Short Interest in Intrepid Potash, Inc. (NYSE:IPI) Decreases By 8.8%

Intrepid Potash, Inc. (NYSE:IPI - Get Free Report) was the recipient of a significant drop in short interest during the month of August. As of August 15th, there was short interest totalling 331,800 shares, a drop of 8.8% from the July 31st total of 364,000 shares. Based on an average daily volume of 74,100 shares, the days-to-cover ratio is currently 4.5 days. Approximately 3.4% of the company's shares are short sold.

Analysts Set New Price Targets

A number of research firms have commented on IPI. StockNews.com upgraded Intrepid Potash to a "sell" rating in a research report on Friday, May 10th. BMO Capital Markets boosted their target price on shares of 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 Trading Down 4.6 %

IPI stock traded down $1.13 during trading on Tuesday, reaching $23.55. 89,659 shares of the stock were exchanged, compared to its average volume of 98,738. Intrepid Potash has a twelve month low of $17.52 and a twelve month high of $28.00. The firm's 50 day moving average is $23.76 and its 200 day moving average is $22.71. The firm has a market cap of $312.74 million, a P/E ratio of -6.97 and a beta of 2.22.

Intrepid Potash (NYSE:IPI - Get Free Report) last posted its earnings results on Monday, August 5th. The basic materials company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.08). The firm had revenue of $62.06 million for the quarter, compared to the consensus estimate of $50.88 million. Intrepid Potash had a negative return on equity of 2.02% and a negative net margin of 19.19%. During the same period in the prior year, the business earned $0.33 EPS. As a group, analysts predict that Intrepid Potash will post 0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Intrepid Potash

Several institutional investors and hedge funds have recently bought and sold shares of the company. Marquette Asset Management LLC purchased a new position in shares of Intrepid Potash in the first quarter worth about $144,000. Aristides Capital LLC purchased a new position in shares of Intrepid Potash in the fourth quarter valued at $245,000. Squarepoint Ops LLC purchased a new position in shares of Intrepid Potash in the second quarter valued at $303,000. Principal Financial Group Inc. raised its stake in shares of Intrepid Potash by 28.3% during the 4th quarter. Principal Financial Group Inc. now owns 12,995 shares of the basic materials company's stock valued at $310,000 after purchasing an additional 2,864 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Intrepid Potash by 5.0% during the 2nd quarter. Rhumbline Advisers now owns 17,997 shares of the basic materials company's stock worth $422,000 after purchasing an additional 861 shares in the last quarter. 56.13% of the stock is owned by 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.