Intrepid Potash (IPI) Trading Up 2.6%
Intrepid Potash, Inc. (NYSE:IPI) shares were up 2.6% on Thursday . The company traded as high as $3.14 and last traded at $3.21. Approximately 7,980 shares were traded during trading, a decline of 99% from the average daily volume of 617,533 shares. The stock had previously closed at $3.13.
IPI has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Intrepid Potash from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. BMO Capital Markets increased their price target on shares of Intrepid Potash from $3.25 to $4.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 31st. TheStreet upgraded shares of Intrepid Potash from a “d+” rating to a “c-” rating in a research report on Monday, November 12th. Finally, Stephens set a $7.00 price target on shares of Intrepid Potash and gave the stock a “buy” rating in a research report on Tuesday, October 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $4.81.
The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.47 and a current ratio of 3.23. The stock has a market capitalization of $410.36 million, a price-to-earnings ratio of -17.56 and a beta of 0.92.
In related news, EVP James N. Whyte sold 88,088 shares of the firm’s stock in a transaction on Friday, November 9th. The shares were sold at an average price of $4.27, for a total transaction of $376,135.76. Following the completion of the transaction, the executive vice president now directly owns 298,838 shares of the company’s stock, valued at $1,276,038.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Clearway Capital Management Lt bought 50,000 shares of the business’s stock in a transaction that occurred on Thursday, December 13th. The shares were bought at an average cost of $3.00 per share, with a total value of $150,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders bought 1,176,404 shares of company stock valued at $4,098,109. Corporate insiders own 27.70% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of IPI. Millennium Management LLC purchased a new position in Intrepid Potash during the second quarter valued at $6,819,000. Renaissance Technologies LLC purchased a new position in Intrepid Potash during the second quarter valued at $4,298,000. Dimensional Fund Advisors LP grew its stake in Intrepid Potash by 20.0% during the second quarter. Dimensional Fund Advisors LP now owns 5,977,548 shares of the basic materials company’s stock valued at $24,508,000 after acquiring an additional 997,116 shares in the last quarter. Prescott Group Capital Management L.L.C. purchased a new position in Intrepid Potash during the third quarter valued at $2,331,000. Finally, BlackRock Inc. grew its stake in Intrepid Potash by 8.1% during the third quarter. BlackRock Inc. now owns 7,429,721 shares of the basic materials company’s stock valued at $26,673,000 after acquiring an additional 557,507 shares in the last quarter. 43.50% of the stock is owned by institutional investors.
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Intrepid Potash Company Profile (NYSE:IPI)
Intrepid Potash, Inc produces and sells potash and langbeinite products in the United States and internationally. It operates through two segments, Potash and Trio. The Potash segment offers muriate of potash or potassium chloride for use as a fertilizer input in the agricultural market; as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes in the industrial market; and as a nutrient supplement in the animal feed market.
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