Intrepid Potash (NYSE:IPI) Shares Pass Above Two Hundred Day Moving Average – Should You Sell?

Intrepid Potash, Inc. (NYSE:IPI) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $24.51 and traded as high as $27.07. Intrepid Potash shares last traded at $26.46, with a volume of 82,192 shares trading hands.

Analysts Set New Price Targets

IPI has been the subject of several analyst reports. StockNews.com upgraded shares of Intrepid Potash from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. UBS Group upped their price target on shares of Intrepid Potash from $18.00 to $19.00 and gave the company a “sell” rating in a research report on Tuesday, November 5th.

Intrepid Potash Price Performance

The company has a market capitalization of $366.90 million, a P/E ratio of -8.33 and a beta of 2.18. The stock’s 50 day moving average is $25.14 and its 200-day moving average is $24.52.

Intrepid Potash (NYSE:IPI) last released its quarterly earnings results on Monday, November 4th. The basic materials company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.25). Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. The company had revenue of $57.55 million during the quarter, compared to the consensus estimate of $42.57 million. During the same period in the previous year, the company earned ($0.53) earnings per share. On average, equities research analysts anticipate that Intrepid Potash, Inc. will post -0.17 EPS for the current year.

Institutional Investors Weigh In On Intrepid Potash

Several institutional investors and hedge funds have recently made changes to their positions in IPI. Pinnacle Associates Ltd. bought a new stake in shares of Intrepid Potash during the third quarter valued at approximately $3,100,000. First Eagle Investment Management LLC increased its position in shares of Intrepid Potash by 25.1% during the second quarter. First Eagle Investment Management LLC now owns 602,770 shares of the basic materials company’s stock valued at $14,123,000 after acquiring an additional 121,100 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Intrepid Potash by 517.6% during the first quarter. Acadian Asset Management LLC now owns 58,126 shares of the basic materials company’s stock valued at $1,211,000 after acquiring an additional 48,715 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Intrepid Potash during the second quarter valued at approximately $979,000. Finally, Glenorchy Capital Ltd increased its position in shares of Intrepid Potash by 95.7% during the third quarter. Glenorchy Capital Ltd now owns 62,214 shares of the basic materials company’s stock valued at $1,493,000 after acquiring an additional 30,425 shares in the last quarter. Institutional investors 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.