MYDA Advisors LLC Purchases 12,000 Shares of Intrepid Potash, Inc. (NYSE:IPI)

MYDA Advisors LLC increased its stake in shares of Intrepid Potash, Inc. (NYSE:IPI) by 66.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,000 shares of the basic materials company’s stock after purchasing an additional 12,000 shares during the quarter. MYDA Advisors LLC owned approximately 0.22% of Intrepid Potash worth $977,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of IPI. Royce & Associates LP lifted its stake in shares of Intrepid Potash by 75.9% during the 1st quarter. Royce & Associates LP now owns 1,048,449 shares of the basic materials company’s stock worth $34,137,000 after purchasing an additional 452,274 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new stake in shares of Intrepid Potash during the 1st quarter worth $4,086,000. Acadian Asset Management LLC lifted its stake in shares of Intrepid Potash by 42.2% during the 1st quarter. Acadian Asset Management LLC now owns 118,539 shares of the basic materials company’s stock worth $3,858,000 after purchasing an additional 35,195 shares during the last quarter. Quinn Opportunity Partners LLC purchased a new stake in shares of Intrepid Potash during the 4th quarter worth $768,000. Finally, BlackRock Inc. lifted its stake in shares of Intrepid Potash by 3.2% during the 1st quarter. BlackRock Inc. now owns 797,758 shares of the basic materials company’s stock worth $25,975,000 after purchasing an additional 24,787 shares during the last quarter. Hedge funds and other institutional investors own 37.20% of the company’s stock.

Shares of IPI stock traded up $0.36 during mid-day trading on Friday, reaching $28.15. The stock had a trading volume of 504 shares, compared to its average volume of 202,048. The business has a fifty day moving average of $29.44. The company has a current ratio of 1.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.04. The company has a market cap of $378.50 million, a price-to-earnings ratio of -20.59 and a beta of 2.13. Intrepid Potash, Inc. has a 1-year low of $7.60 and a 1-year high of $39.19.

Intrepid Potash (NYSE:IPI) last posted its earnings results on Sunday, May 2nd. The basic materials company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.13 by $0.05. The firm had revenue of $59.39 million for the quarter, compared to analyst estimates of $57.80 million. Intrepid Potash had a negative return on equity of 4.12% and a negative net margin of 8.47%. During the same period last year, the company earned ($0.20) earnings per share. Analysts forecast that Intrepid Potash, Inc. will post 0.85 earnings per share for the current year.

A number of brokerages recently weighed in on IPI. Zacks Investment Research cut Intrepid Potash from a “buy” rating to a “hold” rating in a research note on Thursday. TheStreet upgraded Intrepid Potash from a “d+” rating to a “c-” rating in a research note on Friday, March 5th. Roth Capital increased their price target on Intrepid Potash from $11.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, March 4th. Finally, BMO Capital Markets increased their price target on Intrepid Potash from $15.00 to $30.00 and gave the company a “market perform” rating in a research note on Wednesday, March 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $25.90.

About Intrepid Potash

Intrepid Potash, Inc produces and sells potash and langbeinite products in the United States and internationally. It operates through three segments: Potash, Trio, and Oilfield Solutions. The Potash segment offers muriate of potash or potassium chloride for use as a fertilizer input in the agricultural market; as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes in the industrial market; and as a nutrient supplement in the animal feed market.

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Institutional Ownership by Quarter for Intrepid Potash (NYSE:IPI)

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