Amplitude, Inc. (NASDAQ:AMPL) Short Interest Down 20.1% in September

Amplitude, Inc. (NASDAQ:AMPL) was the target of a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 3,100,000 shares, a drop of 20.1% from the August 31st total of 3,880,000 shares. Based on an average daily volume of 545,300 shares, the short-interest ratio is currently 5.7 days. Approximately 4.3% of the shares of the company are short sold.

Hedge Funds Weigh In On Amplitude

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new stake in shares of Amplitude in the first quarter valued at $32,000. Russell Investments Group Ltd. acquired a new stake in Amplitude in the 1st quarter valued at about $45,000. Quest Partners LLC bought a new position in shares of Amplitude during the 2nd quarter valued at about $41,000. ANTIPODES PARTNERS Ltd acquired a new position in Amplitude in the first quarter worth approximately $95,000. Finally, Principal Financial Group Inc. acquired a new position in shares of Amplitude in the 2nd quarter worth $92,000. 73.20% of the stock is owned by institutional investors.

Amplitude Stock Up 0.8 %

AMPL stock traded up $0.07 during trading on Friday, reaching $8.90. 194,794 shares of the company’s stock were exchanged, compared to its average volume of 538,066. The firm has a market cap of $1.08 billion, a PE ratio of -12.10 and a beta of 1.32. Amplitude has a 1-year low of $7.37 and a 1-year high of $14.42. The company’s fifty day moving average price is $8.55 and its 200-day moving average price is $9.17.

Amplitude (NASDAQ:AMPL) last released its earnings results on Thursday, August 8th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.18). Amplitude had a negative net margin of 28.19% and a negative return on equity of 27.58%. The company had revenue of $73.30 million for the quarter, compared to analyst estimates of $71.98 million. During the same period in the previous year, the business posted ($0.17) EPS. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, sell-side analysts expect that Amplitude will post -0.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. UBS Group lowered their price objective on Amplitude from $11.00 to $9.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Piper Sandler reduced their price target on shares of Amplitude from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Finally, Robert W. Baird dropped their price objective on shares of Amplitude from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, Amplitude presently has a consensus rating of “Hold” and a consensus target price of $10.33.

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.