Short Interest in Intrepid Potash, Inc. (NYSE:IPI) Decreases By 8.1%

Intrepid Potash, Inc. (NYSE:IPI) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 305,000 shares, a decrease of 8.1% from the August 15th total of 331,800 shares. Approximately 3.1% of the shares of the company are short sold. Based on an average daily volume of 68,600 shares, the short-interest ratio is currently 4.4 days.

Intrepid Potash Trading Down 3.3 %

IPI stock traded down $0.83 during trading on Wednesday, reaching $24.45. 76,335 shares of the stock were exchanged, compared to its average volume of 95,743. Intrepid Potash has a twelve month low of $17.52 and a twelve month high of $28.00. The company has a market capitalization of $324.43 million, a P/E ratio of -7.49 and a beta of 2.19. The stock has a 50 day simple moving average of $23.86 and a 200-day simple moving average of $22.92.

Intrepid Potash (NYSE:IPI) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $50.88 million. Intrepid Potash had a negative return on equity of 2.02% and a negative net margin of 19.19%. During the same period in the previous year, the business posted $0.33 EPS. Equities analysts predict that Intrepid Potash will post 0.15 EPS for the current year.

Institutional Investors Weigh In On Intrepid Potash

Institutional investors and hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC boosted its position in shares of Intrepid Potash by 517.6% during the 1st quarter. Acadian Asset Management LLC now owns 58,126 shares of the basic materials company’s stock valued at $1,211,000 after acquiring an additional 48,715 shares in the last quarter. Azarias Capital Management L.P. boosted its holdings 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 in the last quarter. First Eagle Investment Management LLC grew its stake in shares of Intrepid Potash by 19.4% in the 1st quarter. First Eagle Investment Management LLC now owns 481,670 shares of the basic materials company’s stock valued at $10,048,000 after purchasing an additional 78,200 shares during the period. CastleKnight Management LP grew its stake in shares of Intrepid Potash by 336.2% in the 4th quarter. CastleKnight Management LP now owns 98,600 shares of the basic materials company’s stock valued at $2,356,000 after purchasing an additional 75,998 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Intrepid Potash by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 553,185 shares of the basic materials company’s stock worth $11,539,000 after buying an additional 14,133 shares in the last quarter. Institutional investors own 56.13% of the company’s stock.

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.