Intrepid Potash, Inc. (NYSE:IPI) Short Interest Up 6.3% in September

by · The Markets Daily

Intrepid Potash, Inc. (NYSE:IPI – Get Free Report) was the target of a large increase in short interest in September. As of September 30th, there was short interest totalling 327,100 shares, an increase of 6.3% from the September 15th total of 307,600 shares. Based on an average daily trading volume, of 62,500 shares, the days-to-cover ratio is currently 5.2 days. Currently, 3.3% of the shares of the stock are short sold.

Intrepid Potash Trading Down 1.5 %

IPI traded down $0.37 during trading on Thursday, hitting $24.03. 15,068 shares of the company traded hands, compared to its average volume of 90,549. The company has a market cap of $318.85 million, a PE ratio of -7.12 and a beta of 2.18. The stock’s 50-day simple moving average is $23.44 and its two-hundred day simple moving average is $23.47. Intrepid Potash has a 1 year low of $17.52 and a 1 year high of $28.00.

Intrepid Potash (NYSE:IPI – Get Free Report) last released its quarterly earnings data on Monday, August 5th. The basic materials company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.08). Intrepid Potash had a negative net margin of 19.19% and a negative return on equity of 2.02%. The company had revenue of $62.06 million for the quarter, compared to the consensus estimate of $50.88 million. During the same period last year, the company earned $0.33 EPS. Equities analysts expect that Intrepid Potash will post 0.27 EPS for the current year.

Hedge Funds Weigh In On Intrepid Potash

Several institutional investors have recently added to or reduced their stakes in the company. Azarias Capital Management L.P. lifted its position in Intrepid Potash by 12.2% during the first quarter. Azarias Capital Management L.P. now owns 677,704 shares of the basic materials company’s stock valued at $14,137,000 after purchasing an additional 73,662 shares during the last quarter. Empowered Funds LLC raised its position in shares of 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 buying an additional 2,275 shares in the last quarter. Marquette Asset Management LLC bought a new position in shares of Intrepid Potash in the 1st quarter valued at about $144,000. First Eagle Investment Management LLC grew its position in Intrepid Potash by 19.4% in the first quarter. First Eagle Investment Management LLC now owns 481,670 shares of the basic materials company’s stock worth $10,048,000 after acquiring an additional 78,200 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Intrepid Potash by 2.6% during the first quarter. Vanguard Group Inc. now owns 553,185 shares of the basic materials company’s stock worth $11,539,000 after acquiring an additional 14,133 shares during the last quarter. Hedge funds and other institutional investors own 56.13% of the company’s stock.

About Intrepid Potash

(Get Free Report)

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.

Read More