Intrepid Potash, Inc (NYSE:IPI) shares saw strong trading volume on Friday . 2,855,050 shares were traded during mid-day trading, an increase of 54% from the previous session’s volume of 1,852,690 shares.The stock last traded at $3.87 and had previously closed at $3.72.
Several equities analysts recently issued reports on the stock. BMO Capital Markets reiterated a “hold” rating and issued a $2.00 target price on shares of Intrepid Potash in a research note on Friday, July 7th. Zacks Investment Research upgraded shares of Intrepid Potash from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. BidaskClub upgraded shares of Intrepid Potash from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Finally, UBS AG cut shares of Intrepid Potash from a “neutral” rating to a “sell” rating and upped their price objective for the stock from $2.00 to $2.50 in a research report on Monday, August 7th.
The company’s market capitalization is $474.55 million. The firm has a 50-day moving average price of $3.49 and a 200-day moving average price of $2.45.
Intrepid Potash (NYSE:IPI) last released its earnings results on Wednesday, August 2nd. The basic materials company reported ($0.03) EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $37.75 million. During the same quarter last year, the company earned ($0.17) earnings per share. Intrepid Potash’s quarterly revenue was down 15.3% compared to the same quarter last year. On average, equities analysts predict that Intrepid Potash, Inc will post ($0.21) EPS for the current fiscal year.
In other news, major shareholder Clearway Capital Management Lt purchased 17,100 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was acquired at an average price of $3.20 per share, with a total value of $54,720.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert P. Jornayvaz III purchased 20,000 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were purchased at an average cost of $3.31 per share, with a total value of $66,200.00. Following the purchase, the insider now directly owns 1,206,650 shares in the company, valued at $3,994,011.50. The disclosure for this purchase can be found here. Insiders have bought a total of 2,122,031 shares of company stock valued at $6,603,387 in the last ninety days. Corporate insiders own 27.30% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System acquired a new position in shares of Intrepid Potash during the 2nd quarter worth $379,000. The Manufacturers Life Insurance Company raised its stake in shares of Intrepid Potash by 3,775.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 84,205 shares of the basic materials company’s stock worth $190,000 after buying an additional 82,032 shares during the last quarter. State Street Corp raised its stake in shares of Intrepid Potash by 3,191.0% during the 2nd quarter. State Street Corp now owns 1,144,560 shares of the basic materials company’s stock worth $2,590,000 after buying an additional 1,109,782 shares during the last quarter. Brandywine Global Investment Management LLC raised its stake in shares of Intrepid Potash by 176.2% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 69,823 shares of the basic materials company’s stock worth $158,000 after buying an additional 44,543 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Intrepid Potash by 27.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,745,882 shares of the basic materials company’s stock valued at $3,946,000 after purchasing an additional 371,180 shares during the last quarter. 47.26% of the stock is owned by institutional investors and hedge funds.
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Intrepid Potash Company Profile
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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