Intrepid Potash (IPI) Trading 6% Higher
Intrepid Potash, Inc. (NYSE:IPI) traded up 6% during mid-day trading on Thursday . The stock traded as high as $4.44 and last traded at $4.43. 1,463,033 shares traded hands during trading, an increase of 6% from the average session volume of 1,380,854 shares. The stock had previously closed at $4.18.
Several equities research analysts have issued reports on the company. Cowen reissued a “sell” rating and set a $3.50 target price on shares of Intrepid Potash in a research note on Friday, December 1st. Stephens assumed coverage on Intrepid Potash in a research note on Monday, December 4th. They set an “equal weight” rating and a $4.00 target price for the company. Finally, BMO Capital Markets raised their target price on Intrepid Potash from $3.00 to $4.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $3.55.
The stock has a market cap of $558.39, a PE ratio of -9.84 and a beta of 1.12. The company has a quick ratio of 1.17, a current ratio of 4.71 and a debt-to-equity ratio of 0.15.
In other news, insider Robert P. Jornayvaz III purchased 10,000 shares of the stock in a transaction dated Tuesday, December 19th. The stock was acquired at an average cost of $3.85 per share, for a total transaction of $38,500.00. Following the completion of the transaction, the insider now directly owns 1,206,650 shares in the company, valued at approximately $4,645,602.50. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP James N. Whyte sold 86,796 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 360,903 shares of the company’s stock, valued at $1,385,867.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 25,100 shares of company stock valued at $93,003. Company insiders own 27.30% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. LMR Partners LLP purchased a new position in Intrepid Potash in the third quarter valued at $155,000. Saratoga Research & Investment Management purchased a new position in Intrepid Potash in the third quarter valued at $157,000. Thompson Davis & CO. Inc. purchased a new position in Intrepid Potash in the third quarter valued at $184,000. State Board of Administration of Florida Retirement System boosted its holdings in Intrepid Potash by 226.5% in the third quarter. State Board of Administration of Florida Retirement System now owns 42,683 shares of the basic materials company’s stock valued at $186,000 after purchasing an additional 29,610 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in Intrepid Potash by 12.3% in the second quarter. Wells Fargo & Company MN now owns 57,809 shares of the basic materials company’s stock valued at $131,000 after purchasing an additional 6,336 shares during the period. Institutional investors and hedge funds own 47.88% of the company’s stock.
TRADEMARK VIOLATION WARNING: This piece was first published by TheOlympiaReport and is the property of of TheOlympiaReport. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international trademark and copyright legislation. The legal version of this piece can be accessed at https://theolympiareport.com/2018/01/12/intrepid-potash-ipi-trading-6-higher.html.
Intrepid Potash Company Profile
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.
Receive News & Ratings for Intrepid Potash Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intrepid Potash and related companies with MarketBeat.com's FREE daily email newsletter.