Ampco-Pittsburgh Co. (NYSE:AP) Sees Significant Decline in Short Interest

Ampco-Pittsburgh Co. (NYSE:AP) saw a large decline in short interest in December. As of December 31st, there was short interest totalling 603,200 shares, a decline of 5.7% from the December 15th total of 639,600 shares. Based on an average trading volume of 43,600 shares, the days-to-cover ratio is presently 13.8 days. Approximately 4.1% of the company’s shares are short sold.

Ampco-Pittsburgh Price Performance

Shares of NYSE:AP opened at $2.60 on Friday. 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 market cap of $52.21 million, a PE ratio of -1.15 and a beta of 0.95. The stock’s fifty day simple moving average is $2.04 and its two-hundred day simple moving average is $1.85. Ampco-Pittsburgh has a 1-year low of $0.74 and a 1-year high of $2.77.

Institutional Trading of Ampco-Pittsburgh

A number of institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC grew its position in Ampco-Pittsburgh by 38.5% during 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 during the period. State Street Corp grew its position in shares of Ampco-Pittsburgh by 92.7% during the 3rd quarter. State Street Corp now owns 74,216 shares of the industrial products company’s stock valued at $148,000 after acquiring an additional 35,700 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Ampco-Pittsburgh by 12.7% during the 2nd quarter. Renaissance Technologies LLC now owns 556,396 shares of the industrial products company’s stock worth $428,000 after purchasing an additional 62,593 shares during the last quarter. 49.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Ampco-Pittsburgh in a research note on Tuesday, January 14th. They set a “hold” rating on the stock.

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.