Ampco-Pittsburgh Corporation (NYSE:AP) Short Interest Update

Ampco-Pittsburgh Corporation (NYSE:AP) was the target of a significant increase in short interest in the month of March. As of March 31st, there was short interest totaling 415,673 shares, an increase of 19.9% from the March 15th total of 346,709 shares. Currently, 2.7% of the shares of the stock are sold short. Based on an average trading volume of 376,584 shares, the days-to-cover ratio is currently 1.1 days.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AP shares. Wall Street Zen cut shares of Ampco-Pittsburgh from a “buy” rating to a “hold” rating in a research note 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 investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Ampco-Pittsburgh Price Performance

Ampco-Pittsburgh stock traded up $0.27 during trading hours on Friday, hitting $9.46. 140,501 shares of the stock were exchanged, compared to its average volume of 146,244. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.04 and a current ratio of 1.84. The stock has a market capitalization of $192.24 million, a P/E ratio of -2.90 and a beta of 0.88. Ampco-Pittsburgh has a 12 month low of $1.75 and a 12 month high of $10.00. The business’s 50-day moving average is $8.12 and its two-hundred day moving average is $5.19.

Ampco-Pittsburgh (NYSE:AP) last announced its earnings results on Monday, March 16th. The industrial products company reported ($0.17) EPS for the quarter. The business had revenue of $104.37 million for the quarter. Ampco-Pittsburgh had a negative return on equity of 3.83% and a negative net margin of 15.22%.

Insiders Place Their Bets

In other Ampco-Pittsburgh news, CEO Brett Mcbrayer bought 7,500 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were acquired at an average price of $6.67 per share, with a total value of $50,025.00. Following the completion of the purchase, the chief executive officer directly owned 585,731 shares in the company, valued at $3,906,825.77. The trade was a 1.30% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 23.48% of the stock is currently owned by insiders.

Institutional Trading of Ampco-Pittsburgh

Several large investors have recently made changes to their positions in AP. Jane Street Group LLC bought a new stake in shares of Ampco-Pittsburgh during the second quarter worth $30,000. Group One Trading LLC bought a new stake in shares of Ampco-Pittsburgh during the second quarter valued at approximately $43,000. Belvedere Trading LLC bought a new stake in shares of Ampco-Pittsburgh during the fourth quarter valued at approximately $55,000. Citadel Advisors LLC bought a new stake in shares of Ampco-Pittsburgh during the third quarter valued at approximately $72,000. Finally, HRT Financial LP bought a new stake in shares of Ampco-Pittsburgh during the fourth quarter valued at approximately $77,000. Institutional investors own 49.16% of the company’s stock.

About Ampco-Pittsburgh

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.