Intrepid Potash Inc (NYSE:IPI) has risen sharply, recording gains of 5.51% in the past 4 weeks. However, the stock has corrected -6.94% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 3.84% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The company shares have dropped -87.71% from its 1 Year high price. On Jul 17, 2015, the shares registered one year high at $11.17 and the one year low was seen on Mar 1, 2016. The 50-Day Moving Average price is $1.42 and the 200 Day Moving Average price is recorded at $1.61.
The stock has recorded a 20-day Moving Average of 8.63% and the 50-Day Moving Average is 0.27%.
Intrepid Potash Inc (NYSE:IPI): stock turned positive on Friday. Though the stock opened at $1.29, the bulls momentum made the stock top out at $1.36 level for the day. The stock recorded a low of $1.26 and closed the trading day at $1.34, in the green by 3.08%. The total traded volume for the day was 917,873. The stock had closed at $1.3 in the previous days trading.
In an insider trading activity, Jornayvaz Robert P Iii, CEO of Intrepid Potash, Inc., had purchased 338,761 shares on May 11, 2016. The total value of the transaction was $437,002. The information was disclosed with the SEC in a Form 4 Filing. The information is based on open market trades at the market prices.Option exercises are not covered.
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.