Intrepid Potash, Inc (NYSE:IPI) Short Interest Update
by Kim Johansen · The Markets DailyIntrepid Potash, Inc (NYSE:IPI – Get Free Report) saw a significant drop in short interest in January. As of January 30th, there was short interest totaling 377,701 shares, a drop of 15.1% from the January 15th total of 444,913 shares. Approximately 2.9% of the company’s stock are short sold. Based on an average trading volume of 259,509 shares, the short-interest ratio is currently 1.5 days. Based on an average trading volume of 259,509 shares, the short-interest ratio is currently 1.5 days. Approximately 2.9% of the company’s stock are short sold.
Analyst Upgrades and Downgrades
Several research firms have issued reports on IPI. UBS Group lifted their price objective on Intrepid Potash from $23.00 to $24.00 and gave the stock a “sell” rating in a report on Monday, January 12th. Zacks Research downgraded shares of Intrepid Potash from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Intrepid Potash in a research note on Thursday, January 22nd. Finally, Wall Street Zen downgraded shares of Intrepid Potash from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Intrepid Potash currently has a consensus rating of “Sell” and an average target price of $24.00.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of IPI. Signaturefd LLC raised its stake in Intrepid Potash by 668.1% during the fourth quarter. Signaturefd LLC now owns 914 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 795 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Intrepid Potash by 197.8% during the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 544 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Intrepid Potash by 354.7% during the 3rd quarter. Federated Hermes Inc. now owns 1,355 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 1,057 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Intrepid Potash in the 4th quarter worth approximately $44,000. Finally, Tower Research Capital LLC TRC boosted its position in Intrepid Potash by 80.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,360 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 607 shares during the period. 56.13% of the stock is owned by institutional investors and hedge funds.
Intrepid Potash Price Performance
Shares of IPI stock traded down $0.11 on Tuesday, hitting $32.99. 116,583 shares of the stock traded hands, compared to its average volume of 199,201. The company’s fifty day moving average is $30.80 and its 200 day moving average is $28.96. Intrepid Potash has a 1-year low of $20.86 and a 1-year high of $39.01. The company has a market capitalization of $443.08 million, a PE ratio of -2.18 and a beta of 1.59.
Intrepid Potash Company Profile
Intrepid Potash, Inc is a leading U.S.-based producer and marketer of potash and related specialty fertilizer products. The company’s primary business centers on potassium chloride, a key nutrient used in agricultural applications to enhance crop yield and quality. In addition to potash, Intrepid Potash produces magnesium chloride and sodium chloride, which serve a variety of markets including de-icing, dust control and industrial chemical production.
Intrepid Potash operates through a combination of solution mining, solar evaporation and conventional underground mining techniques.