AmpliTech Group, Inc. (NASDAQ:AMPG) Sees Significant Decline in Short Interest

AmpliTech Group, Inc. (NASDAQ:AMPG) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 53,300 shares, a decline of 24.1% from the October 15th total of 70,200 shares. Based on an average daily trading volume, of 49,500 shares, the days-to-cover ratio is currently 1.1 days. Approximately 0.7% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Maxim Group lowered their target price on AmpliTech Group from $6.00 to $5.00 and set a “buy” rating for the company in a report on Monday, September 16th.

AmpliTech Group Price Performance

Shares of NASDAQ AMPG opened at $0.90 on Friday. The company has a 50 day simple moving average of $0.87 and a 200 day simple moving average of $1.12. AmpliTech Group has a 1 year low of $0.64 and a 1 year high of $2.55. The firm has a market cap of $9.98 million, a PE ratio of -1.13 and a beta of 0.46.

AmpliTech Group (NASDAQ:AMPG) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.04). The business had revenue of $2.53 million during the quarter. AmpliTech Group had a negative net margin of 62.54% and a negative return on equity of 31.64%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in AmpliTech Group stock. Bard Associates Inc. grew its stake in AmpliTech Group, Inc. (NASDAQ:AMPG) by 374.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,989,414 shares of the company’s stock after buying an additional 1,569,794 shares during the period. Bard Associates Inc. owned 17.94% of AmpliTech Group worth $1,552,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 10.99% of the company’s stock.

About AmpliTech Group

AmpliTech Group, Inc designs, engineers, and assembles micro-wave component-based amplifiers. The company’s products include radio frequency (RF) amplifiers and related subsystems, such as low noise amplifiers for use in receivers of various communication systems comprising Wi-Fi, radar, satellite, base station, cell phone, radio, etc.; and medium power amplifiers that provide enhanced output power and gain in transceiver chains.