Intrepid Potash (NYSE:IPI) Trading Up 5%
Intrepid Potash, Inc. (NYSE:IPI)’s stock price shot up 5% during mid-day trading on Monday . The stock traded as high as $3.36 and last traded at $3.35, 495,896 shares were traded during trading. An increase of 3% from the average session volume of 482,618 shares. The stock had previously closed at $3.19.
Several research firms recently commented on IPI. Zacks Investment Research upgraded shares of Intrepid Potash from a “hold” rating to a “buy” rating and set a $3.75 price objective on the stock in a research report on Friday, August 9th. ValuEngine downgraded Intrepid Potash from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. Intrepid Potash currently has an average rating of “Hold” and a consensus target price of $4.92.
The stock’s 50 day moving average price is $3.25 and its 200 day moving average price is $3.47. The company has a current ratio of 1.62, a quick ratio of 0.57 and a debt-to-equity ratio of 0.08. The company has a market cap of $442.09 million, a price-to-earnings ratio of 39.56 and a beta of 1.23.
In other news, major shareholder Clearway Capital Management Lt bought 50,000 shares of Intrepid Potash stock in a transaction that occurred on Thursday, August 22nd. The shares were purchased at an average price of $3.02 per share, for a total transaction of $151,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert P. Jornayvaz III purchased 10,000 shares of the stock in a transaction on Monday, August 26th. The shares were purchased at an average cost of $2.90 per share, with a total value of $29,000.00. Following the transaction, the chief executive officer now owns 2,099,144 shares of the company’s stock, valued at approximately $6,087,517.60. The disclosure for this purchase can be found here. Insiders have bought a total of 121,896 shares of company stock valued at $364,099 over the last three months. Corporate insiders own 27.80% of the company’s stock.
Large investors have recently made changes to their positions in the business. ETF Managers Group LLC raised its holdings in Intrepid Potash by 9.8% in the first quarter. ETF Managers Group LLC now owns 39,325 shares of the basic materials company’s stock valued at $149,000 after buying an additional 3,498 shares during the period. Aperio Group LLC increased its stake in shares of Intrepid Potash by 25.4% in the second quarter. Aperio Group LLC now owns 29,856 shares of the basic materials company’s stock worth $100,000 after buying an additional 6,045 shares during the last quarter. Bank of Montreal Can raised its holdings in Intrepid Potash by 49,843.8% in the second quarter. Bank of Montreal Can now owns 7,991 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 7,975 shares in the last quarter. Schneider Capital Management Corp raised its holdings in Intrepid Potash by 9.6% in the first quarter. Schneider Capital Management Corp now owns 122,105 shares of the basic materials company’s stock valued at $463,000 after acquiring an additional 10,725 shares in the last quarter. Finally, THB Asset Management boosted its stake in Intrepid Potash by 8.3% during the 2nd quarter. THB Asset Management now owns 152,627 shares of the basic materials company’s stock valued at $512,000 after acquiring an additional 11,760 shares during the last quarter. Institutional investors own 42.66% of the company’s stock.
About Intrepid Potash (NYSE:IPI)
Intrepid Potash, Inc produces and sells potash and langbeinite products in the United States and internationally. It operates through three segments: Potash, Trio, and Oilfield Solutions. 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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