Ampco-Pittsburgh Corporation (NYSE:AP) Sees Significant Growth in Short Interest

Ampco-Pittsburgh Corporation (NYSE:AP) was the recipient of a significant growth in short interest during the month of February. As of February 13th, there was short interest totaling 162,044 shares, a growth of 635.2% from the January 29th total of 22,040 shares. Approximately 1.2% of the shares of the stock are sold short. Based on an average trading volume of 385,624 shares, the days-to-cover ratio is currently 0.4 days. Based on an average trading volume of 385,624 shares, the days-to-cover ratio is currently 0.4 days. Approximately 1.2% of the shares of the stock are sold short.

Insider Transactions at Ampco-Pittsburgh

In other Ampco-Pittsburgh news, CEO Brett Mcbrayer acquired 19,000 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was bought at an average price of $2.58 per share, with a total value of $49,020.00. Following the purchase, the chief executive officer owned 448,631 shares in the company, valued at approximately $1,157,467.98. The trade was a 4.42% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 31.61% of the company’s stock.

Hedge Funds Weigh In On Ampco-Pittsburgh

Hedge funds have recently modified their holdings of the business. Jane Street Group LLC acquired a new position in shares of Ampco-Pittsburgh in the fourth quarter worth $135,000. HRT Financial LP purchased a new position in Ampco-Pittsburgh in the fourth quarter valued at $77,000. Group One Trading LLC grew its position in shares of Ampco-Pittsburgh by 101.6% during the fourth quarter. Group One Trading LLC now owns 10,280 shares of the industrial products company’s stock worth $55,000 after buying an additional 5,180 shares in the last quarter. Citadel Advisors LLC purchased a new stake in shares of Ampco-Pittsburgh during the third quarter worth approximately $72,000. Finally, Geode Capital Management LLC increased its stake in shares of Ampco-Pittsburgh by 2.8% during the second quarter. Geode Capital Management LLC now owns 162,066 shares of the industrial products company’s stock worth $480,000 after buying an additional 4,339 shares during the period. 49.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Wall Street Zen cut Ampco-Pittsburgh from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ampco-Pittsburgh in a research report on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Ampco-Pittsburgh Trading Up 3.2%

AP traded up $0.30 during trading hours on Wednesday, reaching $9.47. The company’s stock had a trading volume of 252,349 shares, compared to its average volume of 325,500. The stock has a market cap of $192.48 million, a PE ratio of -37.87 and a beta of 0.83. Ampco-Pittsburgh has a fifty-two week low of $1.75 and a fifty-two week high of $9.55. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.84 and a quick ratio of 0.96. The business’s 50-day moving average is $6.17 and its 200-day moving average is $3.84.

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.