AmpliTech Group, Inc. (NASDAQ:AMPG) Short Interest Up 135.6% in May

AmpliTech Group, Inc. (NASDAQ:AMPG) was the target of a significant growth in short interest in May. As of May 29th, there was short interest totaling 4,088,991 shares, a growth of 135.6% from the May 14th total of 1,735,469 shares. Approximately 19.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 9,519,018 shares, the days-to-cover ratio is presently 0.4 days.

Insider Activity

In other news, Director Daniel Richard Mazziota sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $4.95, for a total value of $49,500.00. Following the completion of the sale, the director directly owned 254,900 shares in the company, valued at $1,261,755. The trade was a 3.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Jorge Luis Flores sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $5.36, for a total value of $160,800.00. Following the completion of the sale, the chief operating officer owned 76,000 shares of the company’s stock, valued at $407,360. This trade represents a 28.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 90,000 shares of company stock worth $450,300 over the last three months. 17.12% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AmpliTech Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMPG. Creek Drive Management Group LLC acquired a new position in AmpliTech Group during the fourth quarter worth $1,196,000. Renaissance Technologies LLC boosted its stake in AmpliTech Group by 135.5% during the first 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. Integrated Wealth Concepts LLC acquired a new position in AmpliTech Group during the third quarter worth $752,000. Dimensional Fund Advisors LP boosted its stake in AmpliTech Group by 156.8% during the first 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 during the last quarter. Finally, Pekin Hardy Strauss Inc. acquired a new position in AmpliTech Group during the third quarter worth $281,000. Institutional investors and hedge funds own 10.99% of the company’s stock.

AmpliTech Group Stock Performance

NASDAQ AMPG opened at $8.49 on Monday. The stock’s fifty day moving average is $3.49 and its two-hundred day moving average is $3.18. The firm has a market capitalization of $215.14 million, a P/E ratio of -27.39 and a beta of -0.19. AmpliTech Group has a fifty-two week low of $1.64 and a fifty-two week high of $9.30.

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

Analysts Set New Price Targets

A number of research firms have recently commented on AMPG. Weiss Ratings restated a “sell (d-)” rating on shares of AmpliTech Group in a research report on Monday, April 20th. Wall Street Zen upgraded AmpliTech Group from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Maxim Group lowered their price target on AmpliTech Group from $9.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, March 30th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.00.

AmpliTech Group Company Profile

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.