Ampco-Pittsburgh Corp (NYSE:AP) saw a large decline in short interest in November. As of November 15th, there was short interest totalling 200,600 shares, a decline of 5.4% from the October 31st total of 212,100 shares. Approximately 2.3% of the shares of the stock are short sold. Based on an average daily volume of 19,200 shares, the short-interest ratio is presently 10.4 days.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Alambic Investment Management L.P. lifted its holdings in Ampco-Pittsburgh by 4.1% in the 2nd quarter. Alambic Investment Management L.P. now owns 127,554 shares of the industrial products company’s stock worth $514,000 after purchasing an additional 5,072 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Ampco-Pittsburgh by 9.4% in the 2nd quarter. Renaissance Technologies LLC now owns 477,024 shares of the industrial products company’s stock worth $1,922,000 after purchasing an additional 41,000 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Ampco-Pittsburgh by 154.7% in the 2nd quarter. Vanguard Group Inc. now owns 630,648 shares of the industrial products company’s stock worth $2,542,000 after purchasing an additional 383,042 shares in the last quarter. 46.99% of the stock is currently owned by institutional investors.

Separately, ValuEngine raised Ampco-Pittsburgh from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th.

NYSE AP opened at $3.39 on Tuesday. The stock’s 50 day moving average is $3.70 and its 200 day moving average is $3.88. The company has a current ratio of 1.53, a quick ratio of 0.85 and a debt-to-equity ratio of 0.98. Ampco-Pittsburgh has a 12 month low of $2.79 and a 12 month high of $4.92. The stock has a market cap of $43.20 million, a PE ratio of -3.57 and a beta of 1.17.

Ampco-Pittsburgh Company Profile

Ampco-Pittsburgh Corporation, together with its subsidiaries, manufactures and sells custom designed engineering products to commercial and industrial users in the United States and internationally. The company operates in two segments, Forged and Cast Engineered Products; and Air and Liquid Processing.

Further Reading: When can a hold rating present a buying opportunity?

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