Ampco-Pittsburgh Co. (NYSE:AP) Sees Significant Decline in Short Interest

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

Ampco-Pittsburgh Price Performance

Shares of NYSE AP traded up $0.14 during mid-day trading on Wednesday, reaching $2.17. The company’s stock had a trading volume of 90,956 shares, compared to its average volume of 369,691. The stock has a fifty day moving average of $1.72 and a two-hundred day moving average of $1.75. The firm has a market capitalization of $43.11 million, a PE ratio of -0.93 and a beta of 0.84. Ampco-Pittsburgh has a 52 week low of $0.74 and a 52 week high of $3.02. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.98 and a quick ratio of 1.02.

Ampco-Pittsburgh (NYSE:AP) last released its quarterly earnings data on Monday, August 12th. The industrial products company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Ampco-Pittsburgh

A hedge fund recently raised its stake in Ampco-Pittsburgh stock. Renaissance Technologies LLC lifted its holdings in Ampco-Pittsburgh Co. (NYSE:AP) by 12.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 556,396 shares of the industrial products company’s stock after buying an additional 62,593 shares during the period. Renaissance Technologies LLC owned about 2.80% of Ampco-Pittsburgh worth $428,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 49.16% of the company’s stock.

Ampco-Pittsburgh Company Profile

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.