Amplify Energy Corp. (NYSE:AMPY) Sees Large Increase in Short Interest

Amplify Energy Corp. (NYSE:AMPY) was the target of a significant increase in short interest in November. As of November 30th, there was short interest totalling 946,100 shares, an increase of 5.6% from the November 15th total of 896,100 shares. Approximately 2.6% of the shares of the company are sold short. Based on an average daily trading volume, of 268,800 shares, the days-to-cover ratio is currently 3.5 days.

Institutional Trading of Amplify Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. grew its holdings in shares of Amplify Energy by 422.6% in the second quarter. American Century Companies Inc. now owns 385,397 shares of the company’s stock valued at $2,613,000 after purchasing an additional 311,646 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Amplify Energy in the 3rd quarter worth about $302,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Amplify Energy in the 1st quarter worth about $67,000. Panagora Asset Management Inc. raised its position in shares of Amplify Energy by 10.6% during the 2nd quarter. Panagora Asset Management Inc. now owns 275,542 shares of the company’s stock valued at $1,868,000 after buying an additional 26,508 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. bought a new position in shares of Amplify Energy in the 2nd quarter valued at about $495,000. Institutional investors own 42.84% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Benchmark restated a “buy” rating and set a $11.00 target price on shares of Amplify Energy in a research note on Wednesday, October 16th.

Amplify Energy Price Performance

Shares of Amplify Energy stock opened at $6.12 on Wednesday. The company has a market capitalization of $243.19 million, a price-to-earnings ratio of 3.97 and a beta of 1.95. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.29. The stock’s 50-day simple moving average is $6.63 and its 200-day simple moving average is $6.71. Amplify Energy has a 52 week low of $3.56 and a 52 week high of $8.15.

About Amplify Energy

Amplify Energy Corp., together with its subsidiaries, engages in the acquisition, development, exploitation, and production of oil and natural gas properties in the United States. The company’s properties consist of operated and non-operated working interests in producing and undeveloped leasehold acreage, as well as working interests in identified producing wells located in Oklahoma, the Rockies, federal waters offshore Southern California, East Texas/North Louisiana, and Eagle Ford.