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

Shares of Intrepid Potash, Inc (NYSE:IPI - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 traded.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. UBS Group decreased their price target on 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 research report on Tuesday, May 6th.

Intrepid Potash Stock Up 0.0%

The firm has a market cap of $487.91 million, a price-to-earnings ratio of -2.31 and a beta of 1.72. The stock's 50 day moving average is $36.33 and its 200 day moving average is $29.77.

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

Insider Transactions at Intrepid Potash

In other Intrepid Potash news, major shareholder Robert P. Jornayvaz III sold 59,701 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $37.66, for a total value of $2,248,339.66. Following the completion of the sale, the insider directly owned 1,044,162 shares of the company's stock, valued at approximately $39,323,140.92. This represents a 5.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 82,771 shares of company stock worth $3,103,313 over the last quarter. 2.40% of the stock is owned by insiders.

Institutional Trading of Intrepid Potash

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. New York State Teachers Retirement System acquired a new stake in shares of Intrepid Potash during the first quarter worth approximately $29,000. State of Wyoming acquired a new position in shares of Intrepid Potash in the fourth quarter valued at $46,000. BNP Paribas Financial Markets acquired a new position in Intrepid Potash in the fourth quarter worth about $87,000. FNY Investment Advisers LLC bought a new position in shares of Intrepid Potash during the 1st quarter worth approximately $102,000. Finally, Aquatic Capital Management LLC lifted its holdings in shares of Intrepid Potash by 274.3% during the fourth quarter. Aquatic Capital Management LLC now owns 5,614 shares of the basic materials company's stock valued at $123,000 after acquiring an additional 4,114 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.