Intrepid Potash, Inc. (NYSE:IPI) Sees Significant Drop in Short Interest

Intrepid Potash, Inc. (NYSE:IPI) saw a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 444,200 shares, a decrease of 9.5% from the March 15th total of 490,800 shares. Based on an average trading volume of 117,100 shares, the days-to-cover ratio is currently 3.8 days. Currently, 4.6% of the company’s shares are sold short.

Insider Buying and Selling at Intrepid Potash

In other Intrepid Potash news, CEO Robert P. Jornayvaz III sold 11,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $20.22, for a total value of $222,420.00. Following the transaction, the chief executive officer now owns 1,531,551 shares of the company’s stock, valued at approximately $30,967,961.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Robert P. Jornayvaz III sold 5,384 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $19.35, for a total transaction of $104,180.40. Following the transaction, the chief executive officer now owns 1,518,920 shares of the company’s stock, valued at approximately $29,391,102. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 value of $222,420.00. Following the transaction, the chief executive officer now directly owns 1,531,551 shares in the company, valued at approximately $30,967,961.22. The disclosure for this sale can be found here. Insiders have sold 96,034 shares of company stock valued at $1,939,525 in the last quarter. 18.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Intrepid Potash

A number of hedge funds have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. purchased a new stake in Intrepid Potash in the first quarter valued at about $1,172,000. American Century Companies Inc. raised its position in Intrepid Potash by 67.1% during the first quarter. American Century Companies Inc. now owns 25,581 shares of the basic materials company’s stock valued at $2,101,000 after acquiring an additional 10,276 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in Intrepid Potash during the first quarter valued at approximately $604,000. MetLife Investment Management LLC increased its position in shares of Intrepid Potash by 57.0% in the first quarter. MetLife Investment Management LLC now owns 5,611 shares of the basic materials company’s stock valued at $461,000 after buying an additional 2,037 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its position in shares of Intrepid Potash by 26.2% in the first quarter. Panagora Asset Management Inc. now owns 7,022 shares of the basic materials company’s stock valued at $577,000 after buying an additional 1,459 shares in the last quarter. 56.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Intrepid Potash Stock Up 2.3 %

Shares of NYSE IPI traded up $0.44 during mid-day trading on Wednesday, reaching $19.48. 39,763 shares of the company were exchanged, compared to its average volume of 115,837. The stock has a market cap of $258.30 million, a price-to-earnings ratio of -6.82 and a beta of 2.18. Intrepid Potash has a 1 year low of $17.23 and a 1 year high of $28.30. The firm has a 50-day moving average of $20.15 and a 200 day moving average of $20.60.

Intrepid Potash (NYSE:IPI) last issued its quarterly earnings data on Wednesday, March 6th. The basic materials company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.20). The company had revenue of $49.04 million for the quarter, compared to analysts’ expectations of $41.63 million. Intrepid Potash had a negative return on equity of 0.43% and a negative net margin of 12.78%. On average, equities analysts forecast that Intrepid Potash will post -0.07 earnings per share for the current year.

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.