Intrepid Potash, Inc (NYSE:IPI)’s share price was down 1.8% during trading on Tuesday following insider selling activity. The stock traded as low as $3.67 and last traded at $3.95. Approximately 575,300 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 1,645,860 shares. The stock had previously closed at $3.88.
Specifically, EVP James N. Whyte sold 86,796 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $3.84, for a total value of $333,296.64. Following the sale, the executive vice president now directly owns 360,903 shares in the company, valued at approximately $1,385,867.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Clearway Capital Management Lt acquired 17,100 shares of the stock in a transaction dated Friday, August 18th. The stock was bought at an average price of $3.20 per share, for a total transaction of $54,720.00. The disclosure for this purchase can be found here. Corporate insiders own 27.30% of the company’s stock.
Several equities research analysts have recently weighed in on IPI shares. BMO Capital Markets upped their price objective on Intrepid Potash from $3.00 to $4.00 and gave the company a “market perform” rating in a research note on Tuesday, October 31st. Zacks Investment Research lowered Intrepid Potash from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 26th. UBS AG lowered Intrepid Potash from a “neutral” rating to a “sell” rating and upped their price objective for the company from $2.00 to $2.50 in a research note on Monday, August 7th. Finally, BidaskClub upgraded Intrepid Potash from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 2nd.
The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.17 and a current ratio of 4.71.
Intrepid Potash (NYSE:IPI) last released its quarterly earnings results on Monday, October 30th. The basic materials company reported ($0.02) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.02. The business had revenue of $32.06 million for the quarter, compared to analyst estimates of $33.15 million. Intrepid Potash had a negative return on equity of 8.09% and a negative net margin of 22.88%. Intrepid Potash’s revenue for the quarter was down 26.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.22) EPS. analysts predict that Intrepid Potash, Inc will post -0.18 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IPI. Radnor Capital Management LLC grew its position in Intrepid Potash by 87.1% during the 2nd quarter. Radnor Capital Management LLC now owns 46,400 shares of the basic materials company’s stock worth $105,000 after acquiring an additional 21,600 shares during the last quarter. Wells Fargo & Company MN grew its position in Intrepid Potash by 12.3% during the 2nd quarter. Wells Fargo & Company MN now owns 57,809 shares of the basic materials company’s stock worth $131,000 after acquiring an additional 6,336 shares during the last quarter. New York State Common Retirement Fund bought a new stake in Intrepid Potash during the 2nd quarter worth approximately $132,000. LMR Partners LLP bought a new stake in Intrepid Potash during the 3rd quarter worth approximately $155,000. Finally, Saratoga Research & Investment Management bought a new stake in Intrepid Potash during the 3rd quarter worth approximately $157,000. Institutional investors and hedge funds own 46.62% of the company’s stock.
About Intrepid Potash
Intrepid Potash, Inc is a producer of muriate of potash (potassium chloride or potash) and langbeinite (sulfate of potash magnesia) in the United States, which it markets and sells as Trio. The Company operates in the extraction, production and sale of potassium-related products. Its products are potash and Trio.
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