Intrepid Potash, Inc. (NYSE:IPI) Short Interest Down 9.5% in March

Intrepid Potash, Inc. (NYSE:IPI - Get Free Report) was the target of a significant drop in short interest in March. As of March 31st, there was short interest totalling 444,200 shares, a drop of 9.5% from the March 15th total of 490,800 shares. Currently, 4.6% of the shares of the company are sold short. Based on an average daily trading volume, of 117,100 shares, the days-to-cover ratio is presently 3.8 days.

Intrepid Potash Stock Down 6.0 %

IPI traded down $1.22 during midday trading on Monday, reaching $19.19. 156,947 shares of the company's stock were exchanged, compared to its average volume of 117,359. Intrepid Potash has a one year low of $17.23 and a one year high of $28.30. The business has a 50-day simple moving average of $20.13 and a two-hundred day simple moving average of $20.64. The firm has a market capitalization of $254.46 million, a price-to-earnings ratio of -6.88 and a beta of 2.18.

Intrepid Potash (NYSE:IPI - Get Free Report) last posted its earnings results on Wednesday, March 6th. The basic materials company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.20). Intrepid Potash had a negative net margin of 12.78% and a negative return on equity of 0.43%. The firm had revenue of $49.04 million during the quarter, compared to the consensus estimate of $41.63 million. As a group, research analysts anticipate that Intrepid Potash will post -0.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Intrepid Potash to a "sell" rating in a research note on Wednesday, January 24th.

Insider Buying and Selling

In related news, CEO Robert P. Jornayvaz III sold 16,278 shares of Intrepid Potash stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $19.55, for a total transaction of $318,234.90. Following the sale, the chief executive officer now directly owns 1,490,436 shares of the company's stock, valued at $29,138,023.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Robert P. Jornayvaz III sold 16,278 shares of Intrepid Potash stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $19.55, for a total transaction of $318,234.90. Following the sale, the chief executive officer now directly owns 1,490,436 shares of the company's stock, valued at $29,138,023.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Robert P. Jornayvaz III sold 11,000 shares of Intrepid Potash stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $20.22, for a total value of $222,420.00. Following the sale, the chief executive officer now directly owns 1,531,551 shares in the company, valued at $30,967,961.22. The disclosure for this sale can be found here. Insiders have sold a total of 96,034 shares of company stock valued at $1,939,525 over the last three months. 18.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of IPI. Capital International Investors bought a new position in shares of Intrepid Potash in the first quarter valued at approximately $33,390,000. PointState Capital LP bought a new position in Intrepid Potash in the 1st quarter worth approximately $30,649,000. Azarias Capital Management L.P. raised its position in Intrepid Potash by 103.1% in the 3rd quarter. Azarias Capital Management L.P. now owns 432,875 shares of the basic materials company's stock worth $10,891,000 after purchasing an additional 219,713 shares during the last quarter. Millennium Management LLC bought a new position in Intrepid Potash in the 2nd quarter worth approximately $9,020,000. Finally, Invesco Ltd. raised its position in Intrepid Potash by 878.0% in the 1st quarter. Invesco Ltd. now owns 151,361 shares of the basic materials company's stock worth $12,433,000 after purchasing an additional 135,885 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.