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 in 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 presently 1.3 days. Currently, 3.0% of the company’s shares are sold short. Currently, 3.0% of the company’s shares are sold short. Based on an average daily volume of 324,465 shares, the short-interest ratio is presently 1.3 days.

Ampco-Pittsburgh Stock Performance

AP stock traded down $0.72 during midday trading on Thursday, hitting $8.80. 260,627 shares of the stock traded hands, compared to its average volume of 273,738. 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. The firm has a market cap of $178.92 million, a P/E ratio of -35.20 and a beta of 0.70. The stock’s fifty day simple moving average is $7.18 and its 200-day simple moving average is $4.30.

Analyst Upgrades and Downgrades

AP has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of Ampco-Pittsburgh from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ampco-Pittsburgh in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Institutional Trading of Ampco-Pittsburgh

A number of hedge funds have recently bought and sold shares of AP. Geode Capital Management LLC lifted its position in Ampco-Pittsburgh by 2.8% in the second quarter. Geode Capital Management LLC now owns 162,066 shares of the industrial products company’s stock valued at $480,000 after buying an additional 4,339 shares during the last quarter. Group One Trading LLC boosted its holdings in Ampco-Pittsburgh by 101.6% during the 4th quarter. Group One Trading LLC now owns 10,280 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 5,180 shares during the period. State Street Corp grew its position in Ampco-Pittsburgh by 7.9% in the 4th quarter. State Street Corp now owns 80,116 shares of the industrial products company’s stock valued at $427,000 after acquiring an additional 5,900 shares in the last quarter. Bailard Inc. lifted its position in shares of Ampco-Pittsburgh by 59.5% during the second quarter. Bailard Inc. now owns 19,934 shares of the industrial products company’s stock worth $59,000 after purchasing an additional 7,434 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Ampco-Pittsburgh during the second quarter worth about $30,000. Institutional investors and hedge funds own 49.16% of the company’s stock.

About Ampco-Pittsburgh

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.