Intrepid Potash, Inc. (NYSE:IPI) Sees Significant Growth in Short Interest

Intrepid Potash, Inc. (NYSE:IPI) saw a large growth in short interest in January. As of January 15th, there was short interest totalling 241,100 shares, a growth of 7.4% from the December 31st total of 224,400 shares. Based on an average daily trading volume, of 95,700 shares, the short-interest ratio is presently 2.5 days. Currently, 2.4% of the company’s stock are sold short.

Intrepid Potash Stock Up 0.0 %

Shares of NYSE IPI traded up $0.01 during trading on Tuesday, hitting $26.57. The company had a trading volume of 24,779 shares, compared to its average volume of 123,199. The firm has a market capitalization of $351.51 million, a price-to-earnings ratio of -7.91 and a beta of 2.23. The stock has a fifty day simple moving average of $24.98 and a two-hundred day simple moving average of $24.70. Intrepid Potash has a fifty-two week low of $17.52 and a fifty-two week high of $29.75.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings data on Monday, November 4th. The basic materials company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.25). The firm had revenue of $57.55 million for the quarter, compared to analysts’ expectations of $42.57 million. Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. During the same quarter last year, the firm posted ($0.53) earnings per share. On average, analysts anticipate that Intrepid Potash will post -0.17 earnings per share for the current year.

Insider Activity at Intrepid Potash

In other Intrepid Potash news, major shareholder Robert P. Jornayvaz III sold 3,557 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $25.00, for a total value of $88,925.00. Following the completion of the transaction, the insider now owns 129,230 shares of the company’s stock, valued at approximately $3,230,750. This trade represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 428,748 shares of company stock valued at $10,870,406 in the last ninety days. Corporate insiders own 18.00% of the company’s stock.

Institutional Investors Weigh In On Intrepid Potash

Several institutional investors and hedge funds have recently added to or reduced their stakes in IPI. R Squared Ltd purchased a new stake in Intrepid Potash during the 4th quarter valued at about $38,000. SG Americas Securities LLC purchased a new stake in shares of Intrepid Potash in the third quarter valued at approximately $142,000. Quest Partners LLC increased its holdings in shares of Intrepid Potash by 24,863.2% in the third quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company’s stock valued at $228,000 after purchasing an additional 9,448 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Intrepid Potash during the second quarter worth $303,000. Finally, Barclays PLC boosted its stake in Intrepid Potash by 282.6% during the third quarter. Barclays PLC now owns 14,350 shares of the basic materials company’s stock worth $344,000 after buying an additional 10,599 shares during the last quarter. Institutional investors and hedge funds own 56.13% of the company’s stock.

Analysts Set New Price Targets

IPI has been the topic of several recent research reports. UBS Group upped their price objective on Intrepid Potash from $19.00 to $21.00 and gave the stock a “sell” rating in a research report on Tuesday, January 28th. StockNews.com raised shares of Intrepid Potash from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th.

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.