Intrepid Potash, Inc. (NYSE:IPI) CEO Robert P. Jornayvaz III acquired 10,800 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The stock was bought at an average price of $3.30 per share, with a total value of $35,640.00. Following the acquisition, the chief executive officer now directly owns 1,206,650 shares of the company’s stock, valued at approximately $3,981,945. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.
NYSE IPI traded up $0.04 on Thursday, reaching $3.39. The company had a trading volume of 10,221 shares, compared to its average volume of 723,200. The company has a market capitalization of $445.76 million, a PE ratio of -19.08 and a beta of 1.10. The company has a current ratio of 3.47, a quick ratio of 1.53 and a debt-to-equity ratio of 0.12. Intrepid Potash, Inc. has a 52 week low of $3.12 and a 52 week high of $5.31.
Intrepid Potash (NYSE:IPI) last announced its quarterly earnings results on Thursday, August 2nd. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.05). Intrepid Potash had a negative return on equity of 1.15% and a negative net margin of 1.47%. The business had revenue of $54.00 million during the quarter, compared to the consensus estimate of $43.08 million. During the same quarter last year, the company earned ($0.05) earnings per share. The firm’s revenue was up 20.0% compared to the same quarter last year. sell-side analysts predict that Intrepid Potash, Inc. will post 0.13 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in the business. Millennium Management LLC bought a new stake in shares of Intrepid Potash in the second quarter worth about $6,819,000. Metropolitan Life Insurance Co. NY increased its holdings in shares of Intrepid Potash by 152.2% in the second quarter. Metropolitan Life Insurance Co. NY now owns 33,008 shares of the basic materials company’s stock worth $135,000 after acquiring an additional 19,919 shares in the last quarter. Macquarie Group Ltd. bought a new stake in shares of Intrepid Potash in the second quarter worth about $108,000. Bank of America Corp DE increased its holdings in shares of Intrepid Potash by 96.9% in the second quarter. Bank of America Corp DE now owns 41,056 shares of the basic materials company’s stock worth $167,000 after acquiring an additional 20,204 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Intrepid Potash in the second quarter worth about $362,000. Institutional investors own 45.71% of the company’s stock.
A number of equities research analysts recently commented on IPI shares. Stephens upgraded Intrepid Potash from an “equal weight” rating to an “overweight” rating and set a $5.00 price objective for the company in a report on Wednesday, May 9th. Zacks Investment Research downgraded Intrepid Potash from a “buy” rating to a “hold” rating in a report on Saturday, May 12th. ValuEngine upgraded Intrepid Potash from a “sell” rating to a “hold” rating in a report on Thursday, May 17th. Finally, BMO Capital Markets dropped their price objective on Intrepid Potash from $4.00 to $3.25 and set a “market perform” rating for the company in a report on Monday, August 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $4.13.
About Intrepid Potash
Intrepid Potash, Inc produces and sells potash and langbeinite products in the United States and internationally. It operates through two segments, Potash and Trio. 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.
Further Reading: How to Invest in Marijuana Stocks
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.