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

Intrepid Potash, Inc. (NYSE:IPI) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 241,100 shares, a growth of 7.4% from the December 15th total of 224,400 shares. Currently, 2.4% of the shares of the company are sold short. Based on an average daily volume of 95,700 shares, the days-to-cover ratio is currently 2.5 days.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on IPI shares. UBS Group upped their price objective on Intrepid Potash from $18.00 to $19.00 and gave the company a “sell” rating in a research note on Tuesday, November 5th. StockNews.com upgraded Intrepid Potash from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th.

Insider Buying and Selling at Intrepid Potash

In other Intrepid Potash news, major shareholder Robert P. Jornayvaz III sold 159,513 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $25.12, for a total value of $4,006,966.56. Following the completion of the transaction, the insider now owns 1,285,000 shares in the company, valued at $32,279,200. This represents a 11.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 401,097 shares of company stock worth $10,189,635 in the last quarter. 18.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in IPI. Bank of New York Mellon Corp boosted its stake in Intrepid Potash by 14.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 51,775 shares of the basic materials company’s stock worth $1,213,000 after purchasing an additional 6,632 shares during the period. Rhumbline Advisers raised its holdings in shares of Intrepid Potash by 5.0% in the 2nd quarter. Rhumbline Advisers now owns 17,997 shares of the basic materials company’s stock valued at $422,000 after acquiring an additional 861 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Intrepid Potash by 8.8% in the 2nd quarter. American Century Companies Inc. now owns 184,337 shares of the basic materials company’s stock valued at $4,319,000 after acquiring an additional 14,968 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Intrepid Potash by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 737,538 shares of the basic materials company’s stock valued at $17,281,000 after acquiring an additional 26,696 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Intrepid Potash in the 2nd quarter valued at about $979,000. Institutional investors own 56.13% of the company’s stock.

Intrepid Potash Stock Performance

IPI stock opened at $26.50 on Tuesday. Intrepid Potash has a fifty-two week low of $17.52 and a fifty-two week high of $29.75. The stock has a fifty day moving average of $25.04 and a 200-day moving average of $24.51. The company has a market capitalization of $348.71 million, a price-to-earnings ratio of -7.91 and a beta of 2.23.

Intrepid Potash (NYSE:IPI) last issued its earnings results on Monday, November 4th. The basic materials company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.25). Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. The company had revenue of $57.55 million during the quarter, compared to the consensus estimate of $42.57 million. During the same quarter in the prior year, the business earned ($0.53) EPS. Equities analysts predict that Intrepid Potash will post -0.17 EPS 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.