Intrepid Potash (NYSE:IPI) Share Price Passes Above 200 Day Moving Average - Time to Sell?

Intrepid Potash, Inc (NYSE:IPI - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $29.50 and traded as high as $36.37. Intrepid Potash shares last traded at $35.74, with a volume of 148,194 shares.

Wall Street Analysts Forecast Growth

IPI has been the subject of several research reports. UBS Group decreased their price target on shares of Intrepid Potash from $20.00 to $19.00 and set a "sell" rating for the company in a research note on Wednesday, April 16th. Wall Street Zen upgraded shares of Intrepid Potash from a "sell" rating to a "hold" rating in a report on Tuesday, May 6th.

Intrepid Potash Price Performance

The business has a 50 day moving average price of $36.26 and a 200 day moving average price of $29.68. The stock has a market capitalization of $487.91 million, a PE ratio of -2.31 and a beta of 1.72.

Intrepid Potash (NYSE:IPI - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The basic materials company reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates of ($0.12) by $0.51. The business had revenue of $97.76 million during the quarter, compared to analyst estimates of $72.34 million. Intrepid Potash had a negative net margin of 75.09% and a positive return on equity of 0.31%. On average, equities analysts expect that Intrepid Potash, Inc will post -0.17 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Robert P. Jornayvaz III sold 22,987 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $37.06, for a total transaction of $851,898.22. Following the sale, the insider owned 1,021,175 shares of the company's stock, valued at $37,844,745.50. This trade represents a 2.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders sold 82,771 shares of company stock valued at $3,103,313. 2.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intrepid Potash

Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in Intrepid Potash in the fourth quarter worth approximately $1,028,000. First Eagle Investment Management LLC boosted its stake in Intrepid Potash by 4.5% in the 4th quarter. First Eagle Investment Management LLC now owns 657,970 shares of the basic materials company's stock worth $14,423,000 after purchasing an additional 28,500 shares during the period. American Century Companies Inc. grew its holdings in Intrepid Potash by 0.3% during the 4th quarter. American Century Companies Inc. now owns 185,844 shares of the basic materials company's stock valued at $4,074,000 after buying an additional 577 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of Intrepid Potash during the fourth quarter worth $235,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Intrepid Potash by 577.1% in the fourth quarter. JPMorgan Chase & Co. now owns 152,199 shares of the basic materials company's stock worth $3,336,000 after buying an additional 129,722 shares in the last quarter. 56.13% of the stock is 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.