Shares of Intrepid Potash, Inc (NYSE:IPI) gapped up before the market opened on Monday . The stock had previously closed at $3.75, but opened at $3.87. Intrepid Potash shares last traded at $4.06, with a volume of 2,721,120 shares changing hands.

A number of research firms have recently issued reports on IPI. BidaskClub raised shares of Intrepid Potash from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research cut shares of Intrepid Potash from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 26th. BMO Capital Markets reissued a “hold” rating and set a $2.00 price objective on shares of Intrepid Potash in a research report on Friday, July 7th. Finally, UBS AG cut shares of Intrepid Potash from a “neutral” rating to a “sell” rating and increased their price objective for the stock from $2.00 to $2.50 in a research report on Monday, August 7th.

The company’s market cap is $497.85 million. The stock has a 50-day moving average price of $3.49 and a 200-day moving average price of $2.45.

Intrepid Potash (NYSE:IPI) last announced its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.03. Intrepid Potash had a negative net margin of 30.56% and a negative return on equity of 12.37%. The company had revenue of $43.90 million for the quarter, compared to analysts’ expectations of $37.75 million. During the same quarter in the previous year, the company earned ($0.17) earnings per share. Intrepid Potash’s quarterly revenue was down 15.3% on a year-over-year basis. Equities analysts forecast that Intrepid Potash, Inc will post ($0.21) earnings per share for the current fiscal year.

In other Intrepid Potash news, major shareholder Clearway Capital Management Lt acquired 300,000 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The shares were acquired at an average price of $2.83 per share, with a total value of $849,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert P. Jornayvaz III acquired 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were acquired at an average cost of $3.31 per share, for a total transaction of $66,200.00. Following the purchase, the insider now directly owns 1,206,650 shares of the company’s stock, valued at $3,994,011.50. The disclosure for this purchase can be found here. Insiders have purchased 2,122,031 shares of company stock worth $6,603,387 in the last quarter. 27.30% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Radnor Capital Management LLC boosted its stake in Intrepid Potash by 87.1% during the second quarter. Radnor Capital Management LLC now owns 46,400 shares of the basic materials company’s stock worth $105,000 after acquiring an additional 21,600 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Intrepid Potash by 12.3% during the second quarter. Wells Fargo & Company MN now owns 57,809 shares of the basic materials company’s stock worth $131,000 after acquiring an additional 6,336 shares in the last quarter. New York State Common Retirement Fund bought a new stake in Intrepid Potash during the second quarter worth about $132,000. Nationwide Fund Advisors boosted its stake in Intrepid Potash by 324.6% during the second quarter. Nationwide Fund Advisors now owns 69,865 shares of the basic materials company’s stock worth $158,000 after acquiring an additional 53,410 shares in the last quarter. Finally, Brandywine Global Investment Management LLC boosted its stake in Intrepid Potash by 176.2% during the second quarter. Brandywine Global Investment Management LLC now owns 69,823 shares of the basic materials company’s stock worth $158,000 after acquiring an additional 44,543 shares in the last quarter. 47.26% of the stock is currently owned by institutional investors and hedge funds.

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About Intrepid Potash

Intrepid Potash, Inc is a producer of muriate of potash (potassium chloride or potash) and langbeinite (sulfate of potash magnesia) in the United States, which it markets and sells as Trio. The Company operates in the extraction, production and sale of potassium-related products. Its products are potash and Trio.

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