Intrepid Potash Inc (NYSE:IPI) has climbed 22.05% in the past week and advanced 21.09% in the last 4 weeks. In the past week, the company has outperformed the S&P 500 by 23.51% and the outperformance has advanced to 19.99% for the last 4 weeks period.
Intrepid Potash Inc (NYSE:IPI): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $1.48 and $1.44 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $1.57. The buying momentum continued till the end and the stock did not give up its gains. It closed at $1.55, notching a gain of 6.90% for the day. The total traded volume was 2,407,877 . The stock had closed at $1.45 on the previous day.
The company shares have dropped -85.79% from its 1 Year high price. On Jun 26, 2015, the shares registered one year high at $12.23 and the one year low was seen on Mar 1, 2016. The 50-Day Moving Average price is $1.30 and the 200 Day Moving Average price is recorded at $1.79.
On the companys insider trading activities, The Securities and Exchange Commission has divulged in a Form 4 filing that the CEO of Intrepid Potash, Inc., Jornayvaz Robert P Iii had purchased shares worth of $437,002 in a transaction dated on May 11, 2016. A total of 338,761 shares were purchased at a price of $1.29 per share. The information is based on open market trades at the market prices.Option exercises are not covered.
Many analysts have stated their opinion on the company shares. Equity Analysts at the Brokerage Firm, CLSA, upgrades their rating on the shares of Intrepid Potash Inc (NYSE:IPI). CLSA has a Outperform rating on the shares. Previously, the analysts had a Underperform rating on the shares. The rating by the firm was issued on May 10, 2016. Currently the company Insiders own 27.2% of Intrepid Potash Inc shares according to the proxy statements. Institutional Investors own 46.95% of Intrepid Potash Inc shares.
Intrepid Potash, Inc. is a producer of muriate of potash (potassium chloride or potash) and langbeinite (sulfate of potash magnesia) in the United States. The Company sells potash and Trio into the agricultural market as a fertilizer. The Company also sells produce salt, magnesium chloride and metal recovery salts from its potash mining processes. The Company owns three solution mining facilities and two conventional underground facilities that are utilized for producing potash. Its solution mining production comes from the HB solar solution mine near Carlsbad, New Mexico, a solar solution mine near Moab, Utah and a solar evaporation shallow brine mine in Wendover, Utah. The Companys conventional production comes from its underground West and East mines near Carlsbad, New Mexico, which services the West and HB mines.