Ampco-Pittsburgh Co. (NYSE:AP) Short Interest Update

Ampco-Pittsburgh Co. (NYSE:AP) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totalling 849,400 shares, a drop of 12.7% from the August 15th total of 973,500 shares. Based on an average daily trading volume, of 951,700 shares, the days-to-cover ratio is presently 0.9 days. Currently, 5.8% of the shares of the company are sold short.

Ampco-Pittsburgh Price Performance

Shares of NYSE:AP traded up $0.14 during midday trading on Wednesday, reaching $2.17. 90,956 shares of the company’s stock were exchanged, compared to its average volume of 369,691. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.02 and a current ratio of 1.98. The company’s 50 day simple moving average is $1.72 and its two-hundred day simple moving average is $1.75. Ampco-Pittsburgh has a 12 month low of $0.74 and a 12 month high of $3.02. The firm has a market capitalization of $43.11 million, a PE ratio of -0.99 and a beta of 0.84.

Ampco-Pittsburgh (NYSE:AP) last announced its quarterly earnings results on Monday, August 12th. The industrial products company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. Ampco-Pittsburgh had a negative net margin of 9.67% and a negative return on equity of 51.75%. The firm had revenue of $110.99 million during the quarter.

Analyst Ratings Changes

Separately, StockNews.com upgraded Ampco-Pittsburgh from a “sell” rating to a “hold” rating in a research note on Tuesday, August 13th.

Institutional Trading of Ampco-Pittsburgh

A hedge fund recently raised its stake in Ampco-Pittsburgh stock. Renaissance Technologies LLC grew its position in Ampco-Pittsburgh Co. (NYSE:AP) by 12.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 556,396 shares of the industrial products company’s stock after purchasing an additional 62,593 shares during the period. Renaissance Technologies LLC owned about 2.80% of Ampco-Pittsburgh worth $428,000 as of its most recent filing with the SEC. Institutional investors own 49.16% of the company’s stock.

About Ampco-Pittsburgh

Ampco-Pittsburgh Corporation, together with its subsidiaries, engages in manufacture and sale of specialty metal products and customized equipment to commercial and industrial users worldwide. The company operates through Forged and Cast Engineered Products (FCEP); and Air and Liquid Processing (ALP) segments.