Intrepid Potash Inc. (NYSE: IPI) Drops -2.76 Percent In Recent Trading, What Questions Do You Have?

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The trading price of Intrepid Potash Inc. (NYSE:IPI) closed lower on Friday, June 17, closing at $52.82, -2.76% lower than its previous close.

Traders who pay close attention to intraday price movement should know that it fluctuated between $52.02 and $55.275. The company’s P/E ratio in the trailing 12-month period was 2.56, while its 5Y monthly beta was 2.13. In examining the 52-week price action we see that the stock hit a 52-week high of $121.72 and a 52-week low of $27.43. Over the past month, the stock has lost -17.73% in value.

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Intrepid Potash Inc., whose market valuation is $733.14 million at the time of this writing, is expected to release its quarterly earnings report May 02, 2022 – May 06, 2022. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $2.19 per share this quarter, however they have predicted annual earnings per share of $9.1 for 2022 and $5.35 for 2023. It means analysts are expecting annual earnings per share growth of 458.30% this year and -41.20% next year.

Analysts have forecast the company to bring in revenue of $91.42 million for the current quarter, with the likely lows of $91.42 million and highs of $91.42 million. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2022 is $381.83 million. The company’s revenue is forecast to grow by 41.20% over what it did in 2022.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Intrepid Potash Inc. 1 upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest IPI has a 50% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently 50% Sell.

Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned IPI a recommendation rating is 3. Out of them, 1 rate it a Hold, while 0 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged Intrepid Potash Inc. (IPI) as Underweight, while 2 advise Sell. Analysts have rated the stock Underweight, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.

A quick review shows that IPI’s price is currently -14.03% off the SMA20 and -30.90% off the SMA50. The RSI metric on the 14-day chart is currently showing 34.88, and weekly volatility stands at 6.72%. When measured over the past 30 days, the indicator reaches 7.63%. Intrepid Potash Inc. (NYSE:IPI)’s beta value is currently sitting at 2.09, while the Average True Range indicator is currently displaying 4.78. With analysts defining $64.00-$70.00 as the low and high price targets, we arrive at a consensus price target of $67.00 for the trailing 12-month period. The current price is about -21.17% off the estimated low and -32.53% off the forecast high, based on this estimate. Investors will be thrilled if IPI’s share price rises to $67.00, which is the median consensus price. At that level, IPI’s share price would be -26.85% below current price.

To see how Intrepid Potash Inc. stock has been performing in comparison to its peers in the industry, here are the numbers: IPI stock’s performance was -2.76% in the latest trading, and 86.51% in the past year. Another comparable company The Scotts Miracle-Gro Company (SMG) saw its stock close 0.14% higher in the most recent trading session but was down -60.15% in a year. Furthermore, Compass Minerals International Inc. (CMP) showed an increase of 9.14% on the day while its price kept declining at -39.14% over the past year. Intrepid Potash Inc. has a P/E ratio of 2.56. Also in last trading session, the S&P 500 Index has surged 0.22%, while the Dow Jones Industrial also saw a negative session, down -0.13% on the day.

An evaluation of the daily trading volume of Intrepid Potash Inc. (NYSE:IPI) indicates that the 3-month average is 692.16K.

Currently, records show that 13.16 million of the company’s shares remain outstanding. The insiders hold 14.20% of outstanding shares, whereas institutions hold 57.70%. However, since the stock’s price has seen 23.61% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.

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