Amplify Energy Corp. (NYSE:AMPY) Sees Significant Drop in Short Interest

Amplify Energy Corp. (NYSE:AMPY) was the recipient of a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 1,810,000 shares, a drop of 19.6% from the April 30th total of 2,250,000 shares. Currently, 5.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 860,700 shares, the days-to-cover ratio is presently 2.1 days.

Amplify Energy Price Performance

Shares of NYSE:AMPY opened at $2.90 on Monday. Amplify Energy has a twelve month low of $2.27 and a twelve month high of $8.15. The stock’s 50 day moving average is $2.85 and its 200-day moving average is $4.60. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $116.98 million, a price-to-earnings ratio of 1.88 and a beta of 0.37.

Amplify Energy (NYSE:AMPY) last posted its earnings results on Monday, May 12th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). Amplify Energy had a return on equity of 16.22% and a net margin of 20.99%. The business had revenue of $72.05 million during the quarter, compared to analyst estimates of $73.87 million. Sell-side analysts forecast that Amplify Energy will post 1.25 EPS for the current fiscal year.

Insider Buying and Selling at Amplify Energy

In other news, Director Todd R. Snyder acquired 25,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average price of $3.83 per share, with a total value of $95,750.00. Following the acquisition, the director now directly owns 108,416 shares in the company, valued at $415,233.28. The trade was a 29.97% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Deborah G. Adams bought 10,000 shares of the stock in a transaction on Tuesday, March 11th. The stock was purchased at an average cost of $4.14 per share, with a total value of $41,400.00. Following the acquisition, the director now owns 61,961 shares in the company, valued at approximately $256,518.54. This represents a 19.25% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 50,000 shares of company stock valued at $194,900 in the last ninety days. 1.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amplify Energy

A number of hedge funds and other institutional investors have recently modified their holdings of AMPY. Strs Ohio purchased a new stake in Amplify Energy in the first quarter worth $36,000. BNP Paribas Financial Markets bought a new stake in Amplify Energy in the 4th quarter valued at about $38,000. Caption Management LLC purchased a new stake in Amplify Energy during the fourth quarter valued at about $44,000. Focus Partners Wealth purchased a new stake in Amplify Energy during the first quarter valued at about $54,000. Finally, Ancora Advisors LLC purchased a new position in Amplify Energy during the first quarter valued at approximately $56,000. Hedge funds and other institutional investors own 42.84% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AMPY shares. Alliance Global Partners reiterated a “buy” rating on shares of Amplify Energy in a report on Friday, March 7th. Industrial Alliance Securities set a $8.50 price target on shares of Amplify Energy in a research report on Friday, March 7th. Finally, Wall Street Zen raised shares of Amplify Energy from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd.

About Amplify Energy

Amplify Energy Corp., together with its subsidiaries, engages in the acquisition, development, exploitation, and production of oil and natural gas properties in the United States. The company’s properties consist of operated and non-operated working interests in producing and undeveloped leasehold acreage, as well as working interests in identified producing wells located in Oklahoma, the Rockies, federal waters offshore Southern California, East Texas/North Louisiana, and Eagle Ford.