Short Interest in Intrepid Potash, Inc. (NYSE:IPI) Increases By 6.3%

Intrepid Potash, Inc. (NYSE:IPI) saw a significant increase in short interest in September. As of September 30th, there was short interest totalling 327,100 shares, an increase of 6.3% from the September 15th total of 307,600 shares. Based on an average daily volume of 62,500 shares, the days-to-cover ratio is presently 5.2 days. Approximately 3.3% of the company’s shares are short sold.

Intrepid Potash Price Performance

NYSE IPI traded up $0.82 during midday trading on Wednesday, hitting $24.40. 47,051 shares of the company traded hands, compared to its average volume of 90,927. The company has a market cap of $323.76 million, a PE ratio of -7.22 and a beta of 2.18. The company’s 50-day simple moving average is $23.44 and its 200-day simple moving average is $23.47. Intrepid Potash has a 52 week low of $17.52 and a 52 week high of $28.00.

Intrepid Potash (NYSE:IPI) last announced its earnings results on Monday, August 5th. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.08). The company had revenue of $62.06 million for the quarter, compared to the consensus estimate of $50.88 million. Intrepid Potash had a negative net margin of 19.19% and a negative return on equity of 2.02%. During the same period last year, the business posted $0.33 EPS. On average, research analysts predict that Intrepid Potash will post 0.27 earnings per share for the current year.

Institutional Trading of Intrepid Potash

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in shares of Intrepid Potash during the 3rd quarter valued at $142,000. Marquette Asset Management LLC purchased a new stake in shares of Intrepid Potash during the 1st quarter valued at $144,000. Squarepoint Ops LLC purchased a new stake in shares of Intrepid Potash during the 2nd quarter valued at $303,000. Rhumbline Advisers lifted its holdings in shares of Intrepid Potash by 5.0% during the 2nd quarter. Rhumbline Advisers now owns 17,997 shares of the basic materials company’s stock valued at $422,000 after purchasing an additional 861 shares during the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of Intrepid Potash by 7.7% during the 1st quarter. Empowered Funds LLC now owns 31,732 shares of the basic materials company’s stock valued at $662,000 after purchasing an additional 2,275 shares during 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.