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

Intrepid Potash, Inc. (NYSE:IPI - Get Free Report) saw a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 269,000 shares, a decrease of 9.4% from the January 15th total of 296,900 shares. Based on an average daily trading volume, of 122,200 shares, the short-interest ratio is presently 2.2 days. Currently, 2.6% of the company's stock are sold short.

Insider Buying and Selling

In related news, major shareholder Robert P. Jornayvaz III sold 192,573 shares of the company's stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $25.08, for a total value of $4,829,730.84. Following the sale, the insider now owns 178,860 shares in the company, valued at $4,485,808.80. This represents a 51.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold 326,676 shares of company stock worth $8,347,715 in the last 90 days. Insiders own 18.00% of the company's stock.

Hedge Funds Weigh In On Intrepid Potash

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its holdings in shares of 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 during the period. Barclays PLC lifted its holdings in shares of Intrepid Potash by 282.6% during the 3rd quarter. Barclays PLC now owns 14,350 shares of the basic materials company's stock valued at $344,000 after buying an additional 10,599 shares during the period. Glenorchy Capital Ltd lifted its holdings in shares of Intrepid Potash by 95.7% during 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 during the period. State Street Corp lifted its holdings in shares of Intrepid Potash by 0.6% during the 3rd quarter. State Street Corp now owns 227,169 shares of the basic materials company's stock valued at $5,452,000 after buying an additional 1,402 shares during the period. Finally, Pinnacle Associates Ltd. bought a new position in shares of Intrepid Potash during the 3rd quarter valued at $3,100,000. 56.13% of the stock is owned by institutional investors.

Intrepid Potash Trading Down 3.3 %

IPI stock traded down $0.86 during midday trading on Friday, hitting $25.51. The company's stock had a trading volume of 131,931 shares, compared to its average volume of 123,886. The company has a market cap of $337.41 million, a PE ratio of -7.61 and a beta of 2.23. Intrepid Potash has a 12 month low of $18.32 and a 12 month high of $29.75. The firm's 50-day moving average is $24.81 and its 200-day moving average is $24.75.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. StockNews.com upgraded Intrepid Potash from a "sell" rating to a "hold" rating in a research note on Wednesday, November 6th. UBS Group upped their price objective on Intrepid Potash from $19.00 to $21.00 and gave the company a "sell" rating in a research report on Tuesday, January 28th.

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.