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

Intrepid Potash, Inc. (NYSE:IPI - Get Free Report) saw a large growth in short interest during the month of 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 days-to-cover ratio is presently 2.5 days. Currently, 2.4% of the company's shares are sold short.

Analyst Ratings Changes

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

Insider Activity at Intrepid Potash

In other news, major shareholder Robert P. Jornayvaz III sold 5,454 shares of the business's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $26.24, for a total transaction of $143,112.96. Following the transaction, the insider now directly owns 371,533 shares of the company's stock, valued at approximately $9,749,025.92. The trade was a 1.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 428,748 shares of company stock worth $10,870,406 in the last three months. 18.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Intrepid Potash

Several large investors have recently made changes to their positions in IPI. Geode Capital Management LLC increased its position in Intrepid Potash by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 231,594 shares of the basic materials company's stock valued at $5,560,000 after buying an additional 1,732 shares in the last quarter. Barclays PLC grew its stake in shares of 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 acquiring an additional 10,599 shares during the last quarter. Glenorchy Capital Ltd increased its holdings in shares of Intrepid Potash by 95.7% during the third quarter. Glenorchy Capital Ltd now owns 62,214 shares of the basic materials company's stock valued at $1,493,000 after acquiring an additional 30,425 shares in the last quarter. State Street Corp raised its position in shares of Intrepid Potash by 0.6% in the 3rd quarter. State Street Corp now owns 227,169 shares of the basic materials company's stock worth $5,452,000 after purchasing an additional 1,402 shares during the last quarter. Finally, Pinnacle Associates Ltd. bought a new position in Intrepid Potash in the 3rd quarter worth about $3,100,000. 56.13% of the stock is currently owned by hedge funds and other institutional investors.

Intrepid Potash Trading Down 1.7 %

Intrepid Potash stock traded down $0.44 on Friday, hitting $25.19. 142,320 shares of the stock traded hands, compared to its average volume of 131,179. The business's fifty day simple moving average is $24.89 and its 200 day simple moving average is $24.73. The firm has a market cap of $333.26 million, a P/E ratio of -7.52 and a beta of 2.23. Intrepid Potash has a 1 year low of $17.65 and a 1 year high of $29.75.

Intrepid Potash (NYSE:IPI - Get Free Report) last issued its quarterly earnings results 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 net margin of 16.86% and a negative return on equity of 1.32%. The business had revenue of $57.55 million for the quarter, compared to analysts' expectations of $42.57 million. During the same period last year, the business earned ($0.53) earnings per share. As a group, analysts predict that Intrepid Potash will post -0.17 earnings per share 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.