Ampco-Pittsburgh Co. (NYSE:AP) Short Interest Down 5.7% in December

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

Ampco-Pittsburgh Stock Performance

Shares of Ampco-Pittsburgh stock opened at $2.60 on Friday. The business has a 50-day moving average of $2.04 and a 200 day moving average of $1.85. Ampco-Pittsburgh has a 12 month low of $0.74 and a 12 month high of $2.77. The stock has a market capitalization of $52.21 million, a price-to-earnings ratio of -1.15 and a beta of 0.95. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.99 and a quick ratio of 0.98.

Hedge Funds Weigh In On Ampco-Pittsburgh

A number of hedge funds and other institutional investors have recently bought and sold shares of AP. Geode Capital Management LLC raised its position in Ampco-Pittsburgh by 38.5% in the 3rd quarter. Geode Capital Management LLC now owns 152,111 shares of the industrial products company’s stock valued at $304,000 after purchasing an additional 42,305 shares in the last quarter. State Street Corp raised its position in 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 in the last quarter. Finally, Renaissance Technologies LLC raised its position in Ampco-Pittsburgh by 12.7% in the 2nd quarter. Renaissance Technologies LLC now owns 556,396 shares of the industrial products company’s stock valued at $428,000 after purchasing an additional 62,593 shares in the last quarter. 49.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Ampco-Pittsburgh in a report on Tuesday, January 14th. They set a “hold” rating for the company.

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.