Intrepid Potash, Inc. (NYSE:IPI) Short Interest Down 8.1% in August

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

Institutional Investors Weigh In On Intrepid Potash

Large investors have recently bought and sold shares of the business. Marquette Asset Management LLC bought a new position in shares of Intrepid Potash in the first quarter worth about $144,000. Aristides Capital LLC bought a new position in Intrepid Potash in the 4th quarter worth approximately $245,000. Squarepoint Ops LLC acquired a new position in Intrepid Potash during the 2nd quarter worth $303,000. Principal Financial Group Inc. lifted its holdings in Intrepid Potash by 28.3% during the 4th quarter. Principal Financial Group Inc. now owns 12,995 shares of the basic materials company’s stock worth $310,000 after buying an additional 2,864 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Intrepid Potash by 5.0% in the 2nd quarter. Rhumbline Advisers now owns 17,997 shares of the basic materials company’s stock valued at $422,000 after buying an additional 861 shares during the period. 56.13% of the stock is currently owned by institutional investors.

Intrepid Potash Price Performance

Shares of IPI traded down $0.83 during trading hours on Wednesday, hitting $24.45. The stock had a trading volume of 76,335 shares, compared to its average volume of 95,743. The stock has a market capitalization of $324.43 million, a price-to-earnings ratio of -7.49 and a beta of 2.19. The company’s fifty day moving average is $23.86 and its two-hundred day moving average is $22.92. Intrepid Potash has a 52 week low of $17.52 and a 52 week high of $28.00.

Intrepid Potash (NYSE:IPI) last issued 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). Intrepid Potash had a negative return on equity of 2.02% and a negative net margin of 19.19%. The firm had revenue of $62.06 million for the quarter, compared to the consensus estimate of $50.88 million. During the same period in the prior year, the company posted $0.33 earnings per share. Equities analysts predict that Intrepid Potash will post 0.15 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.