Intrepid Potash, Inc. (NYSE:IPI) major shareholder Clearway Capital Management Lt bought 211,344 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was purchased at an average price of $3.30 per share, for a total transaction of $697,435.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Intrepid Potash, Inc. (IPI) opened at $3.36 on Monday. Intrepid Potash, Inc. has a fifty-two week low of $1.24 and a fifty-two week high of $5.12. The firm has a market cap of $439.39, a PE ratio of -7.47 and a beta of 0.85. The company has a current ratio of 4.71, a quick ratio of 1.17 and a debt-to-equity ratio of 0.15.
Several research firms recently issued reports on IPI. Stephens started coverage on shares of Intrepid Potash in a report on Monday, December 4th. They issued an “equal weight” rating and a $4.00 target price on the stock. Cowen reiterated a “sell” rating and set a $3.50 price objective on shares of Intrepid Potash in a report on Friday, December 1st. Zacks Investment Research lowered shares of Intrepid Potash from a “buy” rating to a “hold” rating in a report on Tuesday, February 6th. Finally, BMO Capital Markets upped their price objective on shares of Intrepid Potash from $3.00 to $4.00 and gave the company a “market perform” rating in a report on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $3.55.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning acquired a new position in shares of Intrepid Potash during the fourth quarter valued at about $101,000. Wells Fargo & Company MN raised its holdings in shares of Intrepid Potash by 12.3% during 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. New York State Common Retirement Fund acquired a new position in shares of Intrepid Potash during the second quarter valued at about $132,000. LMR Partners LLP acquired a new position in shares of Intrepid Potash during the third quarter valued at about $155,000. Finally, Saratoga Research & Investment Management acquired a new position in shares of Intrepid Potash during the third quarter valued at about $157,000. Hedge funds and other institutional investors own 47.92% of the company’s stock.
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About Intrepid Potash
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.
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