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

Intrepid Potash, Inc. (NYSE:IPI) was the target of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 269,000 shares, a decrease of 9.4% from the January 15th total of 296,900 shares. Based on an average daily volume of 122,200 shares, the short-interest ratio is currently 2.2 days. Approximately 2.6% of the company’s shares are sold short.

Intrepid Potash Stock Performance

Shares of Intrepid Potash stock traded up $0.56 on Monday, reaching $25.87. 169,219 shares of the company’s stock were exchanged, compared to its average volume of 137,020. The company has a market capitalization of $342.26 million, a P/E ratio of -7.72 and a beta of 2.23. Intrepid Potash has a 52 week low of $18.32 and a 52 week high of $29.75. The firm’s 50-day moving average is $24.72 and its two-hundred day moving average is $24.68.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IPI. UBS Group increased their price objective on shares of Intrepid Potash from $19.00 to $21.00 and gave the stock a “sell” rating in a research report on Tuesday, January 28th. StockNews.com upgraded Intrepid Potash from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th.

Insider Activity at Intrepid Potash

In related news, major shareholder Robert P. Jornayvaz III sold 192,573 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $25.08, for a total value of $4,829,730.84. Following the sale, the insider now directly owns 178,860 shares in the company, valued at $4,485,808.80. This represents a 51.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 428,748 shares of company stock worth $10,870,406 over the last three months. Company insiders own 18.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of IPI. Lazard Asset Management LLC acquired a new position in shares of Intrepid Potash during the fourth quarter valued at about $153,000. Glenorchy Capital Ltd raised its stake in Intrepid Potash by 1.1% during the 4th quarter. Glenorchy Capital Ltd now owns 62,928 shares of the basic materials company’s stock worth $1,379,000 after buying an additional 714 shares during the period. Deutsche Bank AG boosted its holdings in Intrepid Potash by 25.5% in the fourth quarter. Deutsche Bank AG now owns 24,964 shares of the basic materials company’s stock worth $547,000 after acquiring an additional 5,077 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in Intrepid Potash by 25.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 79,162 shares of the basic materials company’s stock valued at $1,735,000 after acquiring an additional 16,018 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of Intrepid Potash by 26.2% during the fourth quarter. Bank of America Corp DE now owns 19,978 shares of the basic materials company’s stock valued at $438,000 after acquiring an additional 4,146 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.