Intrepid Potash, Inc. (NYSE:IPI) Sees Significant Growth in Short Interest

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. UBS Group raised their target price on Intrepid Potash from $19.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, January 28th. StockNews.com raised shares of Intrepid Potash from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th.

Intrepid Potash Price Performance

Shares of NYSE IPI traded up $0.08 during mid-day trading on Tuesday, reaching $26.64. 64,121 shares of the company traded hands, compared to its average volume of 124,720. Intrepid Potash has a fifty-two week low of $17.52 and a fifty-two week high of $29.75. The firm has a market cap of $352.38 million, a PE ratio of -7.95 and a beta of 2.23. The stock has a fifty day simple moving average of $24.98 and a 200-day simple moving average of $24.70.

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

Insider Activity

In related news, major shareholder Robert P. Jornayvaz III sold 159,513 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $25.12, for a total value of $4,006,966.56. Following the transaction, the insider now directly owns 1,285,000 shares of the company’s stock, valued at $32,279,200. This trade represents a 11.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold 428,748 shares of company stock worth $10,870,406 over the last three months. Insiders own 18.00% of the company’s stock.

Institutional Trading of Intrepid Potash

A number of hedge funds have recently made changes to their positions in the stock. R Squared Ltd purchased a new stake in Intrepid Potash in the 4th quarter worth approximately $38,000. SG Americas Securities LLC acquired a new position in Intrepid Potash in the 3rd quarter worth about $142,000. Quest Partners LLC lifted its holdings in shares of Intrepid Potash by 24,863.2% during the 3rd quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company’s stock valued at $228,000 after buying an additional 9,448 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Intrepid Potash in the second quarter valued at approximately $303,000. Finally, Barclays PLC raised its holdings in Intrepid Potash by 282.6% during the third 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 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.