Ampco-Pittsburgh Corporation (NYSE:AP) Short Interest Up 154.8% in February

Ampco-Pittsburgh Corporation (NYSE:AP) was the target of a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 412,932 shares, an increase of 154.8% from the February 12th total of 162,044 shares. Based on an average daily volume of 324,465 shares, the short-interest ratio is currently 1.3 days. Approximately 3.0% of the shares of the company are sold short. Approximately 3.0% of the shares of the company are sold short. Based on an average daily volume of 324,465 shares, the short-interest ratio is currently 1.3 days.

Ampco-Pittsburgh Price Performance

AP stock traded down $0.49 during midday trading on Wednesday, reaching $9.50. The company had a trading volume of 297,863 shares, compared to its average volume of 282,646. The firm has a 50-day moving average price of $7.02 and a 200-day moving average price of $4.23. The company has a market capitalization of $193.02 million, a P/E ratio of -37.98 and a beta of 0.70. Ampco-Pittsburgh has a 1 year low of $1.75 and a 1 year high of $10.00. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.84 and a quick ratio of 0.96.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AP shares. Wall Street Zen lowered shares of Ampco-Pittsburgh from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ampco-Pittsburgh in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Ampco-Pittsburgh has an average rating of “Sell”.

Institutional Trading of Ampco-Pittsburgh

A number of institutional investors have recently made changes to their positions in the stock. Teton Advisors LLC purchased a new position in Ampco-Pittsburgh during the 3rd quarter valued at about $248,000. Ameriprise Financial Inc. boosted its position in Ampco-Pittsburgh by 3.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,159,681 shares of the industrial products company’s stock valued at $3,433,000 after acquiring an additional 33,950 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Ampco-Pittsburgh by 6.0% during the 3rd quarter. Vanguard Group Inc. now owns 667,704 shares of the industrial products company’s stock worth $1,529,000 after acquiring an additional 38,021 shares during the period. Marshall Wace LLP bought a new position in shares of Ampco-Pittsburgh in the 4th quarter worth approximately $1,110,000. Finally, Informed Momentum Co LLC purchased a new position in shares of Ampco-Pittsburgh in the 4th quarter valued at approximately $791,000. Hedge funds and other institutional investors own 49.16% of the company’s stock.

Ampco-Pittsburgh Company Profile

Ampco-Pittsburgh Corporation is a U.S.-based specialty metals manufacturer that produces cast and forged components for a range of industrial markets. The company’s primary offerings include custom-designed forged rolls, grinding rolls and specialty bars for the steel and metal processing industries. In addition, Ampco-Pittsburgh supplies precision couplings, gears and die components for original equipment manufacturers in sectors such as mining, power generation and heavy machinery.

The company operates multiple production facilities in North America, where it employs advanced melting, heat-treating and machining processes to deliver components with tight tolerances and enhanced wear resistance.