Short Interest in Intrepid Potash, Inc. (NYSE:IPI) Increases By 7.4%

Intrepid Potash, Inc. (NYSE:IPI) saw a significant 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. Approximately 2.4% of the company’s stock are short sold. Based on an average trading volume of 95,700 shares, the short-interest ratio is currently 2.5 days.

Insider Activity

In other Intrepid Potash news, major shareholder Robert P. Jornayvaz III sold 159,513 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $25.12, for a total value of $4,006,966.56. Following the transaction, the insider now owns 1,285,000 shares of the company’s stock, valued at $32,279,200. This trade represents a 11.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 428,748 shares of company stock worth $10,870,406 over the last ninety days. Corporate insiders own 18.00% of the company’s stock.

Hedge Funds Weigh In On Intrepid Potash

Institutional investors and hedge funds have recently modified their holdings of the stock. R Squared Ltd purchased a new position in shares of Intrepid Potash during the 4th quarter valued at $38,000. SG Americas Securities LLC purchased a new position in shares of Intrepid Potash during the 3rd quarter valued at $142,000. Quest Partners LLC grew its holdings in shares of Intrepid Potash by 24,863.2% during the 3rd quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company’s stock valued at $228,000 after acquiring an additional 9,448 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Intrepid Potash during the 2nd quarter valued at $303,000. Finally, Barclays PLC boosted its holdings in Intrepid Potash by 282.6% in the third quarter. Barclays PLC now owns 14,350 shares of the basic materials company’s stock worth $344,000 after purchasing an additional 10,599 shares in the last quarter. 56.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. UBS Group raised their price objective on shares of Intrepid Potash from $19.00 to $21.00 and gave the company a “sell” rating in a research note on Tuesday, January 28th. StockNews.com upgraded shares of Intrepid Potash from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th.

Intrepid Potash Trading Up 0.0 %

NYSE:IPI traded up $0.01 during trading hours on Tuesday, hitting $26.57. 50,995 shares of the stock traded hands, compared to its average volume of 123,843. The firm has a 50 day moving average price of $24.98 and a 200 day moving average price of $24.70. Intrepid Potash has a fifty-two week low of $17.52 and a fifty-two week high of $29.75. The firm has a market cap of $351.45 million, a price-to-earnings ratio of -7.93 and a beta of 2.23.

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

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.