Ampco-Pittsburgh (NYSE:AP) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Ampco-Pittsburgh Co. (NYSE:AP) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.98 and traded as high as $2.32. Ampco-Pittsburgh shares last traded at $2.19, with a volume of 23,543 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Ampco-Pittsburgh in a research note on Saturday. They set a “hold” rating on the stock.

Ampco-Pittsburgh Trading Up 0.9 %

The firm has a market cap of $43.99 million, a PE ratio of -0.97 and a beta of 0.96. The company’s fifty day moving average price is $2.25 and its two-hundred day moving average price is $1.98. The company has a quick ratio of 0.98, a current ratio of 1.99 and a debt-to-equity ratio of 1.57.

Ampco-Pittsburgh (NYSE:AP) last released its earnings results on Tuesday, November 12th. The industrial products company reported ($0.10) earnings per share (EPS) for the quarter. Ampco-Pittsburgh had a negative net margin of 10.46% and a negative return on equity of 63.13%. The company had revenue of $96.17 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Ampco-Pittsburgh stock. State Street Corp grew its holdings in shares of Ampco-Pittsburgh Co. (NYSE:AP) by 92.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 74,216 shares of the industrial products company’s stock after purchasing an additional 35,700 shares during the period. State Street Corp owned 0.37% of Ampco-Pittsburgh worth $148,000 as of its most recent SEC filing. 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.