Short Interest in Amplitude, Inc. (NASDAQ:AMPL) Decreases By 5.5%

Amplitude, Inc. (NASDAQ:AMPL) was the target of a large decrease in short interest in the month of April. As of April 15th, there was short interest totalling 1,710,000 shares, a decrease of 5.5% from the March 31st total of 1,810,000 shares. Based on an average daily volume of 457,900 shares, the days-to-cover ratio is presently 3.7 days. Currently, 2.6% of the company’s shares are sold short.

Amplitude Price Performance

Shares of AMPL opened at $9.80 on Thursday. The firm has a fifty day moving average price of $10.76 and a 200 day moving average price of $11.52. The stock has a market cap of $1.18 billion, a PE ratio of -12.56 and a beta of 1.36. Amplitude has a 1-year low of $8.50 and a 1-year high of $14.42.

Amplitude (NASDAQ:AMPL) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The firm had revenue of $71.40 million during the quarter, compared to analysts’ expectations of $71.56 million. Amplitude had a negative net margin of 32.71% and a negative return on equity of 27.73%. As a group, equities analysts expect that Amplitude will post -0.62 EPS for the current fiscal year.

Insider Transactions at Amplitude

In related news, Director Catherine Wong sold 3,515 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $11.97, for a total value of $42,074.55. Following the sale, the director now directly owns 86,335 shares in the company, valued at approximately $1,033,429.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 28.71% of the company’s stock.

Institutional Investors Weigh In On Amplitude

Several hedge funds have recently made changes to their positions in AMPL. BluePath Capital Management LLC purchased a new stake in Amplitude during the 3rd quarter valued at approximately $33,000. SG Americas Securities LLC purchased a new stake in shares of Amplitude in the third quarter valued at about $116,000. Allspring Global Investments Holdings LLC increased its stake in shares of Amplitude by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 12,984 shares of the company’s stock worth $141,000 after acquiring an additional 1,099 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Amplitude during the third quarter worth about $145,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Amplitude by 73.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,585 shares of the company’s stock worth $157,000 after purchasing an additional 5,754 shares in the last quarter. Institutional investors and hedge funds own 73.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Piper Sandler reiterated a “neutral” rating and issued a $11.00 price objective on shares of Amplitude in a report on Wednesday, February 21st. Morgan Stanley reduced their target price on shares of Amplitude from $12.00 to $10.00 and set an “underweight” rating on the stock in a report on Wednesday, April 17th. Scotiabank downgraded shares of Amplitude from a “sector outperform” rating to a “sector perform” rating and set a $12.00 price objective on the stock. in a research report on Wednesday, February 21st. KeyCorp assumed coverage on shares of Amplitude in a research report on Thursday, March 21st. They set a “sector weight” rating for the company. Finally, Citigroup dropped their target price on Amplitude from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, February 21st. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $11.50.

About Amplitude

Amplitude, Inc, together with its subsidiaries, provides a digital analytics platform that analyzes customer behavior in the United States and internationally. It offers Amplitude Analytics, which provides real-time product data and reconstructed user visits; Amplitude Experiment, a solution that allows teams to test new capabilities and safely roll out new features; Amplitude CDP, an insight-driven solution that encompasses the data infrastructure, audience management, and data streaming capabilities; and Amplitude Session Replay used by product, marketing, and data teams to understand user behavior, diagnose product issues, and improve product outcomes.