Intrepid Potash, Inc. (NYSE:IPI) Shares Purchased by MYDA Advisors LLC

MYDA Advisors LLC raised its stake in shares of Intrepid Potash, Inc. (NYSE:IPI) by 66.7% during the first quarter, Holdings Channel.com reports. The institutional investor owned 30,000 shares of the basic materials company’s stock after buying an additional 12,000 shares during the period. MYDA Advisors LLC’s holdings in Intrepid Potash were worth $977,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in IPI. Royce & Associates LP grew its holdings in Intrepid Potash by 166.7% during the 4th quarter. Royce & Associates LP now owns 596,175 shares of the basic materials company’s stock valued at $14,398,000 after buying an additional 372,667 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Intrepid Potash by 14.7% during the 4th quarter. Rhumbline Advisers now owns 16,528 shares of the basic materials company’s stock worth $399,000 after purchasing an additional 2,114 shares during the period. Citigroup Inc. raised its position in shares of Intrepid Potash by 316.0% in the 4th quarter. Citigroup Inc. now owns 1,922 shares of the basic materials company’s stock worth $46,000 after buying an additional 1,460 shares during the period. Trexquant Investment LP purchased a new position in shares of Intrepid Potash in the 4th quarter worth $292,000. Finally, Quinn Opportunity Partners LLC purchased a new position in shares of Intrepid Potash in the 4th quarter worth $768,000. Hedge funds and other institutional investors own 37.20% of the company’s stock.

Shares of Intrepid Potash stock traded up $0.36 during trading hours on Friday, hitting $28.15. 504 shares of the company’s stock traded hands, compared to its average volume of 202,048. The stock has a 50 day moving average of $29.44. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.99 and a current ratio of 1.99. The stock has a market cap of $378.50 million, a P/E ratio of -20.59 and a beta of 2.13. Intrepid Potash, Inc. has a twelve month low of $7.60 and a twelve month high of $39.19.

Intrepid Potash (NYSE:IPI) last announced its earnings results on Sunday, May 2nd. The basic materials company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.05. The company had revenue of $59.39 million during the quarter, compared to the consensus estimate of $57.80 million. Intrepid Potash had a negative return on equity of 4.12% and a negative net margin of 8.47%. During the same period last year, the firm earned ($0.20) earnings per share. As a group, sell-side analysts anticipate that Intrepid Potash, Inc. will post 0.85 EPS for the current fiscal year.

Several research analysts recently weighed in on IPI shares. TheStreet raised Intrepid Potash from a “d+” rating to a “c-” rating in a research report on Friday, March 5th. BMO Capital Markets increased their price target on Intrepid Potash from $15.00 to $30.00 and gave the company a “market perform” rating in a report on Wednesday, March 3rd. Zacks Investment Research downgraded Intrepid Potash from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Roth Capital increased their price target on Intrepid Potash from $11.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, March 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $25.90.

Intrepid Potash Company Profile

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.

Read More: Why do analysts give a neutral rating?

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Institutional Ownership by Quarter for Intrepid Potash (NYSE:IPI)

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