Ampco-Pittsburgh (NYSE:AP) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Ampco-Pittsburgh Co. (NYSE:AP) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.66 and traded as high as $1.81. Ampco-Pittsburgh shares last traded at $1.80, with a volume of 20,496 shares.

Analysts Set New Price Targets

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

Ampco-Pittsburgh Trading Up 3.6 %

The company has a market cap of $39.73 million, a PE ratio of -0.88 and a beta of 0.84. The company has a current ratio of 1.98, a quick ratio of 1.02 and a debt-to-equity ratio of 1.72. The business has a 50 day simple moving average of $1.92 and a two-hundred day simple moving average of $1.66.

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

Institutional Investors Weigh In On Ampco-Pittsburgh

A hedge fund recently raised its stake in Ampco-Pittsburgh stock. Renaissance Technologies LLC lifted its holdings in shares of Ampco-Pittsburgh Co. (NYSE:AP) by 12.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 556,396 shares of the industrial products company’s stock after acquiring an additional 62,593 shares during the quarter. Renaissance Technologies LLC owned about 2.80% of Ampco-Pittsburgh worth $428,000 as of its most recent filing with the Securities and Exchange Commission. 49.16% of the stock is owned by hedge funds and other institutional investors.

About Ampco-Pittsburgh

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.