Short Interest in Intrepid Potash, Inc. (NYSE:IPI) Decreases By 9.4%

Intrepid Potash, Inc. (NYSE:IPI) was the target of a large decline in short interest in January. As of January 31st, there was short interest totalling 269,000 shares, a decline of 9.4% from the January 15th total of 296,900 shares. Currently, 2.6% of the company’s stock are sold short. Based on an average trading volume of 122,200 shares, the days-to-cover ratio is currently 2.2 days.

Insider Activity at Intrepid Potash

In related news, major shareholder Robert P. Jornayvaz III sold 5,600 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $27.35, for a total transaction of $153,160.00. Following the completion of the sale, the insider now owns 99,063 shares of the company’s stock, valued at $2,709,373.05. This represents a 5.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 428,748 shares of company stock worth $10,870,406. 18.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Intrepid Potash

Several large investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in Intrepid Potash in the 3rd quarter valued at $142,000. Glenorchy Capital Ltd raised its stake in shares of Intrepid Potash by 95.7% in the 3rd quarter. Glenorchy Capital Ltd now owns 62,214 shares of the basic materials company’s stock valued at $1,493,000 after buying an additional 30,425 shares in the last quarter. Pinnacle Associates Ltd. acquired a new stake in shares of Intrepid Potash during the 3rd quarter worth about $3,100,000. Empowered Funds LLC increased its position in shares of Intrepid Potash by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 53,773 shares of the basic materials company’s stock worth $1,291,000 after purchasing an additional 2,680 shares in the last quarter. Finally, Quest Partners LLC increased its position 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 worth $228,000 after purchasing an additional 9,448 shares in the last quarter. 56.13% of the stock is owned by institutional investors.

Intrepid Potash Stock Performance

IPI stock opened at $25.87 on Tuesday. Intrepid Potash has a 52-week low of $18.32 and a 52-week high of $29.75. The company’s 50 day simple moving average is $24.73 and its 200-day simple moving average is $24.69.

Analyst Ratings Changes

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

About Intrepid Potash

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.