Squarepoint Ops LLC Acquires 40,994 Shares of Intrepid Potash, Inc $IPI

Squarepoint Ops LLC boosted its holdings in Intrepid Potash, Inc (NYSE:IPI) by 266.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 56,389 shares of the basic materials company’s stock after buying an additional 40,994 shares during the quarter. Squarepoint Ops LLC owned 0.42% of Intrepid Potash worth $2,015,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. State of Wyoming purchased a new position in shares of Intrepid Potash during the second quarter valued at approximately $54,000. Tower Research Capital LLC TRC grew its position in Intrepid Potash by 80.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,360 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 607 shares during the period. BNP Paribas Financial Markets raised its stake in Intrepid Potash by 258.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 48,537 shares of the basic materials company’s stock valued at $1,734,000 after buying an additional 34,998 shares during the last quarter. Bridgeway Capital Management LLC lifted its holdings in shares of Intrepid Potash by 4.3% during the 2nd quarter. Bridgeway Capital Management LLC now owns 112,085 shares of the basic materials company’s stock valued at $4,005,000 after buying an additional 4,606 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of Intrepid Potash by 20.1% in the 2nd quarter. Bank of America Corp DE now owns 28,717 shares of the basic materials company’s stock worth $1,026,000 after buying an additional 4,800 shares during the last quarter. Hedge funds and other institutional investors own 56.13% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Wall Street Zen downgraded Intrepid Potash from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Intrepid Potash in a research note on Wednesday, October 8th. Finally, Zacks Research lowered shares of Intrepid Potash from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Intrepid Potash has a consensus rating of “Sell” and a consensus price target of $23.00.

Intrepid Potash Stock Down 0.6%

IPI stock opened at $26.69 on Friday. The business’s 50-day moving average price is $26.31 and its 200-day moving average price is $30.34. The stock has a market cap of $358.37 million, a P/E ratio of -1.76 and a beta of 1.78. Intrepid Potash, Inc has a twelve month low of $20.86 and a twelve month high of $39.01.

Intrepid Potash (NYSE:IPI) last released its earnings results on Wednesday, November 5th. The basic materials company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). Intrepid Potash had a positive return on equity of 2.32% and a negative net margin of 70.24%.The firm had revenue of $53.22 million for the quarter, compared to the consensus estimate of $49.54 million. On average, equities research analysts expect that Intrepid Potash, Inc will post -0.17 earnings per share for the current fiscal year.

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.