AMMO, Inc. (NASDAQ:POWW – Get Free Report)’s share price dropped 1.9% on Wednesday . The stock traded as low as $1.54 and last traded at $1.56. Approximately 555,441 shares traded hands during trading, a decline of 14% from the average daily volume of 645,582 shares. The stock had previously closed at $1.59.
Analysts Set New Price Targets
Separately, Roth Mkm dropped their price target on shares of AMMO from $2.25 to $2.00 and set a “neutral” rating for the company in a research report on Monday, June 17th.
Check Out Our Latest Stock Analysis on POWW
AMMO Stock Performance
AMMO (NASDAQ:POWW – Get Free Report) last released its quarterly earnings data on Thursday, June 13th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03). AMMO had a positive return on equity of 3.13% and a negative net margin of 10.73%. The company had revenue of $40.42 million for the quarter, compared to analyst estimates of $37.60 million. As a group, analysts anticipate that AMMO, Inc. will post 0.17 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of POWW. Hurlow Wealth Management Group Inc. bought a new position in AMMO in the 4th quarter valued at $28,000. Fortitude Family Office LLC bought a new position in shares of AMMO in the fourth quarter valued at about $651,000. Premier Path Wealth Partners LLC bought a new position in shares of AMMO in the fourth quarter valued at about $32,000. International Assets Investment Management LLC acquired a new position in AMMO during the 4th quarter worth about $220,000. Finally, Cutter & CO Brokerage Inc. bought a new stake in AMMO during the 4th quarter worth about $40,000. Institutional investors own 26.40% of the company’s stock.
About AMMO
AMMO, Inc designs, produces, and markets ammunition and ammunition component products for sport and recreational shooters, hunters, individuals seeking home or personal protection, manufacturers, and law enforcement and military agencies. The company's products include STREAK Visual Ammunition that enables shooters to see the path of the bullets fired by them; and Stelth Subsonic ammunition primarily for suppressed firearms.
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