AmpliTech Group (NASDAQ:AMPG) Announces Earnings Results

AmpliTech Group (NASDAQ:AMPG) announced its quarterly earnings data on Wednesday. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01), FiscalAI reports. The business had revenue of $5.35 million during the quarter, compared to analysts’ expectations of $5.00 million. AmpliTech Group had a negative net margin of 27.81% and a negative return on equity of 19.98%.

AmpliTech Group Stock Down 7.8%

AmpliTech Group stock traded down $0.21 during midday trading on Wednesday, reaching $2.48. 1,645,497 shares of the stock traded hands, compared to its average volume of 711,501. The stock has a market cap of $62.82 million, a P/E ratio of -7.29 and a beta of -0.57. The stock’s fifty day moving average is $2.26 and its 200-day moving average is $2.85. AmpliTech Group has a 12 month low of $1.64 and a 12 month high of $4.89.

Institutional Trading of AmpliTech Group

Hedge funds have recently modified their holdings of the company. Creek Drive Management Group LLC bought a new position in shares of AmpliTech Group during the 4th quarter valued at approximately $1,196,000. Geode Capital Management LLC lifted its position in AmpliTech Group by 4.2% during the fourth quarter. Geode Capital Management LLC now owns 194,620 shares of the company’s stock valued at $582,000 after purchasing an additional 7,874 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of AmpliTech Group in the 3rd quarter worth $752,000. Corsair Capital Management L.P. increased its holdings in shares of AmpliTech Group by 71.7% in the 4th quarter. Corsair Capital Management L.P. now owns 171,722 shares of the company’s stock worth $513,000 after buying an additional 71,722 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of AmpliTech Group in the 4th quarter worth about $473,000. 10.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMPG has been the topic of several recent analyst reports. Maxim Group decreased their target price 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. Weiss Ratings restated a “sell (d-)” rating on shares of AmpliTech Group in a research note on Monday, April 20th. Finally, Wall Street Zen raised shares of AmpliTech Group from a “sell” rating to a “hold” rating in a report on Sunday, April 12th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company 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.