Intrepid Potash, Inc. (NYSE:IPI) Short Interest Update

Intrepid Potash, Inc. (NYSE:IPI) saw a significant decline in short interest in the month of June. As of June 15th, there was short interest totalling 415,300 shares, a decline of 7.8% from the May 31st total of 450,600 shares. Currently, 4.2% of the shares of the company are sold short. Based on an average daily volume of 101,100 shares, the short-interest ratio is currently 4.1 days.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on IPI shares. StockNews.com upgraded shares of Intrepid Potash to a “sell” rating in a research report on Friday, May 10th. BMO Capital Markets upped their price objective on shares of Intrepid Potash from $21.00 to $23.00 and gave the stock a “market perform” rating in a research report on Friday, May 10th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC raised its position in shares of Intrepid Potash by 77.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,273 shares of the basic materials company’s stock worth $78,000 after purchasing an additional 1,432 shares during the last quarter. Marquette Asset Management LLC purchased a new stake in Intrepid Potash during the 1st quarter valued at about $144,000. Aristides Capital LLC purchased a new stake in Intrepid Potash during the 4th quarter valued at about $245,000. Principal Financial Group Inc. grew its stake in Intrepid Potash by 28.3% during the 4th quarter. Principal Financial Group Inc. now owns 12,995 shares of the basic materials company’s stock valued at $310,000 after acquiring an additional 2,864 shares in the last quarter. Finally, Glenorchy Capital Ltd purchased a new stake in Intrepid Potash during the 4th quarter valued at about $381,000. Institutional investors and hedge funds own 56.13% of the company’s stock.

Intrepid Potash Trading Up 2.6 %

Shares of Intrepid Potash stock traded up $0.59 during trading hours on Wednesday, reaching $23.32. The stock had a trading volume of 39,606 shares, compared to its average volume of 108,143. The stock’s 50 day moving average is $24.01 and its 200 day moving average is $21.79. The firm has a market capitalization of $309.46 million, a PE ratio of -6.90 and a beta of 2.23. Intrepid Potash has a twelve month low of $17.52 and a twelve month high of $28.30.

Intrepid Potash (NYSE:IPI) last issued its quarterly earnings data on Wednesday, May 8th. The basic materials company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.18). The firm had revenue of $66.46 million during the quarter, compared to analyst estimates of $62.87 million. Intrepid Potash had a negative return on equity of 1.37% and a negative net margin of 15.95%. As a group, sell-side analysts predict that Intrepid Potash will post 0.15 earnings per share for the current year.

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.