Intrepid Potash, Inc. (IPI) Sees Significant Decline in Short Interest

Intrepid Potash, Inc. (NYSE:IPI) saw a significant decrease in short interest in the month of December. As of December 29th, there was short interest totalling 4,785,131 shares, a decrease of 47.5% from the December 15th total of 9,121,544 shares. Based on an average daily volume of 1,607,085 shares, the short-interest ratio is currently 3.0 days. Approximately 5.1% of the company’s stock are sold short.

In other news, insider Robert P. Jornayvaz III purchased 10,000 shares of Intrepid Potash stock in a transaction that occurred on Tuesday, December 19th. The shares were bought at an average cost of $3.85 per share, with a total value of $38,500.00. Following the completion of the purchase, the insider now directly owns 1,206,650 shares in the company, valued at $4,645,602.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James N. Whyte sold 86,796 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $3.84, for a total value of $333,296.64. Following the completion of the sale, the executive vice president now directly owns 360,903 shares in the company, valued at $1,385,867.52. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 25,100 shares of company stock worth $93,003. 27.30% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in IPI. Schwab Charles Investment Management Inc. bought a new position in shares of Intrepid Potash during the second quarter valued at $361,000. Rhumbline Advisers bought a new position in shares of Intrepid Potash during the second quarter valued at $241,000. Wells Fargo & Company MN lifted its holdings in shares of Intrepid Potash by 12.3% during the second quarter. Wells Fargo & Company MN now owns 57,809 shares of the basic materials company’s stock valued at $131,000 after purchasing an additional 6,336 shares in the last quarter. Teachers Advisors LLC bought a new position in shares of Intrepid Potash during the second quarter valued at $381,000. Finally, TIAA CREF Investment Management LLC bought a new position in shares of Intrepid Potash during the second quarter valued at $575,000. 47.88% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Intrepid Potash (NYSE IPI) opened at $4.16 on Thursday. Intrepid Potash has a 12 month low of $1.24 and a 12 month high of $5.12. The company has a market capitalization of $530.93, a price-to-earnings ratio of -9.24 and a beta of 1.12. The company has a quick ratio of 1.17, a current ratio of 4.71 and a debt-to-equity ratio of 0.15.

Intrepid Potash (NYSE:IPI) last released its earnings results on Monday, October 30th. The basic materials company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. Intrepid Potash had a negative return on equity of 8.09% and a negative net margin of 22.88%. The firm had revenue of $32.06 million for the quarter, compared to analysts’ expectations of $33.15 million. During the same period in the prior year, the firm posted ($0.22) earnings per share. The company’s quarterly revenue was down 26.5% on a year-over-year basis. equities research analysts anticipate that Intrepid Potash will post -0.15 EPS for the current year.

A number of equities research analysts have recently commented on IPI shares. Stephens started coverage on Intrepid Potash in a research note on Monday, December 4th. They issued an “equal weight” rating and a $4.00 target price on the stock. BMO Capital Markets increased their target price on Intrepid Potash from $3.00 to $4.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 31st. Finally, Cowen reissued a “sell” rating and issued a $3.50 target price on shares of Intrepid Potash in a research note on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $3.55.

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Intrepid Potash Company Profile

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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