Intrepid Potash Inc (IPI) : Traders are negative on Intrepid Potash Inc (IPI), as it has 7% of short positions outstanding compared to its float. The total shorts have reduced by -209,886 shares, which is a -5.2% reduction. From Jul 29, 2016, to August 15, 2016, the shorts came down from,3,999,671 to 3,789,785 shares. While the daily trading volume of the stock is 816,566, there are 5 days remaining to cover the open short positions. The short interest indicates that the traders dont see a large downside in the stock from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
Intrepid Potash Inc (NYSE:IPI): The stock opened at $1.34 on Wednesday but the bulls could not build on the opening and the stock topped out at $1.36 for the day. The stock traded down to $1.30 during the day, due to lack of any buying support eventually closed down at $1.33 with a loss of -1.48% for the day. The stock had closed at $1.35 on the previous day. The total traded volume was 925,127 shares.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the CEO of Intrepid Potash, Inc., Jornayvaz Robert P Iii, had purchased 338,761 shares in a transaction dated on May 11, 2016. The transaction was executed at $1.29 per share with total amount equaling $437,002.
Intrepid Potash, Inc. is a producer of muriate of potash (potassium chloride or potash) and langbeinite (sulfate of potash magnesia) in the United States. The Company sells potash and Trio into the agricultural market as a fertilizer. The Company also sells produce salt, magnesium chloride and metal recovery salts from its potash mining processes. The Company owns three solution mining facilities and two conventional underground facilities that are utilized for producing potash. Its solution mining production comes from the HB solar solution mine near Carlsbad, New Mexico, a solar solution mine near Moab, Utah and a solar evaporation shallow brine mine in Wendover, Utah. The Companys conventional production comes from its underground West and East mines near Carlsbad, New Mexico, which services the West and HB mines.