AmpliTech Group (NASDAQ:AMPG) Stock Price Down 3% – Here’s What Happened

AmpliTech Group, Inc. (NASDAQ:AMPG)’s stock price traded down 3% during trading on Friday. The stock traded as low as $2.56 and last traded at $2.58. 350,174 shares were traded during mid-day trading, a decline of 60% from the average session volume of 881,190 shares. The stock had previously closed at $2.66.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AMPG shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AmpliTech Group in a research report on Thursday, October 15th. Wall Street Zen cut AmpliTech Group from a “hold” rating to a “strong sell” rating in a report on Saturday, August 29th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $7.00.

AmpliTech Group Stock Down 3.0%

The firm has a market capitalization of $77.74 million, a PE ratio of -7.59 and a beta of -0.26. The stock has a 50-day moving average price of $3.19 and a 200 day moving average price of $4.33.

AmpliTech Group (NASDAQ:AMPG) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.10). The company had revenue of $8.07 million during the quarter, compared to analysts’ expectations of $8.00 million. AmpliTech Group had a negative return on equity of 19.55% and a negative net margin of 33.37%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AMPG. FNY Investment Advisers LLC purchased a new position in AmpliTech Group in the 2nd quarter valued at about $643,000. Renaissance Technologies LLC boosted its holdings in 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 buying an additional 214,400 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in AmpliTech Group by 156.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 215,548 shares of the company’s stock worth $410,000 after buying an additional 131,599 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in AmpliTech Group during the 2nd quarter worth approximately $119,000. Institutional investors and hedge funds own 10.99% of the company’s stock.

About AmpliTech Group

AmpliTech Group, Inc (NASDAQ:AMPG) designs and manufactures radio-frequency (RF) and microwave components, assemblies, and subsystems. Its products include low-noise amplifiers, power amplifiers, filters, antennas, and other specialized RF equipment used to receive, transmit, and process high-frequency signals.

The company serves markets that require high-performance communications and signal-management equipment, including satellite communications, wireless and 5G infrastructure, defense, aerospace, space, and other commercial applications.