Intrepid Potash (NYSE:IPI) shares were up 5.1% during trading on Monday . The stock traded as high as $4.33 and last traded at $4.33. Approximately 3,153,657 shares traded hands during mid-day trading, an increase of 175% from the average daily volume of 1,148,467 shares. The stock had previously closed at $4.12.
Several research analysts have recently commented on IPI shares. Cowen raised Intrepid Potash from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $3.56 to $3.75 in a research note on Monday, March 5th. ValuEngine downgraded Intrepid Potash from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st. Zacks Investment Research downgraded Intrepid Potash from a “hold” rating to a “sell” rating in a research note on Wednesday, February 28th. Finally, Stephens raised Intrepid Potash from an “equal weight” rating to an “overweight” rating and set a $5.00 price objective on the stock in a research note on Wednesday, May 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Intrepid Potash currently has an average rating of “Hold” and an average target price of $3.95.
The company has a quick ratio of 1.17, a current ratio of 3.28 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $537.71 million, a P/E ratio of -24.06 and a beta of 0.84.
Intrepid Potash (NYSE:IPI) last posted its quarterly earnings data on Tuesday, April 24th. The basic materials company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). Intrepid Potash had a negative return on equity of 1.82% and a negative net margin of 4.60%. The company had revenue of $38.57 million during the quarter, compared to the consensus estimate of $35.48 million. During the same period last year, the business earned ($0.17) EPS. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. equities analysts predict that Intrepid Potash will post 0.13 earnings per share for the current fiscal year.
In other Intrepid Potash news, major shareholder Clearway Capital Management Lt bought 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was purchased at an average price of $3.48 per share, for a total transaction of $348,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Financial Holdings Ltd Fairfax sold 4,155,064 shares of the stock in a transaction dated Tuesday, May 8th. The stock was sold at an average price of $3.97, for a total value of $16,495,604.08. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 365,900 shares of company stock valued at $1,380,470 and have sold 7,305,338 shares valued at $30,514,323. Company insiders own 27.70% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Royce & Associates LP grew its position in shares of Intrepid Potash by 31.4% during the fourth quarter. Royce & Associates LP now owns 761,955 shares of the basic materials company’s stock worth $3,627,000 after purchasing an additional 182,000 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Intrepid Potash by 17.0% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 186,797 shares of the basic materials company’s stock valued at $890,000 after buying an additional 27,197 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Intrepid Potash by 82.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,181,060 shares of the basic materials company’s stock valued at $13,870,000 after buying an additional 1,435,178 shares in the last quarter. Stuart Chaussee & Associates Inc. purchased a new position in Intrepid Potash during the 4th quarter valued at approximately $205,000. Finally, James Investment Research Inc. purchased a new position in Intrepid Potash during the 4th quarter valued at approximately $988,000. Hedge funds and other institutional investors own 47.36% of the company’s stock.
Intrepid Potash Company Profile
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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