Amplify Energy (NYSE:AMPY) Stock Price Down 2.8% – Time to Sell?

Shares of Amplify Energy Corp. (NYSE:AMPY) were down 2.8% during mid-day trading on Monday . The company traded as low as $5.49 and last traded at $5.55. Approximately 863,234 shares changed hands during mid-day trading, an increase of 58% from the average daily volume of 546,904 shares. The stock had previously closed at $5.71.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Amplify Energy in a research note on Monday, December 29th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $7.25.

Amplify Energy Price Performance

The business has a 50-day simple moving average of $4.89 and a two-hundred day simple moving average of $4.77. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $224.66 million, a price-to-earnings ratio of -7.82 and a beta of -0.05.

Institutional Investors Weigh In On Amplify Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Thomist Capital Management LP grew its stake in shares of Amplify Energy by 109.8% in the 4th quarter. Thomist Capital Management LP now owns 3,147,130 shares of the company’s stock worth $14,571,000 after purchasing an additional 1,647,130 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Amplify Energy by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,080,268 shares of the company’s stock valued at $9,507,000 after purchasing an additional 8,154 shares during the last quarter. American Century Companies Inc. boosted its holdings in Amplify Energy by 9.0% during the second quarter. American Century Companies Inc. now owns 1,313,218 shares of the company’s stock worth $4,202,000 after buying an additional 108,850 shares in the last quarter. Truffle Hound Capital LLC grew its position in Amplify Energy by 56.3% in the fourth quarter. Truffle Hound Capital LLC now owns 1,250,000 shares of the company’s stock worth $5,712,000 after buying an additional 450,000 shares during the last quarter. Finally, CSM Advisors LLC acquired a new position in Amplify Energy in the second quarter worth approximately $3,520,000. 42.84% of the stock is owned by institutional investors and hedge funds.

About Amplify Energy

Amplify Energy Corp (NYSE: AMPY) is an independent upstream energy company focused on the exploration, development and production of crude oil and natural gas resources in the United States. The company’s operations emphasize both conventional and unconventional plays, combining onshore and offshore activities. Amplify Energy applies advanced reservoir management techniques and disciplined capital allocation to identify and develop reserves with attractive economics while managing commodity price exposure through targeted risk strategies.

The company’s asset portfolio is concentrated along the U.S.