Intrepid Potash (NYSE:IPI) Stock Price Passes Above Two Hundred Day Moving Average of $21.03

Intrepid Potash, Inc. (NYSE:IPI)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.03 and traded as high as $21.20. Intrepid Potash shares last traded at $20.87, with a volume of 89,850 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Intrepid Potash to a “sell” rating in a research note on Wednesday, January 24th.

Intrepid Potash Price Performance

The stock has a 50 day simple moving average of $19.79 and a 200 day simple moving average of $21.00.

Intrepid Potash (NYSE:IPI) last issued its quarterly earnings data on Wednesday, March 6th. The basic materials company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.20). The business had revenue of $49.04 million during the quarter, compared to the consensus estimate of $41.63 million. Intrepid Potash had a negative return on equity of 0.43% and a negative net margin of 12.78%. As a group, equities analysts predict that Intrepid Potash, Inc. will post -0.07 earnings per share for the current fiscal year.

Insider Transactions at Intrepid Potash

In other news, CEO Robert P. Jornayvaz III sold 5,384 shares of Intrepid Potash stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $19.35, for a total value of $104,180.40. Following the sale, the chief executive officer now directly owns 1,518,920 shares in the company, valued at approximately $29,391,102. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Robert P. Jornayvaz III sold 5,384 shares of Intrepid Potash stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $19.35, for a total transaction of $104,180.40. Following the sale, the chief executive officer now directly owns 1,518,920 shares in the company, valued at $29,391,102. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert P. Jornayvaz III sold 63,372 shares of Intrepid Potash stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $20.43, for a total value of $1,294,689.96. Following the sale, the chief executive officer now owns 1,542,551 shares in the company, valued at $31,514,316.93. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,034 shares of company stock worth $1,939,525. 18.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intrepid Potash

Hedge funds have recently added to or reduced their stakes in the stock. Point72 Middle East FZE purchased a new position in shares of Intrepid Potash in the fourth quarter worth $34,000. Captrust Financial Advisors raised its stake in shares of Intrepid Potash by 480.3% in the second quarter. Captrust Financial Advisors now owns 882 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 730 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Intrepid Potash by 291.7% in the third quarter. Tower Research Capital LLC TRC now owns 1,841 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 1,371 shares during the last quarter. Bessemer Group Inc. purchased a new position in shares of Intrepid Potash in the second quarter worth $66,000. Finally, Ensign Peak Advisors Inc purchased a new position in shares of Intrepid Potash in the third quarter worth $82,000. 56.13% of the stock is owned by 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.