These transactions have reduced Jornayvaz's stake in the company, leaving him with 129,230 shares following the final sale on December 16. The sales were conducted indirectly through Intrepid Production Corporation, where Jornayvaz is the sole stockholder. For deeper insights into insider trading patterns and comprehensive analysis, check out the full research report available on InvestingPro. For deeper insights into insider trading patterns and comprehensive analysis, check out the full research report available on InvestingPro.
The largest sale took place on December 11, when Jornayvaz sold 192,573 shares at an average price of $25.08, totaling over $4.8 million. Another significant transaction occurred on November 21, with the sale of 159,513 shares at $25.12 per share, amounting to approximately $4 million. InvestingPro analysis indicates the stock is currently in oversold territory, with a strong free cash flow yield.
These transactions have reduced Jornayvaz's stake in the company, leaving him with 129,230 shares following the final sale on December 16. The sales were conducted indirectly through Intrepid Production Corporation, where Jornayvaz is the sole stockholder.
In other recent news, Intrepid Potash (NYSE:IPI) reported strong Q3 results, with a significant rise in adjusted EBITDA and successful completion of strategic projects. The company's adjusted EBITDA for Q3 2024 stood at $10 million, a $7.8 million improvement from Q3 2023, largely due to enhanced potash production. The company also completed Phase 2 of the HB injection pipeline, a development expected to boost future production rates.
Intrepid Potash's potash production reached 178,000 tons for the first nine months, with projections of 280,000 to 290,000 tons for the full year. The company also reported a 14% year-over-year drop in potash segment cost of goods sold per ton, contributing to margin improvement.
In other developments, Intrepid Potash is advancing talks on a long-term lithium project and started permitting for a test well at the AMAX cavern. The company is also in the process of selecting a new CEO following the departure of co-founder Bob Jornayvaz. These are just a few of the recent developments at Intrepid Potash.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.