Intrepid Potash (NYSE:IPI) Stock Passes Above 200 Day Moving Average of $22.82

Intrepid Potash, Inc. (NYSE:IPI)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $22.82 and traded as high as $24.24. Intrepid Potash shares last traded at $23.93, with a volume of 28,139 shares.

Intrepid Potash Stock Performance

The stock has a market cap of $317.53 million, a PE ratio of -7.08 and a beta of 2.19. The company’s 50-day moving average price is $23.77 and its two-hundred day moving average price is $22.86.

Intrepid Potash (NYSE:IPI) last released its quarterly earnings results on Monday, August 5th. The basic materials company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.08). Intrepid Potash had a negative net margin of 19.19% and a negative return on equity of 2.02%. The firm had revenue of $62.06 million for the quarter, compared to analysts’ expectations of $50.88 million. During the same quarter in the previous year, the business earned $0.33 EPS. Equities research analysts forecast that Intrepid Potash, Inc. will post 0.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Intrepid Potash

Several institutional investors have recently bought and sold shares of IPI. Principal Financial Group Inc. grew its holdings in Intrepid Potash by 28.3% in the 4th quarter. Principal Financial Group Inc. now owns 12,995 shares of the basic materials company’s stock worth $310,000 after acquiring an additional 2,864 shares during the last quarter. Aristides Capital LLC purchased a new stake in Intrepid Potash in the 4th quarter worth approximately $245,000. CastleKnight Management LP grew its position in shares of Intrepid Potash by 336.2% in the 4th quarter. CastleKnight Management LP now owns 98,600 shares of the basic materials company’s stock worth $2,356,000 after buying an additional 75,998 shares during the last quarter. Goehring & Rozencwajg Associates LLC increased its stake in shares of Intrepid Potash by 3.4% during the fourth quarter. Goehring & Rozencwajg Associates LLC now owns 162,024 shares of the basic materials company’s stock valued at $3,871,000 after buying an additional 5,270 shares during the period. Finally, Azarias Capital Management L.P. raised its holdings in shares of Intrepid Potash by 12.2% during the first quarter. Azarias Capital Management L.P. now owns 677,704 shares of the basic materials company’s stock valued at $14,137,000 after acquiring an additional 73,662 shares in the last quarter. 56.13% of the stock is currently owned by hedge funds and other 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.