Short Interest in Amplitude, Inc. (NASDAQ:AMPL) Increases By 34.5%

Amplitude, Inc. (NASDAQ:AMPLGet Free Report) saw a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 2,300,000 shares, a growth of 34.5% from the May 15th total of 1,710,000 shares. Approximately 3.4% of the shares of the company are short sold. Based on an average daily volume of 565,300 shares, the short-interest ratio is presently 4.1 days.

Amplitude Trading Down 0.6 %

Shares of Amplitude stock opened at $8.30 on Friday. Amplitude has a 1 year low of $8.20 and a 1 year high of $14.42. The stock has a 50-day moving average price of $9.44 and a 200 day moving average price of $11.23. The company has a market cap of $1.01 billion, a P/E ratio of -11.37 and a beta of 1.31.

Amplitude (NASDAQ:AMPLGet Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.18) EPS for the quarter, hitting the consensus estimate of ($0.18). The business had revenue of $72.62 million during the quarter, compared to analysts’ expectations of $72.25 million. Amplitude had a negative net margin of 30.28% and a negative return on equity of 26.15%. On average, equities analysts forecast that Amplitude will post -0.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Catherine Wong sold 3,515 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $9.16, for a total transaction of $32,197.40. Following the completion of the sale, the director now owns 82,820 shares of the company’s stock, valued at approximately $758,631.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. 28.71% of the stock is owned by corporate insiders.

Institutional Trading of Amplitude

Several hedge funds and other institutional investors have recently modified their holdings of the company. Headlands Technologies LLC purchased a new position in Amplitude in the first quarter valued at about $32,000. Russell Investments Group Ltd. bought a new stake in shares of Amplitude in the 1st quarter valued at approximately $45,000. ANTIPODES PARTNERS Ltd acquired a new position in Amplitude in the first quarter worth approximately $95,000. MQS Management LLC bought a new position in Amplitude during the first quarter valued at approximately $120,000. Finally, ProShare Advisors LLC lifted its stake in Amplitude by 10.2% in the first quarter. ProShare Advisors LLC now owns 12,356 shares of the company’s stock valued at $134,000 after acquiring an additional 1,145 shares during the last quarter. 73.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on AMPL shares. KeyCorp began coverage on shares of Amplitude in a report on Thursday, March 21st. They issued a “sector weight” rating on the stock. UBS Group decreased their price target on Amplitude from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Friday, May 10th. Citigroup dropped their price objective on Amplitude from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 21st. Morgan Stanley decreased their target price on Amplitude from $10.00 to $9.00 and set an “underweight” rating for the company in a research note on Friday, May 10th. Finally, Scotiabank cut shares of Amplitude from a “sector outperform” rating to a “sector perform” rating and set a $12.00 price target on the stock. in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $11.20.

View Our Latest Stock Analysis on Amplitude

Amplitude Company Profile

(Get Free Report)

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.

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