Short Interest in AmpliTech Group, Inc. (NASDAQ:AMPG) Grows By 74.9%

AmpliTech Group, Inc. (NASDAQ:AMPG) was the recipient of a significant increase in short interest in the month of June. As of June 15th, there was short interest totaling 7,150,592 shares, an increase of 74.9% from the May 31st total of 4,088,991 shares. Based on an average daily trading volume, of 9,091,769 shares, the short-interest ratio is currently 0.8 days. Approximately 34.0% of the shares of the stock are short sold.

AmpliTech Group Stock Performance

AmpliTech Group stock opened at $5.99 on Friday. The firm’s fifty day moving average price is $5.11 and its 200-day moving average price is $3.61. The stock has a market cap of $151.79 million, a P/E ratio of -19.32 and a beta of -0.26. AmpliTech Group has a fifty-two week low of $1.64 and a fifty-two week high of $10.11.

AmpliTech Group (NASDAQ:AMPG) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $5.35 million for the quarter, compared to the consensus estimate of $5.00 million. AmpliTech Group had a negative return on equity of 17.50% and a negative net margin of 24.82%.

Insider Activity

In other news, Director Daniel Richard Mazziota sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $7.71, for a total value of $77,100.00. Following the completion of the transaction, the director directly owned 237,743 shares in the company, valued at approximately $1,832,998.53. This trade represents a 4.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Louisa Sanfratello sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $4.80, for a total transaction of $240,000.00. Following the transaction, the chief financial officer directly owned 60,000 shares of the company’s stock, valued at approximately $288,000. This represents a 45.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 107,157 shares of company stock worth $587,948 over the last ninety days. Company insiders own 17.12% of the company’s stock.

Institutional Trading of AmpliTech Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC lifted its holdings in shares of AmpliTech Group by 135.5% in the 1st quarter. Renaissance Technologies LLC now owns 372,600 shares of the company’s stock worth $708,000 after acquiring an additional 214,400 shares during the last quarter. Dimensional Fund Advisors LP raised its position in AmpliTech Group by 156.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 215,548 shares of the company’s stock worth $410,000 after purchasing an additional 131,599 shares during the period. Creek Drive Management Group LLC purchased a new position in AmpliTech Group in the 4th quarter worth $1,196,000. Virtu Financial LLC raised its position in AmpliTech Group by 32.3% in the 4th quarter. Virtu Financial LLC now owns 19,523 shares of the company’s stock worth $58,000 after purchasing an additional 4,762 shares during the period. Finally, XTX Topco Ltd bought a new stake in AmpliTech Group in the fourth quarter worth $101,000. Hedge funds and other institutional investors own 10.99% of the company’s stock.

Analyst Ratings Changes

AMPG has been the topic of several recent analyst reports. Wall Street Zen raised shares of AmpliTech Group from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. Maxim Group reduced their price target on shares of AmpliTech Group from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, March 30th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AmpliTech Group in a report on Monday, April 20th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $7.00.

About AmpliTech Group

AmpliTech Group, Inc is a design, development and manufacturing company specializing in high-performance RF and microwave components and subsystems. Headquartered in Lancaster, Pennsylvania, the company focuses on delivering ruggedized solutions for demanding applications in defense, aerospace, satellite communications and industrial test and measurement. AmpliTech’s products are engineered to meet stringent military and commercial standards, making them well-suited for mission-critical environments.

The company’s product portfolio includes high-power amplifiers, low-noise amplifiers, filters, frequency converters and integrated assemblies.