Intrepid Potash, Inc. (NYSE:IPI) Short Interest Down 9.5% in March

Intrepid Potash, Inc. (NYSE:IPI) was the recipient of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 444,200 shares, a decrease of 9.5% from the March 15th total of 490,800 shares. Based on an average daily trading volume, of 117,100 shares, the short-interest ratio is currently 3.8 days. Currently, 4.6% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Intrepid Potash to a “sell” rating in a research report on Wednesday, January 24th.

Insider Buying and Selling

In other news, CEO Robert P. Jornayvaz III sold 63,372 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $20.43, for a total value of $1,294,689.96. Following the completion of the transaction, the chief executive officer now owns 1,542,551 shares in the company, valued at approximately $31,514,316.93. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Intrepid Potash news, CEO Robert P. Jornayvaz III sold 63,372 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $20.43, for a total transaction of $1,294,689.96. Following the completion of the transaction, the chief executive officer now owns 1,542,551 shares in the company, valued at approximately $31,514,316.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert P. Jornayvaz III sold 5,384 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $19.35, for a total transaction of $104,180.40. Following the transaction, the chief executive officer now owns 1,518,920 shares of the company’s stock, valued at approximately $29,391,102. The disclosure for this sale can be found here. Insiders have sold a total of 96,034 shares of company stock valued at $1,939,525 in the last ninety days. Company insiders own 18.00% of the company’s stock.

Institutional Investors Weigh In On Intrepid Potash

Several hedge funds and other institutional investors have recently bought and sold shares of IPI. Capital International Investors bought a new stake in shares of Intrepid Potash in the 1st quarter valued at approximately $33,390,000. PointState Capital LP bought a new position in shares of Intrepid Potash during the first quarter valued at $30,649,000. Azarias Capital Management L.P. lifted its holdings in shares of Intrepid Potash by 103.1% during the third quarter. Azarias Capital Management L.P. now owns 432,875 shares of the basic materials company’s stock valued at $10,891,000 after acquiring an additional 219,713 shares during the period. Millennium Management LLC bought a new position in shares of Intrepid Potash during the second quarter valued at $9,020,000. Finally, Invesco Ltd. lifted its holdings in shares of Intrepid Potash by 878.0% during the first quarter. Invesco Ltd. now owns 151,361 shares of the basic materials company’s stock valued at $12,433,000 after acquiring an additional 135,885 shares during the period. 56.13% of the stock is currently owned by institutional investors.

Intrepid Potash Trading Down 5.2 %

Shares of IPI traded down $1.06 during mid-day trading on Monday, reaching $19.35. 29,541 shares of the stock traded hands, compared to its average volume of 115,589. The stock has a fifty day simple moving average of $20.10 and a 200 day simple moving average of $20.68. Intrepid Potash has a 12-month low of $17.23 and a 12-month high of $28.30.

Intrepid Potash (NYSE:IPI) last released its quarterly earnings data on Wednesday, March 6th. The basic materials company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.20). Intrepid Potash had a negative return on equity of 0.43% and a negative net margin of 12.78%. The business had revenue of $49.04 million during the quarter, compared to analyst estimates of $41.63 million. Analysts expect that Intrepid Potash will post -0.07 EPS for the current fiscal 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.