Intrepid Potash (NYSE:IPI) Stock Price Crosses Above 200-Day Moving Average of $22.51

Intrepid Potash, Inc. (NYSE:IPI)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $22.51 and traded as high as $24.16. Intrepid Potash shares last traded at $23.79, with a volume of 93,914 shares trading hands.

Analyst Ratings Changes

IPI has been the subject of a number of research analyst reports. StockNews.com upgraded shares of Intrepid Potash to a “sell” rating in a research report on Friday, May 10th. BMO Capital Markets increased their price objective on Intrepid Potash from $21.00 to $23.00 and gave the stock a “market perform” rating in a report on Friday, May 10th.

Intrepid Potash Trading Up 3.3 %

The company has a fifty day moving average price of $23.67 and a 200-day moving average price of $22.51. The firm has a market capitalization of $315.67 million, a price-to-earnings ratio of -7.04 and a beta of 2.22.

Intrepid Potash (NYSE:IPI) last posted its earnings results on Monday, August 5th. The basic materials company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.08). The business had revenue of $62.06 million during the quarter, compared to the consensus estimate of $50.88 million. Intrepid Potash had a negative return on equity of 1.37% and a negative net margin of 15.95%. During the same period in the prior year, the firm earned $0.33 earnings per share. As a group, sell-side analysts predict that Intrepid Potash, Inc. will post 0.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Intrepid Potash

Institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its stake in shares of Intrepid Potash by 5.2% during the 2nd quarter. AQR Capital Management LLC now owns 46,364 shares of the basic materials company’s stock worth $1,086,000 after acquiring an additional 2,306 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Intrepid Potash during the second quarter worth approximately $303,000. Cubist Systematic Strategies LLC bought a new stake in Intrepid Potash during the second quarter worth approximately $979,000. Goehring & Rozencwajg Associates LLC grew its holdings in Intrepid Potash by 11.0% during the second quarter. Goehring & Rozencwajg Associates LLC now owns 193,824 shares of the basic materials company’s stock valued at $4,541,000 after purchasing an additional 19,200 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its position in shares of Intrepid Potash by 25.1% in the second quarter. First Eagle Investment Management LLC now owns 602,770 shares of the basic materials company’s stock valued at $14,123,000 after purchasing an additional 121,100 shares during the period. 56.13% of the stock is currently owned by institutional investors.

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.