Shares of Intrepid Potash, Inc (NYSE:IPI) were down 5.6% during trading on Monday . The stock traded as low as $3.53 and last traded at $3.57. Approximately 1,699,856 shares changed hands during trading, a decline of 1% from the average daily volume of 1,719,110 shares. The stock had previously closed at $3.78.

Several analysts have commented on IPI shares. Zacks Investment Research upgraded shares of Intrepid Potash from a “sell” rating to a “buy” rating and set a $3.75 target price on the stock in a report on Wednesday, August 9th. BidaskClub upgraded shares of Intrepid Potash from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. BMO Capital Markets restated a “hold” rating and set a $2.00 target price on shares of Intrepid Potash in a report on Friday, July 7th. Finally, UBS AG downgraded shares of Intrepid Potash from a “neutral” rating to a “sell” rating and raised their target price for the stock from $2.00 to $2.50 in a report on Monday, August 7th.

The firm’s market cap is $437.76 million. The stock’s 50 day moving average price is $3.97 and its 200-day moving average price is $2.91.

Intrepid Potash (NYSE:IPI) last issued its earnings results on Wednesday, August 2nd. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.03. Intrepid Potash had a negative return on equity of 12.37% and a negative net margin of 30.56%. The company had revenue of $43.90 million for the quarter, compared to analysts’ expectations of $37.75 million. During the same period last year, the business earned ($0.17) EPS. Intrepid Potash’s quarterly revenue was down 15.3% compared to the same quarter last year. Analysts predict that Intrepid Potash, Inc will post ($0.20) EPS for the current fiscal year.

In other news, major shareholder Clearway Capital Management Lt bought 592,883 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The shares were bought at an average cost of $2.89 per share, for a total transaction of $1,713,431.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Robert P. Jornayvaz III bought 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was purchased at an average price of $3.31 per share, for a total transaction of $66,200.00. Following the completion of the acquisition, the insider now owns 1,206,650 shares in the company, valued at $3,994,011.50. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 1,822,031 shares of company stock worth $5,754,387. 27.30% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Radnor Capital Management LLC raised its position in Intrepid Potash by 87.1% in the 2nd quarter. Radnor Capital Management LLC now owns 46,400 shares of the basic materials company’s stock valued at $105,000 after buying an additional 21,600 shares during the last quarter. Wells Fargo & Company MN raised its position in Intrepid Potash by 12.3% in the 2nd quarter. Wells Fargo & Company MN now owns 57,809 shares of the basic materials company’s stock valued at $131,000 after buying an additional 6,336 shares during the last quarter. New York State Common Retirement Fund purchased a new stake in Intrepid Potash in the 2nd quarter valued at $132,000. Nationwide Fund Advisors raised its position in Intrepid Potash by 324.6% in the 2nd quarter. Nationwide Fund Advisors now owns 69,865 shares of the basic materials company’s stock valued at $158,000 after buying an additional 53,410 shares during the last quarter. Finally, Brandywine Global Investment Management LLC raised its position in Intrepid Potash by 176.2% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 69,823 shares of the basic materials company’s stock valued at $158,000 after buying an additional 44,543 shares during the last quarter. 47.26% of the stock is 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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