Short Interest in Intrepid Potash, Inc. (NYSE:IPI) Decreases By 9.4%

Intrepid Potash, Inc. (NYSE:IPI) was the target of a significant decrease in short interest in January. As of January 31st, there was short interest totalling 269,000 shares, a decrease of 9.4% from the January 15th total of 296,900 shares. Based on an average daily trading volume, of 122,200 shares, the days-to-cover ratio is presently 2.2 days. Currently, 2.6% of the company’s stock are sold short.

Insider Buying and Selling

In other Intrepid Potash news, major shareholder Robert P. Jornayvaz III sold 5,454 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $26.24, for a total value of $143,112.96. Following the completion of the sale, the insider now owns 371,533 shares in the company, valued at approximately $9,749,025.92. This trade represents a 1.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders sold 428,748 shares of company stock worth $10,870,406. 18.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intrepid Potash

Several institutional investors and hedge funds have recently bought and sold shares of the company. R Squared Ltd bought a new stake in shares of Intrepid Potash in the fourth quarter valued at $38,000. BNP Paribas Financial Markets bought a new stake in Intrepid Potash in the 4th quarter valued at about $87,000. Aquatic Capital Management LLC raised its stake in Intrepid Potash by 274.3% in the 4th quarter. Aquatic Capital Management LLC now owns 5,614 shares of the basic materials company’s stock valued at $123,000 after acquiring an additional 4,114 shares during the period. SG Americas Securities LLC bought a new position in Intrepid Potash during the third quarter worth about $142,000. Finally, Lazard Asset Management LLC bought a new position in Intrepid Potash during the fourth quarter worth about $153,000. 56.13% of the stock is owned by institutional investors.

Intrepid Potash Price Performance

Shares of Intrepid Potash stock traded up $0.56 on Monday, reaching $25.87. 169,219 shares of the company traded hands, compared to its average volume of 137,020. The company has a 50 day moving average of $24.72 and a 200 day moving average of $24.68. Intrepid Potash has a 52 week low of $18.32 and a 52 week high of $29.75. The firm has a market capitalization of $342.26 million, a PE ratio of -7.72 and a beta of 2.23.

Analysts Set New Price Targets

A number of analysts recently commented on the company. StockNews.com raised Intrepid Potash from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. UBS Group raised their target price on Intrepid Potash from $19.00 to $21.00 and gave the company a “sell” rating in a research report on Tuesday, January 28th.

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.