Intrepid Potash, Inc. (NYSE:IPI) Short Interest Up 6.3% in September

Intrepid Potash, Inc. (NYSE:IPI) saw a significant growth in short interest in September. As of September 30th, there was short interest totalling 327,100 shares, a growth of 6.3% from the September 15th total of 307,600 shares. Based on an average daily volume of 62,500 shares, the short-interest ratio is currently 5.2 days. Currently, 3.3% of the company’s stock are sold short.

Intrepid Potash Price Performance

NYSE:IPI opened at $24.46 on Friday. The company has a market capitalization of $324.56 million, a P/E ratio of -7.24 and a beta of 2.18. The business has a fifty day simple moving average of $23.50 and a two-hundred day simple moving average of $23.47. Intrepid Potash has a 1 year low of $17.52 and a 1 year high of $28.00.

Intrepid Potash (NYSE:IPI) last issued its earnings results on Monday, August 5th. The basic materials company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.08). Intrepid Potash had a negative return on equity of 2.02% and a negative net margin of 19.19%. The firm had revenue of $62.06 million during the quarter, compared to analysts’ expectations of $50.88 million. During the same period in the previous year, the firm earned $0.33 earnings per share. As a group, analysts anticipate that Intrepid Potash will post 0.27 earnings per share for the current year.

Institutional Trading of Intrepid Potash

Hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers boosted its position in shares of Intrepid Potash by 5.0% during the 2nd quarter. Rhumbline Advisers now owns 17,997 shares of the basic materials company’s stock valued at $422,000 after acquiring an additional 861 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Intrepid Potash by 7.7% during the first quarter. Empowered Funds LLC now owns 31,732 shares of the basic materials company’s stock valued at $662,000 after buying an additional 2,275 shares during the period. AQR Capital Management LLC lifted its position in shares of Intrepid Potash by 5.2% in the 2nd quarter. AQR Capital Management LLC now owns 46,364 shares of the basic materials company’s stock worth $1,086,000 after purchasing an additional 2,306 shares during the period. SG Americas Securities LLC purchased a new position in shares of Intrepid Potash in the 3rd quarter valued at $142,000. Finally, Bank of New York Mellon Corp boosted its stake in Intrepid Potash by 14.7% in the second quarter. Bank of New York Mellon Corp now owns 51,775 shares of the basic materials company’s stock valued at $1,213,000 after acquiring an additional 6,632 shares in the last quarter. Institutional investors own 56.13% of the company’s stock.

About Intrepid Potash

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.