Short Interest in Intrepid Potash, Inc (NYSE:IPI) Drops By 15.1%

Intrepid Potash, Inc (NYSE:IPI) was the target of a significant decline in short interest in January. As of January 30th, there was short interest totaling 377,701 shares, a decline of 15.1% from the January 15th total of 444,913 shares. Approximately 2.9% of the shares of the stock are short sold. Based on an average daily volume of 259,509 shares, the days-to-cover ratio is presently 1.5 days. Based on an average daily volume of 259,509 shares, the days-to-cover ratio is presently 1.5 days. Approximately 2.9% of the shares of the stock are short sold.

Analysts Set New Price Targets

IPI has been the topic of several analyst reports. UBS Group increased their price target on shares of Intrepid Potash from $23.00 to $24.00 and gave the stock a “sell” rating in a research report on Monday, January 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Intrepid Potash in a research note on Thursday, January 22nd. Zacks Research lowered Intrepid Potash from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Finally, Wall Street Zen cut Intrepid Potash from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Sell” and an average target price of $24.00.

Institutional Investors Weigh In On Intrepid Potash

Institutional investors have recently added to or reduced their stakes in the business. Goehring & Rozencwajg Associates LLC increased its position in Intrepid Potash by 5.3% in the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 219,316 shares of the basic materials company’s stock valued at $6,082,000 after acquiring an additional 11,084 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Intrepid Potash in the fourth quarter valued at $44,000. Wells Fargo & Company MN raised its position in Intrepid Potash by 24.0% during the 4th quarter. Wells Fargo & Company MN now owns 15,607 shares of the basic materials company’s stock worth $433,000 after purchasing an additional 3,018 shares during the last quarter. Renaissance Technologies LLC raised its position in Intrepid Potash by 68.0% during the 4th quarter. Renaissance Technologies LLC now owns 167,092 shares of the basic materials company’s stock worth $4,633,000 after purchasing an additional 67,621 shares during the last quarter. Finally, EntryPoint Capital LLC lifted its holdings in Intrepid Potash by 55.7% during the 4th quarter. EntryPoint Capital LLC now owns 14,722 shares of the basic materials company’s stock worth $408,000 after buying an additional 5,265 shares during the period. 56.13% of the stock is owned by institutional investors.

Intrepid Potash Stock Up 3.5%

NYSE IPI opened at $33.20 on Monday. The company has a market cap of $445.82 million, a price-to-earnings ratio of -2.19 and a beta of 1.58. Intrepid Potash has a twelve month low of $20.86 and a twelve month high of $39.01. The business’s fifty day moving average is $30.50 and its 200 day moving average is $28.95.

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.