Ampco-Pittsburgh (NYSE:AP) Share Price Passes Above 200-Day Moving Average – Here’s Why

Ampco-Pittsburgh Co. (NYSE:AP) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.93 and traded as high as $2.59. Ampco-Pittsburgh shares last traded at $2.43, with a volume of 9,069 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Ampco-Pittsburgh in a research note on Thursday. They issued a “hold” rating for the company.

Ampco-Pittsburgh Stock Down 3.6 %

The company has a current ratio of 1.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.57. The stock has a 50 day simple moving average of $2.18 and a 200 day simple moving average of $1.93. The firm has a market capitalization of $48.83 million, a PE ratio of -1.08 and a beta of 0.95.

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

Hedge Funds Weigh In On Ampco-Pittsburgh

Institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its holdings in Ampco-Pittsburgh by 38.5% in the third quarter. Geode Capital Management LLC now owns 152,111 shares of the industrial products company’s stock worth $304,000 after purchasing an additional 42,305 shares during the period. State Street Corp grew its stake in shares of Ampco-Pittsburgh by 92.7% in the 3rd quarter. State Street Corp now owns 74,216 shares of the industrial products company’s stock worth $148,000 after buying an additional 35,700 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Ampco-Pittsburgh by 12.7% in the 2nd quarter. Renaissance Technologies LLC now owns 556,396 shares of the industrial products company’s stock worth $428,000 after buying an additional 62,593 shares during the last quarter. 49.16% of the stock is owned by institutional investors.

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.