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

Intrepid Potash, Inc. (NYSE:IPI) saw a significant drop in short interest in June. As of June 15th, there was short interest totalling 415,300 shares, a drop of 7.8% from the May 31st total of 450,600 shares. Based on an average daily volume of 101,100 shares, the days-to-cover ratio is presently 4.1 days. Approximately 4.2% of the company’s shares are short sold.

Institutional Trading of Intrepid Potash

Several institutional investors and hedge funds have recently bought and sold shares of IPI. Tower Research Capital LLC TRC boosted its position in Intrepid Potash by 77.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,273 shares of the basic materials company’s stock worth $78,000 after purchasing an additional 1,432 shares during the period. Marquette Asset Management LLC acquired a new position in Intrepid Potash in the 1st quarter valued at about $144,000. Aristides Capital LLC bought a new position in Intrepid Potash in the 4th quarter valued at about $245,000. Principal Financial Group Inc. lifted its position in Intrepid Potash by 28.3% during the fourth quarter. Principal Financial Group Inc. now owns 12,995 shares of the basic materials company’s stock worth $310,000 after acquiring an additional 2,864 shares during the last quarter. Finally, Glenorchy Capital Ltd acquired a new position in shares of Intrepid Potash in the fourth quarter valued at approximately $381,000. Institutional investors own 56.13% of the company’s stock.

Intrepid Potash Trading Up 2.6 %

Shares of IPI stock traded up $0.58 on Wednesday, hitting $23.31. 34,121 shares of the stock were exchanged, compared to its average volume of 108,143. The firm has a market capitalization of $309.32 million, a P/E ratio of -6.90 and a beta of 2.23. Intrepid Potash has a fifty-two week low of $17.52 and a fifty-two week high of $28.30. The business has a 50-day moving average of $24.08 and a 200 day moving average of $21.80.

Intrepid Potash (NYSE:IPI) last released its quarterly earnings results on Wednesday, May 8th. The basic materials company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.18). The firm had revenue of $66.46 million for the quarter, compared to analyst estimates of $62.87 million. Intrepid Potash had a negative return on equity of 1.37% and a negative net margin of 15.95%. As a group, research analysts forecast that Intrepid Potash will post 0.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on IPI shares. BMO Capital Markets boosted their price target on shares of Intrepid Potash from $21.00 to $23.00 and gave the company a “market perform” rating in a report on Friday, May 10th. StockNews.com upgraded shares of Intrepid Potash to a “sell” rating in a report on Friday, May 10th.

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.