AmpliTech Group (NASDAQ:AMPG) Stock Price Down 3% – Here’s Why

AmpliTech Group, Inc. (NASDAQ:AMPG)’s share price traded down 3% during trading on Friday. The company traded as low as $2.56 and last traded at $2.58. Approximately 350,174 shares traded hands during trading, a decline of 60% from the average daily volume of 881,190 shares. The stock had previously closed at $2.66.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wall Street Zen cut AmpliTech Group from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AmpliTech Group in a report on Thursday, October 15th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $7.00.

AmpliTech Group Trading Down 3.0%

The firm’s 50-day simple moving average is $3.19 and its two-hundred day simple moving average is $4.33. The company has a market cap of $77.74 million, a PE ratio of -7.59 and a beta of -0.26.

AmpliTech Group (NASDAQ:AMPG) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.10). The firm had revenue of $8.07 million for the quarter, compared to analyst estimates of $8.00 million. AmpliTech Group had a negative return on equity of 19.55% and a negative net margin of 33.37%.

Hedge Funds Weigh In On AmpliTech Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Squarepoint Ops LLC acquired a new stake in AmpliTech Group during the 2nd quarter valued at approximately $119,000. Dimensional Fund Advisors LP boosted its holdings in shares of AmpliTech Group by 156.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 215,548 shares of the company’s stock valued at $410,000 after acquiring an additional 131,599 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of AmpliTech Group in the second quarter worth $643,000. Finally, Renaissance Technologies LLC increased its stake in shares of AmpliTech Group by 135.5% in the first quarter. Renaissance Technologies LLC now owns 372,600 shares of the company’s stock worth $708,000 after acquiring an additional 214,400 shares during the period. Institutional investors and hedge funds own 10.99% of the company’s stock.

About AmpliTech Group

AmpliTech Group, Inc (NASDAQ:AMPG) designs and manufactures radio-frequency (RF) and microwave components, assemblies, and subsystems. Its products include low-noise amplifiers, power amplifiers, filters, antennas, and other specialized RF equipment used to receive, transmit, and process high-frequency signals.

The company serves markets that require high-performance communications and signal-management equipment, including satellite communications, wireless and 5G infrastructure, defense, aerospace, space, and other commercial applications.