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

Intrepid Potash, Inc. (NYSE:IPI) was the target of a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 444,200 shares, a decline 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 presently 3.8 days. Currently, 4.6% of the company’s shares are sold short.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Intrepid Potash news, CEO Robert P. Jornayvaz III sold 11,000 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $20.22, for a total value of $222,420.00. Following the sale, the chief executive officer now directly owns 1,531,551 shares in the company, valued at $30,967,961.22. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Intrepid Potash news, CEO Robert P. Jornayvaz III sold 63,372 shares of the 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 sale, the chief executive officer now directly owns 1,542,551 shares in the company, valued at $31,514,316.93. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert P. Jornayvaz III sold 11,000 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $20.22, for a total transaction of $222,420.00. Following the completion of the sale, the chief executive officer now owns 1,531,551 shares in the company, valued at $30,967,961.22. The disclosure for this sale can be found here. Insiders sold a total of 96,034 shares of company stock valued at $1,939,525 over the last ninety days. Insiders own 18.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in IPI. Point72 Middle East FZE bought a new position in Intrepid Potash in the fourth quarter valued at $34,000. Captrust Financial Advisors grew its position in Intrepid Potash by 480.3% in the second quarter. Captrust Financial Advisors now owns 882 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 730 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Intrepid Potash by 291.7% in the third quarter. Tower Research Capital LLC TRC now owns 1,841 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 1,371 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Intrepid Potash by 77.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,273 shares of the basic materials company’s stock valued at $78,000 after acquiring an additional 1,432 shares during the period. Finally, Ensign Peak Advisors Inc bought a new position in shares of Intrepid Potash in the 3rd quarter valued at about $82,000. Institutional investors own 56.13% of the company’s stock.

Intrepid Potash Stock Down 0.8 %

Shares of NYSE:IPI traded down $0.16 during midday trading on Wednesday, reaching $19.04. 82,776 shares of the company were exchanged, compared to its average volume of 104,263. Intrepid Potash has a fifty-two week low of $17.23 and a fifty-two week high of $28.30. The stock has a fifty day simple moving average of $20.15 and a two-hundred day simple moving average of $20.60. The firm has a market cap of $252.47 million, a PE ratio of -6.82 and a beta of 2.18.

Intrepid Potash (NYSE:IPI) last issued 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 company had revenue of $49.04 million for the quarter, compared to analyst estimates of $41.63 million. As a group, analysts forecast that Intrepid Potash will post -0.07 earnings per share for the current 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.