Short Interest in Intrepid Potash, Inc. (NYSE:IPI) Decreases By 6.7%

Intrepid Potash, Inc. (NYSE:IPI) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 434,700 shares, a drop of 6.7% from the October 15th total of 466,100 shares. Based on an average daily trading volume, of 102,400 shares, the days-to-cover ratio is presently 4.2 days. Currently, 4.6% of the company’s stock are short sold.

Analyst Ratings Changes

Several research firms recently weighed in on IPI. BMO Capital Markets decreased their target price on Intrepid Potash from $25.00 to $21.00 and set a “market perform” rating for the company in a research note on Friday, November 10th. StockNews.com began coverage on Intrepid Potash in a research note on Thursday, October 5th. They set a “sell” rating for the company.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. American International Group Inc. increased its holdings in shares of Intrepid Potash by 5.4% in the second quarter. American International Group Inc. now owns 5,212 shares of the basic materials company’s stock valued at $236,000 after purchasing an additional 268 shares during the period. Tower Research Capital LLC TRC grew its holdings in Intrepid Potash by 19.3% during the third quarter. Tower Research Capital LLC TRC now owns 1,870 shares of the basic materials company’s stock worth $74,000 after acquiring an additional 303 shares during the period. Panagora Asset Management Inc. grew its holdings in Intrepid Potash by 0.9% during the fourth quarter. Panagora Asset Management Inc. now owns 37,727 shares of the basic materials company’s stock worth $1,089,000 after acquiring an additional 335 shares during the period. Credit Suisse AG grew its holdings in Intrepid Potash by 2.1% during the fourth quarter. Credit Suisse AG now owns 17,141 shares of the basic materials company’s stock worth $495,000 after acquiring an additional 354 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Intrepid Potash by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 28,813 shares of the basic materials company’s stock worth $832,000 after acquiring an additional 358 shares during the period. Institutional investors and hedge funds own 49.12% of the company’s stock.

Intrepid Potash Stock Down 0.4 %

IPI opened at $19.53 on Friday. The firm has a market cap of $257.01 million, a price-to-earnings ratio of 46.50 and a beta of 2.27. Intrepid Potash has a 52 week low of $17.23 and a 52 week high of $37.19. The business’s 50 day moving average is $22.07 and its two-hundred day moving average is $22.95.

Intrepid Potash (NYSE:IPI) last released its quarterly earnings results on Wednesday, November 8th. The basic materials company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.51). The firm had revenue of $46.56 million for the quarter, compared to analyst estimates of $56.20 million. Intrepid Potash had a return on equity of 1.83% and a net margin of 1.94%. Equities analysts expect that Intrepid Potash will post 0.28 EPS for the current fiscal year.

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.