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

Intrepid Potash, Inc. (NYSE:IPI - Get Free Report) saw a significant decrease in short interest in June. As of June 15th, there was short interest totalling 415,300 shares, a decrease of 7.8% from the May 31st total of 450,600 shares. Based on an average daily volume of 101,100 shares, the short-interest ratio is presently 4.1 days. Approximately 4.2% of the company's shares are sold short.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on IPI shares. StockNews.com upgraded Intrepid Potash to a "sell" rating in a research note on Friday, May 10th. BMO Capital Markets lifted their price objective on Intrepid Potash from $21.00 to $23.00 and gave the company a "market perform" rating in a report on Friday, May 10th.

Intrepid Potash Price Performance

Shares of IPI stock traded up $0.58 during midday trading on Wednesday, reaching $23.31. 34,121 shares of the company traded hands, compared to its average volume of 108,143. The firm's 50 day simple moving average is $24.08 and its two-hundred day simple moving average is $21.80. Intrepid Potash has a 1-year low of $17.52 and a 1-year high of $28.30. The firm has a market cap of $309.32 million, a PE ratio of -6.90 and a beta of 2.23.

Intrepid Potash (NYSE:IPI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The basic materials company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.18). Intrepid Potash had a negative return on equity of 1.37% and a negative net margin of 15.95%. The company had revenue of $66.46 million for the quarter, compared to analyst estimates of $62.87 million. As a group, research analysts anticipate that Intrepid Potash will post 0.15 earnings per share for the current fiscal year.

Institutional Trading of Intrepid Potash

Several hedge funds and other institutional investors have recently bought and sold shares of IPI. Acadian Asset Management LLC boosted its position in Intrepid Potash by 517.6% during the 1st quarter. Acadian Asset Management LLC now owns 58,126 shares of the basic materials company's stock worth $1,211,000 after purchasing an additional 48,715 shares during the period. Vanguard Group Inc. lifted its holdings in Intrepid Potash by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 553,185 shares of the basic materials company's stock worth $11,539,000 after buying an additional 14,133 shares in the last quarter. First Eagle Investment Management LLC lifted its holdings in Intrepid Potash by 19.4% in the 1st quarter. First Eagle Investment Management LLC now owns 481,670 shares of the basic materials company's stock worth $10,048,000 after buying an additional 78,200 shares in the last quarter. Marquette Asset Management LLC acquired a new position in Intrepid Potash in the 1st quarter worth $144,000. Finally, Empowered Funds LLC lifted its holdings in Intrepid Potash by 7.7% in the 1st quarter. Empowered Funds LLC now owns 31,732 shares of the basic materials company's stock worth $662,000 after buying an additional 2,275 shares in the last quarter. 56.13% of the stock is owned by hedge funds and other institutional investors.

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.