Intrepid Potash (NYSE:IPI) Shares Cross 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 Tuesday . The stock has a two hundred day moving average of $25.07 and traded as high as $26.12. Intrepid Potash shares last traded at $25.87, with a volume of 155,764 shares.

Analyst Ratings Changes

Separately, UBS Group lowered their price target on shares of Intrepid Potash from $21.00 to $20.00 and set a "sell" rating on the stock in a report on Tuesday, March 4th.

Intrepid Potash Stock Performance

The firm has a 50 day moving average price of $25.49 and a two-hundred day moving average price of $25.07. The company has a market cap of $342.10 million, a P/E ratio of -7.72 and a beta of 2.18.

Intrepid Potash (NYSE:IPI - Get Free Report) last released its quarterly earnings data on Monday, March 3rd. The basic materials company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.06). The business had revenue of $55.80 million for the quarter, compared to analysts' expectations of $50.35 million. Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. During the same period last year, the company earned ($0.41) earnings per share. On average, sell-side analysts predict that Intrepid Potash, Inc. will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling

In other Intrepid Potash news, major shareholder Robert P. Jornayvaz III sold 3,557 shares of the business's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $25.00, for a total transaction of $88,925.00. Following the sale, the insider now owns 129,230 shares of the company's stock, valued at $3,230,750. The trade was a 2.68 % 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 143,385 shares of company stock valued at $3,753,144. Company insiders own 18.00% of the company's stock.

Hedge Funds Weigh In On Intrepid Potash

Several hedge funds have recently made changes to their positions in IPI. B. Riley Wealth Advisors Inc. purchased a new stake in Intrepid Potash during the 4th quarter worth about $1,007,000. Two Sigma Investments LP lifted its holdings in shares of Intrepid Potash by 16.7% in the fourth quarter. Two Sigma Investments LP now owns 75,974 shares of the basic materials company's stock worth $1,665,000 after buying an additional 10,894 shares in the last quarter. State of Wyoming bought a new position in shares of Intrepid Potash in the fourth quarter valued at approximately $46,000. Lazard Asset Management LLC bought a new position in shares of Intrepid Potash in the fourth quarter valued at approximately $153,000. Finally, Glenorchy Capital Ltd increased its holdings in Intrepid Potash by 1.1% during the 4th quarter. Glenorchy Capital Ltd now owns 62,928 shares of the basic materials company's stock worth $1,379,000 after acquiring an additional 714 shares during the period. 56.13% of the stock is currently owned by hedge funds and other institutional investors.

About Intrepid Potash

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.

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