Intrepid Potash, Inc. (NYSE:IPI) short interest fell 8.1% in August

Intrepid Potash, Inc. (NYSE:IPI – Get Your Free Report ) saw a significant drop in short interest in August. As of August 31st, there was short interest totaling 305,000 shares, a decrease 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 rate is currently 4.4 days. Currently, 3.1% of the stock’s shares 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 approximately $144,000. Aristides Capital LLC bought a new position in Intrepid Potash in the 4th quarter valued at about $245,000. Squarepoint Ops LLC purchased a new position in Intrepid Potash in the second quarter valued at $303,000. Principal Financial Group Inc. raised 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 during the last quarter. Finally, Rhumbline Advisers boosted its stake in Intrepid Potash by 5.0% in the second 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 shares are currently owned by institutional investors.

Intrepid potash price performance

Shares of IPI stock traded down $0.83 during trading hours on Wednesday, reaching $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 cap 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 – Get Your Free Report ) last posted 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. In the same period last year, the company posted earnings of $0.33 per share. equities analysts predict that Intrepid Potash will post 0.15 EPS for the current fiscal year.

Intrepid Potash Company Profile

(Get a free report)

Intrepid Potash, Inc, together with its subsidiaries, engages in the mining and production of potash in the United States and internationally. It operates through three segments: Potash, Trio and Oilfield Solutions. The company offers potassium muriate for various markets such as the agricultural market as a fertilizer input; the industrial market as a component of drilling and fracturing fluids for oil and gas wells, and as an input to other industrial processes; and the animal feed market as a nutritional supplement.

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