Intrepid Potash (NYSE:IPI) Shares Cross Above 200-Day Moving Average of $21.03

Intrepid Potash, Inc. (NYSE:IPI) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.03 and traded as high as $21.20. Intrepid Potash shares last traded at $20.87, with a volume of 89,850 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Intrepid Potash to a “sell” rating in a report on Wednesday, January 24th.

Intrepid Potash Trading Up 2.3 %

The company has a market cap of $274.17 million, a price-to-earnings ratio of -7.48 and a beta of 2.18. The firm’s fifty day simple moving average is $19.76 and its 200 day simple moving average is $21.03.

Intrepid Potash (NYSE:IPI) last issued its quarterly earnings results on Wednesday, March 6th. The basic materials company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.20). The business had revenue of $49.04 million for the quarter, compared to analyst estimates of $41.63 million. Intrepid Potash had a negative return on equity of 0.43% and a negative net margin of 12.78%. As a group, sell-side analysts expect that Intrepid Potash, Inc. will post -0.07 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Robert P. Jornayvaz III sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $20.22, for a total value of $222,420.00. Following the sale, the chief executive officer now directly owns 1,531,551 shares of the company’s stock, valued at $30,967,961.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Robert P. Jornayvaz III sold 5,384 shares of Intrepid Potash stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $19.35, for a total value of $104,180.40. Following the completion of the sale, the chief executive officer now owns 1,518,920 shares in the company, valued at $29,391,102. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert P. Jornayvaz III sold 11,000 shares of Intrepid Potash stock in a transaction on Monday, March 11th. The stock was sold at an average price of $20.22, for a total transaction of $222,420.00. Following the completion of the transaction, the chief executive officer now directly owns 1,531,551 shares of the company’s stock, valued at approximately $30,967,961.22. The disclosure for this sale can be found here. Insiders have sold 96,034 shares of company stock valued at $1,939,525 in the last ninety days. Insiders own 18.20% of the company’s stock.

Hedge Funds Weigh In On Intrepid Potash

Several hedge funds and other institutional investors have recently modified their holdings of IPI. Goldman Sachs Group Inc. raised its position in Intrepid Potash by 16.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 37,071 shares of the basic materials company’s stock worth $886,000 after acquiring an additional 5,275 shares in the last quarter. Wolverine Trading LLC purchased a new position in Intrepid Potash during the 4th quarter valued at about $240,000. Nuveen Asset Management LLC grew its stake in Intrepid Potash by 30.6% during the 4th quarter. Nuveen Asset Management LLC now owns 29,761 shares of the basic materials company’s stock valued at $711,000 after acquiring an additional 6,977 shares in the last quarter. Goehring & Rozencwajg Associates LLC grew its stake in Intrepid Potash by 3.4% during the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 162,024 shares of the basic materials company’s stock valued at $3,871,000 after acquiring an additional 5,270 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its stake in shares of Intrepid Potash by 3.0% in the 4th quarter. Bridgeway Capital Management LLC now owns 89,313 shares of the basic materials company’s stock valued at $2,134,000 after buying an additional 2,567 shares in the last quarter. Institutional investors and hedge funds own 56.13% of the company’s stock.

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.