Ampco-Pittsburgh (NYSE:AP) Stock Passes Above 200-Day Moving Average – Here’s Why

Shares of Ampco-Pittsburgh Co. (NYSE:AP) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.65 and traded as high as $1.77. Ampco-Pittsburgh shares last traded at $1.72, with a volume of 27,130 shares trading hands.

Analyst Ratings Changes

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

Ampco-Pittsburgh Trading Down 2.8 %

The firm has a market cap of $34.17 million, a PE ratio of -0.78 and a beta of 0.84. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.98 and a quick ratio of 1.02. The stock’s fifty day simple moving average is $1.92 and its 200-day simple moving average is $1.65.

Ampco-Pittsburgh (NYSE:AP) last released its earnings results on Monday, August 12th. The industrial products company reported $0.10 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 during the quarter.

Hedge Funds Weigh In On Ampco-Pittsburgh

A hedge fund recently raised its stake in Ampco-Pittsburgh stock. Renaissance Technologies LLC increased its holdings in Ampco-Pittsburgh Co. (NYSE:AP) by 12.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 556,396 shares of the industrial products company’s stock after purchasing an additional 62,593 shares during the quarter. Renaissance Technologies LLC owned 2.80% of Ampco-Pittsburgh worth $428,000 at the end of the most recent reporting period. Institutional investors own 49.16% of the company’s stock.

Ampco-Pittsburgh Company Profile

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.