Intrepid Potash (NYSE:IPI) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Intrepid Potash, Inc (NYSE:IPI) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $30.47 and traded as high as $39.63. Intrepid Potash shares last traded at $38.5950, with a volume of 394,623 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on IPI. UBS Group raised their price target on Intrepid Potash from $24.00 to $25.00 and gave the stock a “sell” rating in a research note on Thursday, March 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Intrepid Potash in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Sell” and a consensus price target of $25.00.

Intrepid Potash Stock Up 6.4%

The business’s fifty day moving average is $36.30 and its 200-day moving average is $30.66. The company has a market cap of $596.91 million, a PE ratio of 52.37 and a beta of 1.53.

Intrepid Potash (NYSE:IPI) last announced its earnings results on Wednesday, March 4th. The basic materials company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.23. The business had revenue of $75.88 million during the quarter, compared to analysts’ expectations of $65.25 million. Intrepid Potash had a net margin of 3.75% and a return on equity of 3.93%. Analysts forecast that Intrepid Potash, Inc will post -0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Intrepid Potash

A number of institutional investors have recently bought and sold shares of IPI. Gate City Capital Management LLC grew its holdings in Intrepid Potash by 338.6% during the fourth quarter. Gate City Capital Management LLC now owns 914,026 shares of the basic materials company’s stock valued at $25,346,000 after purchasing an additional 705,638 shares during the period. Azarias Capital Management L.P. raised its stake in shares of Intrepid Potash by 64.9% in the third quarter. Azarias Capital Management L.P. now owns 259,788 shares of the basic materials company’s stock worth $7,944,000 after buying an additional 102,266 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of Intrepid Potash during the 2nd quarter valued at about $3,441,000. Vanguard Group Inc. lifted its position in shares of Intrepid Potash by 12.6% during the 3rd quarter. Vanguard Group Inc. now owns 726,027 shares of the basic materials company’s stock valued at $22,202,000 after buying an additional 81,121 shares in the last quarter. Finally, GSA Capital Partners LLP grew its stake in shares of Intrepid Potash by 350.2% during the 3rd quarter. GSA Capital Partners LLP now owns 86,945 shares of the basic materials company’s stock valued at $2,659,000 after acquiring an additional 67,631 shares during the period. 56.13% of the stock is owned by institutional investors.

About Intrepid Potash

Intrepid Potash, Inc is a leading U.S.-based producer and marketer of potash and related specialty fertilizer products. The company’s primary business centers on potassium chloride, a key nutrient used in agricultural applications to enhance crop yield and quality. In addition to potash, Intrepid Potash produces magnesium chloride and sodium chloride, which serve a variety of markets including de-icing, dust control and industrial chemical production.

Intrepid Potash operates through a combination of solution mining, solar evaporation and conventional underground mining techniques.