AMMO (NASDAQ:POWWP) Trading 1.1% Higher – Still a Buy?

AMMO, Inc. (NASDAQ:POWWP)’s stock price was up 1.1% during trading on Thursday . The stock traded as high as $23.76 and last traded at $23.75. Approximately 6,041 shares were traded during mid-day trading, an increase of 58% from the average session volume of 3,830 shares. The stock had previously closed at $23.50.

AMMO Stock Performance

The business’s 50 day simple moving average is $24.18 and its two-hundred day simple moving average is $24.37.

AMMO Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.5469 dividend. This represents a $2.19 dividend on an annualized basis and a yield of 9.2%. The ex-dividend date of this dividend is Tuesday, September 1st.

AMMO Company Profile

AMMO, Inc is a holding company organized in 2019 as a spin-off from Vista Outdoor and trades on the NASDAQ under the ticker POWWP. Through its subsidiaries, the company specializes in the design, manufacturing and marketing of ammunition and propellant powders for commercial, law enforcement and military customers. AMMO, Inc’s primary operating unit, Black Hills Ammunition, offers a range of premium cartridges in common and specialty calibers, while Bridgeport Powder manufactures a portfolio of smokeless propellants.

The company’s products cater to sport shooters, hunters, competitive marksmen and professional users.