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.

Intrepid Potash (NYSE:IPI) last released its earnings results on Tuesday, August 6th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.01. Intrepid Potash had a net margin of 10.78% and a return on equity of 5.52%. The business had revenue of $62.51 million for the quarter, compared to analysts’ expectations of $55.68 million. During the same period last year, the company earned ($0.01) earnings per share. The company’s quarterly revenue was up 13.3% on a year-over-year basis. On average, equities analysts expect that Intrepid Potash, Inc. will post 0.21 earnings per share for the current fiscal year.

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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