Intrepid Potash (NYSE:IPI) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Intrepid Potash, Inc. (NYSE:IPI)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $24.51 and traded as high as $27.07. Intrepid Potash shares last traded at $26.46, with a volume of 82,192 shares trading hands.

Analyst Ratings Changes

Several research analysts recently issued reports on IPI shares. UBS Group increased their price target on shares of Intrepid Potash from $18.00 to $19.00 and gave the stock a “sell” rating in a report on Tuesday, November 5th. StockNews.com raised Intrepid Potash from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th.

Intrepid Potash Stock Down 2.2 %

The firm has a market capitalization of $348.21 million, a PE ratio of -7.90 and a beta of 2.18. The firm’s 50 day moving average price is $25.07 and its two-hundred day moving average price is $24.51.

Intrepid Potash (NYSE:IPI) last issued its quarterly earnings results on Monday, November 4th. The basic materials company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.25). Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. The firm had revenue of $57.55 million during the quarter, compared to the consensus estimate of $42.57 million. During the same quarter last year, the firm posted ($0.53) earnings per share. On average, sell-side analysts anticipate that Intrepid Potash, Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Intrepid Potash

A number of institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in shares of Intrepid Potash in the third quarter valued at $142,000. Quest Partners LLC grew its position in Intrepid Potash by 24,863.2% during the third quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company’s stock valued at $228,000 after purchasing an additional 9,448 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Intrepid Potash in the 2nd quarter valued at approximately $303,000. Barclays PLC lifted its position in Intrepid Potash by 282.6% in the 3rd quarter. Barclays PLC now owns 14,350 shares of the basic materials company’s stock worth $344,000 after buying an additional 10,599 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Intrepid Potash by 5.0% during the 2nd quarter. Rhumbline Advisers now owns 17,997 shares of the basic materials company’s stock valued at $422,000 after buying an additional 861 shares during the period. 56.13% of the stock is owned by institutional investors and hedge funds.

Intrepid Potash Company Profile

Intrepid Potash, Inc, together with its subsidiaries, engages in the extraction and production of the potash in the United States and internationally. It operates through three segments: Potash, Trio, and Oilfield Solutions. The company offers muriate of potash for various markets, such as agricultural market as a fertilizer input; the industrial market as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes; and the animal feed market as a nutrient supplement.