Intrepid Potash (NYSE:IPI) Share Price Crosses Above Two Hundred Day Moving Average of $21.76

Intrepid Potash, Inc. (NYSE:IPI)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $21.76 and traded as high as $24.00. Intrepid Potash shares last traded at $23.43, with a volume of 173,620 shares traded.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on IPI shares. StockNews.com upgraded Intrepid Potash to a “sell” rating in a research note on Friday, May 10th. BMO Capital Markets lifted their target price on Intrepid Potash from $21.00 to $23.00 and gave the company a “market perform” rating in a report on Friday, May 10th.

Intrepid Potash Stock Down 0.6 %

The company’s 50 day simple moving average is $23.89 and its 200-day simple moving average is $21.78.

Intrepid Potash (NYSE:IPI) last issued its quarterly earnings data on Wednesday, May 8th. The basic materials company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.18). Intrepid Potash had a negative return on equity of 1.37% and a negative net margin of 15.95%. The business had revenue of $66.46 million during the quarter, compared to analysts’ expectations of $62.87 million. As a group, equities analysts anticipate that Intrepid Potash, Inc. will post 0.15 earnings per share for the current fiscal year.

Institutional Trading of Intrepid Potash

A number of large investors have recently modified their holdings of IPI. Tower Research Capital LLC TRC raised its stake in Intrepid Potash by 77.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,273 shares of the basic materials company’s stock valued at $78,000 after purchasing an additional 1,432 shares in the last quarter. Marquette Asset Management LLC bought a new position in shares of Intrepid Potash in the 1st quarter worth $144,000. Aristides Capital LLC purchased a new stake in shares of Intrepid Potash during the 4th quarter valued at $245,000. Principal Financial Group Inc. lifted its holdings in shares of Intrepid Potash by 28.3% during the 4th quarter. Principal Financial Group Inc. now owns 12,995 shares of the basic materials company’s stock worth $310,000 after acquiring an additional 2,864 shares during the last quarter. Finally, Glenorchy Capital Ltd bought a new stake in shares of Intrepid Potash during the 4th quarter worth $381,000. Institutional investors own 56.13% of the company’s stock.

About Intrepid Potash

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.