Ampco-Pittsburgh Co. (NYSE:AP) Short Interest Update

Ampco-Pittsburgh Co. (NYSE:AP) saw a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 702,300 shares, a drop of 8.6% from the October 15th total of 768,600 shares. Based on an average trading volume of 86,700 shares, the short-interest ratio is currently 8.1 days. Currently, 4.8% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

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

Ampco-Pittsburgh Stock Performance

AP traded up $0.06 during midday trading on Monday, hitting $1.72. 28,574 shares of the company were exchanged, compared to its average volume of 308,734. The firm has a market capitalization of $34.56 million, a price-to-earnings ratio of -0.76 and a beta of 0.86. The company’s 50 day simple moving average is $1.88 and its 200 day simple moving average is $1.61. The company has a current ratio of 1.99, a quick ratio of 1.02 and a debt-to-equity ratio of 1.57. Ampco-Pittsburgh has a 1-year low of $0.74 and a 1-year high of $2.89.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. State Street Corp lifted 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 valued at $148,000 after purchasing an additional 35,700 shares during the period. Geode Capital Management LLC increased 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 valued at $304,000 after buying an additional 42,305 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Ampco-Pittsburgh by 12.7% in the second quarter. Renaissance Technologies LLC now owns 556,396 shares of the industrial products company’s stock worth $428,000 after acquiring an additional 62,593 shares during the period. 49.16% of the stock is currently owned by hedge funds and other 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.