Intrepid Potash, Inc. (NYSE:IPI) Short Interest Down 9.4% in January

Intrepid Potash, Inc. (NYSE:IPI) was the recipient of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 269,000 shares, a drop 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 shares are sold short.

Intrepid Potash Price Performance

Shares of IPI opened at $26.65 on Wednesday. Intrepid Potash has a one year low of $18.32 and a one year high of $29.75. The company has a 50-day simple moving average of $24.73 and a two-hundred day simple moving average of $24.69. The firm has a market capitalization of $352.51 million, a PE ratio of -7.95 and a beta of 2.23.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IPI. StockNews.com upgraded shares of Intrepid Potash from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. UBS Group increased their target price on shares of Intrepid Potash from $19.00 to $21.00 and gave the stock a “sell” rating in a report on Tuesday, January 28th.

Insider Activity

In other 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 transaction of $143,112.96. Following the completion of the sale, the insider now directly owns 371,533 shares in the company, valued at approximately $9,749,025.92. This represents a 1.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 486,189 shares of company stock valued at $12,354,682. 18.00% of the stock is currently owned by insiders.

Institutional Trading of Intrepid Potash

Several institutional investors and hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. increased its stake in shares of Intrepid Potash by 0.3% during the fourth quarter. American Century Companies Inc. now owns 185,844 shares of the basic materials company’s stock valued at $4,074,000 after purchasing an additional 577 shares in the last quarter. Glenorchy Capital Ltd boosted its stake in shares of Intrepid Potash by 1.1% during the 4th quarter. Glenorchy Capital Ltd now owns 62,928 shares of the basic materials company’s stock worth $1,379,000 after acquiring an additional 714 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Intrepid Potash by 14.0% during the 4th quarter. SG Americas Securities LLC now owns 6,743 shares of the basic materials company’s stock worth $148,000 after acquiring an additional 830 shares during the last quarter. Goehring & Rozencwajg Associates LLC boosted its stake in shares of Intrepid Potash by 0.6% during the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 209,362 shares of the basic materials company’s stock worth $4,803,000 after acquiring an additional 1,272 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Intrepid Potash by 0.6% during the 3rd quarter. State Street Corp now owns 227,169 shares of the basic materials company’s stock valued at $5,452,000 after buying an additional 1,402 shares in the last quarter. 56.13% of the stock is currently owned by hedge funds and other institutional investors.

Intrepid Potash Company Profile

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.