Ampco-Pittsburgh Corporation (NYSE:AP) Sees Large Increase in Short Interest
by Mitch Edgeman · The Markets DailyAmpco-Pittsburgh Corporation (NYSE:AP – Get Free Report) was the recipient of a significant increase in short interest in the month of February. As of February 27th, there was short interest totaling 412,932 shares, an increase of 154.8% from the February 12th total of 162,044 shares. Currently, 3.0% of the shares of the stock are sold short. Based on an average trading volume of 324,465 shares, the short-interest ratio is presently 1.3 days. Based on an average trading volume of 324,465 shares, the short-interest ratio is presently 1.3 days. Currently, 3.0% of the shares of the stock are sold short.
Ampco-Pittsburgh Trading Down 5.9%
Shares of Ampco-Pittsburgh stock traded down $0.52 on Friday, reaching $8.27. 206,398 shares of the company were exchanged, compared to its average volume of 270,527. The stock has a fifty day moving average price of $7.24 and a 200-day moving average price of $4.34. The firm has a market capitalization of $168.13 million, a price-to-earnings ratio of -33.08 and a beta of 0.70. The company has a current ratio of 1.84, a quick ratio of 0.96 and a debt-to-equity ratio of 1.60. Ampco-Pittsburgh has a fifty-two week low of $1.75 and a fifty-two week high of $10.00.
Analyst Ratings Changes
A number of equities research analysts have weighed in on AP shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Ampco-Pittsburgh in a report on Wednesday, January 21st. Wall Street Zen downgraded shares of Ampco-Pittsburgh from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in AP. Jane Street Group LLC purchased a new position in shares of Ampco-Pittsburgh in the second quarter worth approximately $30,000. Group One Trading LLC boosted its stake in Ampco-Pittsburgh by 101.6% in the 4th quarter. Group One Trading LLC now owns 10,280 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 5,180 shares during the period. Belvedere Trading LLC acquired a new position in Ampco-Pittsburgh in the 4th quarter worth approximately $55,000. HRT Financial LP purchased a new position in Ampco-Pittsburgh during the 4th quarter worth approximately $77,000. Finally, Bailard Inc. grew its position in Ampco-Pittsburgh by 59.5% during the 2nd quarter. Bailard Inc. now owns 19,934 shares of the industrial products company’s stock worth $59,000 after purchasing an additional 7,434 shares in the last quarter. 49.16% of the stock is currently owned by institutional investors and hedge funds.
Ampco-Pittsburgh Company Profile
Ampco-Pittsburgh Corporation is a U.S.-based specialty metals manufacturer that produces cast and forged components for a range of industrial markets. The company’s primary offerings include custom-designed forged rolls, grinding rolls and specialty bars for the steel and metal processing industries. In addition, Ampco-Pittsburgh supplies precision couplings, gears and die components for original equipment manufacturers in sectors such as mining, power generation and heavy machinery.
The company operates multiple production facilities in North America, where it employs advanced melting, heat-treating and machining processes to deliver components with tight tolerances and enhanced wear resistance.