Intrepid Potash (NYSE:IPI) Share Price Crosses Above 200-Day Moving Average of $22.82

Intrepid Potash, Inc. (NYSE:IPI) passed above its 200-day moving average during trading on Friday . The stock has a 200-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 Price Performance

The firm has a market cap of $317.53 million, a price-to-earnings ratio of -7.08 and a beta of 2.19. The firm has a fifty day simple moving average of $23.76 and a two-hundred day simple moving average of $22.82.

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

Institutional Investors Weigh In On Intrepid Potash

A number of institutional investors and hedge funds have recently modified their holdings of IPI. Marquette Asset Management LLC acquired a new stake in shares of Intrepid Potash during the first quarter worth about $144,000. Aristides Capital LLC acquired a new stake in shares of Intrepid Potash during the fourth quarter worth about $245,000. Squarepoint Ops LLC acquired a new stake in shares of Intrepid Potash during the second quarter worth about $303,000. Principal Financial Group Inc. lifted its holdings in shares of Intrepid Potash by 28.3% during the fourth quarter. Principal Financial Group Inc. now owns 12,995 shares of the basic materials company’s stock worth $310,000 after purchasing an additional 2,864 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of Intrepid Potash by 5.0% during the second quarter. Rhumbline Advisers now owns 17,997 shares of the basic materials company’s stock worth $422,000 after purchasing an additional 861 shares during the period. Institutional investors and hedge funds 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.