Intrepid Potash, Inc. (IPI) Insider Buys $115,000.00 in Stock
Intrepid Potash, Inc. (NYSE:IPI) insider Robert P. Jornayvaz III bought 50,000 shares of the stock in a transaction on Monday, May 22nd. The stock was purchased at an average price of $2.30 per share, with a total value of $115,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Robert P. Jornayvaz III also recently made the following trade(s):
- On Tuesday, March 21st, Robert P. Jornayvaz III bought 6,300,000 shares of Intrepid Potash stock. The stock was purchased at an average price of $1.20 per share, with a total value of $7,560,000.00.
Intrepid Potash, Inc. (NYSE:IPI) remained flat at $2.29 on Monday. The company’s stock had a trading volume of 1,335,960 shares. The firm’s market cap is $281.08 million. The stock has a 50-day moving average of $1.97 and a 200-day moving average of $1.88. Intrepid Potash, Inc. has a 52 week low of $0.93 and a 52 week high of $3.04.
Intrepid Potash (NYSE:IPI) last issued its earnings results on Tuesday, May 2nd. The basic materials company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by $0.06. Intrepid Potash had a negative net margin of 268.61% and a negative return on equity of 16.76%. The company had revenue of $48.30 million during the quarter, compared to analyst estimates of $33.18 million. During the same quarter in the previous year, the company posted ($0.22) EPS. The company’s quarterly revenue was down 34.1% on a year-over-year basis. Analysts forecast that Intrepid Potash, Inc. will post ($0.29) earnings per share for the current year.
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Separately, Zacks Investment Research downgraded shares of Intrepid Potash from a “buy” rating to a “hold” rating in a research note on Tuesday, May 9th.
A number of hedge funds have recently modified their holdings of IPI. Dimensional Fund Advisors LP boosted its stake in shares of Intrepid Potash by 40.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 936,918 shares of the basic materials company’s stock worth $1,949,000 after buying an additional 267,978 shares in the last quarter. FMR LLC boosted its stake in shares of Intrepid Potash by 203.7% in the fourth quarter. FMR LLC now owns 4,866,500 shares of the basic materials company’s stock worth $10,123,000 after buying an additional 3,263,900 shares in the last quarter. Sii Investments Inc. WI acquired a new stake in shares of Intrepid Potash during the fourth quarter worth $131,000. Koch Industries Inc. acquired a new stake in shares of Intrepid Potash during the fourth quarter worth $2,725,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Intrepid Potash by 21.6% in the fourth quarter. Renaissance Technologies LLC now owns 4,255,050 shares of the basic materials company’s stock worth $8,851,000 after buying an additional 754,550 shares in the last quarter. Hedge funds and other institutional investors own 42.60% of the company’s stock.
About Intrepid Potash
Intrepid Potash, Inc is a producer of muriate of potash (potassium chloride or potash) and langbeinite (sulfate of potash magnesia) in the United States, which it markets and sells as Trio. The Company operates in the extraction, production and sale of potassium-related products. Its products are potash and Trio.
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