Short Interest in Intrepid Potash, Inc. (NYSE:IPI) Decreases By 9.4%

Intrepid Potash, Inc. (NYSE:IPI) was the target of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 269,000 shares, a decrease of 9.4% from the January 15th total of 296,900 shares. Based on an average daily volume of 122,200 shares, the days-to-cover ratio is presently 2.2 days. Currently, 2.6% of the company’s stock are sold short.

Insider Activity

In related news, major shareholder Robert P. Jornayvaz III sold 3,557 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $25.00, for a total value of $88,925.00. Following the sale, the insider now owns 129,230 shares of the company’s stock, valued at $3,230,750. This trade represents a 2.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders sold 428,748 shares of company stock worth $10,870,406. 18.00% of the stock is currently owned by company insiders.

Institutional Trading of Intrepid Potash

Several large investors have recently modified their holdings of the company. R Squared Ltd bought a new position in shares of Intrepid Potash during the fourth quarter valued at approximately $38,000. State of Wyoming acquired a new stake in Intrepid Potash in the 4th quarter valued at approximately $46,000. BNP Paribas Financial Markets purchased a new stake in shares of Intrepid Potash during the fourth quarter worth $87,000. Aquatic Capital Management LLC increased its holdings in Intrepid Potash by 274.3% in the fourth quarter. Aquatic Capital Management LLC now owns 5,614 shares of the basic materials company’s stock valued at $123,000 after buying an additional 4,114 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Intrepid Potash in the third quarter valued at $142,000. Institutional investors own 56.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on IPI shares. UBS Group raised their price objective on shares of Intrepid Potash from $19.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday, January 28th. StockNews.com upgraded Intrepid Potash from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th.

Intrepid Potash Stock Up 2.2 %

NYSE:IPI opened at $25.87 on Tuesday. The business’s 50-day moving average price is $24.73 and its two-hundred day moving average price is $24.69. Intrepid Potash has a twelve month low of $18.32 and a twelve month high of $29.75.

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.