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

Key Points

• Crossed above its 200-day moving average: IPI traded as high as $36.11 and last at $35.72 on volume 221,960, above the 200-day MA of $32.08, though the 50-day MA remains higher at $38.78.
• Analyst sentiment is negative — the stock carries a consensus "Sell" rating with an average price target of $25.00 (Weiss Ratings and UBS among the sellers).
• Fundamentals are mixed: Intrepid beat estimates with EPS $0.49 vs. $0.26 and revenue $75.9M, but trades at a high P/E of 42.02 and has 56.13% institutional ownership with recent inflows.

Intrepid Potash, Inc (NYSE:IPI - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $32.08 and traded as high as $36.11. Intrepid Potash shares last traded at $35.7190, with a volume of 221,960 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on IPI shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Intrepid Potash in a research note on Thursday, January 22nd. UBS Group raised their price objective on shares of Intrepid Potash from $24.00 to $25.00 and gave the stock a "sell" rating in a research note on Thursday, March 5th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Sell" and a consensus price target of $25.00.

Intrepid Potash Stock Performance

The firm has a market cap of $478.99 million, a price-to-earnings ratio of 42.02 and a beta of 1.39. The business's 50 day moving average price is $38.78 and its 200 day moving average price is $32.08.

Intrepid Potash (NYSE:IPI - Get Free Report) last issued its quarterly earnings data on Wednesday, March 4th. The basic materials company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.23. The business had revenue of $75.88 million for 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%. Sell-side analysts anticipate that Intrepid Potash, Inc will post 1.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. RFG Advisory LLC purchased a new position in shares of Intrepid Potash during the 1st quarter valued at approximately $592,000. Assenagon Asset Management S.A. purchased a new position in shares of Intrepid Potash during the 1st quarter valued at approximately $307,000. SG Americas Securities LLC lifted its position in shares of Intrepid Potash by 1,773.2% during the 1st quarter. SG Americas Securities LLC now owns 98,754 shares of the basic materials company's stock valued at $4,224,000 after buying an additional 93,482 shares in the last quarter. Hsbc Holdings PLC purchased a new position in shares of Intrepid Potash during the 4th quarter valued at approximately $371,000. Finally, Summit Global Investments lifted its position in shares of Intrepid Potash by 5.0% during the 4th quarter. Summit Global Investments now owns 15,574 shares of the basic materials company's stock valued at $432,000 after buying an additional 748 shares in the last quarter. Hedge funds and other institutional investors own 56.13% of the company's stock.

Intrepid Potash Company Profile

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.

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