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

Intrepid Potash, Inc. (NYSE:IPI) was the recipient of a significant decline in short interest in July. As of July 31st, there was short interest totalling 364,000 shares, a decline of 8.2% from the July 15th total of 396,700 shares. Based on an average daily volume of 93,100 shares, the days-to-cover ratio is presently 3.9 days. Currently, 3.7% of the company’s stock are sold short.

Analyst Ratings Changes

A number of analysts have weighed in on IPI shares. StockNews.com raised Intrepid Potash to a “sell” rating in a research report on Friday, May 10th. BMO Capital Markets lifted their price target on shares of Intrepid Potash from $21.00 to $23.00 and gave the company a “market perform” rating in a research report on Friday, May 10th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Rhumbline Advisers increased its stake in shares of Intrepid Potash by 5.0% in the 2nd quarter. Rhumbline Advisers now owns 17,997 shares of the basic materials company’s stock valued at $422,000 after buying an additional 861 shares during the period. Empowered Funds LLC lifted its position in Intrepid Potash by 7.7% during the 1st quarter. Empowered Funds LLC now owns 31,732 shares of the basic materials company’s stock valued at $662,000 after purchasing an additional 2,275 shares during the period. AQR Capital Management LLC boosted its stake in shares of Intrepid Potash by 5.2% in the 2nd quarter. AQR Capital Management LLC now owns 46,364 shares of the basic materials company’s stock valued at $1,086,000 after purchasing an additional 2,306 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Intrepid Potash by 28.3% during the fourth quarter. Principal Financial Group Inc. now owns 12,995 shares of the basic materials company’s stock worth $310,000 after buying an additional 2,864 shares during the last quarter. Finally, Goehring & Rozencwajg Associates LLC lifted its holdings in Intrepid Potash by 3.4% in the fourth quarter. Goehring & Rozencwajg Associates LLC now owns 162,024 shares of the basic materials company’s stock valued at $3,871,000 after buying an additional 5,270 shares during the period. 56.13% of the stock is owned by institutional investors.

Intrepid Potash Stock Performance

Shares of IPI stock traded up $0.54 during trading hours on Monday, hitting $22.31. The company had a trading volume of 42,299 shares, compared to its average volume of 101,153. Intrepid Potash has a 12 month low of $17.52 and a 12 month high of $28.00. The firm’s fifty day moving average is $23.85 and its 200 day moving average is $22.31. The firm has a market capitalization of $296.03 million, a price-to-earnings ratio of -6.60 and a beta of 2.22.

Intrepid Potash (NYSE:IPI) last posted its earnings results on Monday, August 5th. The basic materials company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.08). The firm had revenue of $62.06 million during the quarter, compared to the consensus estimate of $50.88 million. Intrepid Potash had a negative return on equity of 1.37% and a negative net margin of 15.95%. During the same period in the previous year, the company posted $0.33 EPS. On average, sell-side analysts expect that Intrepid Potash will post 0.18 EPS for the current fiscal 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.