Ampco-Pittsburgh (NYSE:AP) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Ampco-Pittsburgh Co. (NYSE:AP)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.72 and traded as high as $1.93. Ampco-Pittsburgh shares last traded at $1.80, with a volume of 82,940 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Ampco-Pittsburgh from a “sell” rating to a “hold” rating in a research report on Tuesday, August 13th.

Ampco-Pittsburgh Stock Down 2.2 %

The stock has a market capitalization of $35.76 million, a price-to-earnings ratio of -0.82 and a beta of 0.85. The company has a quick ratio of 1.02, a current ratio of 1.98 and a debt-to-equity ratio of 1.72. The firm has a 50-day moving average of $1.83 and a two-hundred day moving average of $1.72.

Ampco-Pittsburgh (NYSE:AP) last posted its quarterly earnings results on Monday, August 12th. The industrial products company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.02. The firm had revenue of $110.99 million for the quarter. Ampco-Pittsburgh had a negative return on equity of 51.75% and a negative net margin of 9.67%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Ampco-Pittsburgh stock. Renaissance Technologies LLC grew its position in Ampco-Pittsburgh Co. (NYSE:AP) by 12.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 556,396 shares of the industrial products company’s stock after purchasing an additional 62,593 shares during the period. Renaissance Technologies LLC owned about 2.80% of Ampco-Pittsburgh worth $428,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 49.16% of the company’s stock.

Ampco-Pittsburgh Company Profile

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.