Intrepid Potash, Inc. (NYSE:IPI) Short Interest Update

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

Insider Activity

In related news, major shareholder Robert P. Jornayvaz III sold 159,513 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $25.12, for a total value of $4,006,966.56. Following the sale, the insider now directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. Over the last ninety days, insiders sold 401,097 shares of company stock worth $10,189,635. Corporate insiders own 18.00% of the company’s stock.

Hedge Funds Weigh In On Intrepid Potash

Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in shares of Intrepid Potash during the third quarter worth about $142,000. Quest Partners LLC raised its position in shares of Intrepid Potash by 24,863.2% during the third quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company’s stock worth $228,000 after acquiring an additional 9,448 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Intrepid Potash during the second quarter worth about $303,000. Barclays PLC raised its position in shares of 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 acquiring an additional 10,599 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of Intrepid Potash by 5.0% during the second quarter. Rhumbline Advisers now owns 17,997 shares of the basic materials company’s stock worth $422,000 after acquiring an additional 861 shares during the last quarter. 56.13% of the stock is currently owned by institutional investors.

Intrepid Potash Stock Down 0.9 %

Shares of IPI stock traded down $0.24 during mid-day trading on Monday, reaching $26.50. 83,142 shares of the stock traded hands, compared to its average volume of 85,305. The stock’s fifty day simple moving average is $25.06 and its two-hundred day simple moving average is $24.48. Intrepid Potash has a 1-year low of $17.52 and a 1-year high of $29.75. The company has a market cap of $348.71 million, a price-to-earnings ratio of -7.91 and a beta of 2.23.

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

Analyst Ratings Changes

IPI has been the topic of a number of recent research reports. StockNews.com raised Intrepid Potash from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. UBS Group lifted their price target on Intrepid Potash from $18.00 to $19.00 and gave the company a “sell” rating in a research note on Tuesday, November 5th.

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.