Intrepid Potash, Inc. (NYSE:IPI) Short Interest Down 9.5% in March

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

Analyst Ratings Changes

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

Intrepid Potash Stock Down 0.8 %

Intrepid Potash stock traded down $0.16 during mid-day trading on Wednesday, hitting $19.04. The company’s stock had a trading volume of 82,776 shares, compared to its average volume of 104,263. The stock has a market capitalization of $252.47 million, a P/E ratio of -6.82 and a beta of 2.18. Intrepid Potash has a twelve month low of $17.23 and a twelve month high of $28.30. The stock’s fifty day moving average price is $20.15 and its two-hundred day moving average price is $20.60.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings results on Wednesday, March 6th. The basic materials company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.20). The business had revenue of $49.04 million during the quarter, compared to analyst estimates of $41.63 million. Intrepid Potash had a negative return on equity of 0.43% and a negative net margin of 12.78%. Equities analysts expect that Intrepid Potash will post -0.07 earnings per share for the current year.

Insider Activity at Intrepid Potash

In related news, CEO Robert P. Jornayvaz III sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $20.22, for a total transaction of $222,420.00. Following the transaction, the chief executive officer now owns 1,531,551 shares in the company, valued at $30,967,961.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Robert P. Jornayvaz III sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $20.22, for a total transaction of $222,420.00. Following the transaction, the chief executive officer now owns 1,531,551 shares in the company, valued at $30,967,961.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert P. Jornayvaz III sold 16,278 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $19.55, for a total transaction of $318,234.90. Following the transaction, the chief executive officer now owns 1,490,436 shares in the company, valued at approximately $29,138,023.80. The disclosure for this sale can be found here. Insiders have sold 96,034 shares of company stock worth $1,939,525 over the last quarter. 18.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in IPI. BlackRock Inc. boosted its stake in Intrepid Potash by 1.3% in the 2nd quarter. BlackRock Inc. now owns 845,209 shares of the basic materials company’s stock worth $19,178,000 after purchasing an additional 11,035 shares during the period. Dimensional Fund Advisors LP boosted its stake in Intrepid Potash by 3.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 799,972 shares of the basic materials company’s stock worth $22,079,000 after purchasing an additional 27,444 shares during the period. Azarias Capital Management L.P. boosted its stake in Intrepid Potash by 39.5% in the 4th quarter. Azarias Capital Management L.P. now owns 604,042 shares of the basic materials company’s stock worth $14,431,000 after purchasing an additional 171,167 shares during the period. Vanguard Group Inc. boosted its stake in Intrepid Potash by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 574,999 shares of the basic materials company’s stock worth $22,753,000 after purchasing an additional 22,160 shares during the period. Finally, Capital International Investors acquired a new position in Intrepid Potash in the 1st quarter worth approximately $33,390,000. Institutional investors and hedge funds own 56.13% of the company’s stock.

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.