Ampco-Pittsburgh (NYSE:AP) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Shares of Ampco-Pittsburgh Co. (NYSE:AP) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.93 and traded as high as $2.59. Ampco-Pittsburgh shares last traded at $2.43, with a volume of 9,069 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Ampco-Pittsburgh in a report on Thursday. They issued a “hold” rating for the company.

Ampco-Pittsburgh Stock Performance

The company has a market capitalization of $48.83 million, a PE ratio of -1.08 and a beta of 0.95. The company has a current ratio of 1.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.57. The business’s fifty day moving average is $2.18 and its two-hundred day moving average is $1.93.

Ampco-Pittsburgh (NYSE:AP) last released its quarterly earnings data on Tuesday, November 12th. The industrial products company reported ($0.10) EPS for the quarter. Ampco-Pittsburgh had a negative net margin of 10.46% and a negative return on equity of 63.13%. The business had revenue of $96.17 million for the quarter.

Institutional Trading of Ampco-Pittsburgh

Several large investors have recently modified their holdings of AP. State Street Corp boosted its stake in shares of Ampco-Pittsburgh by 92.7% during the 3rd quarter. State Street Corp now owns 74,216 shares of the industrial products company’s stock worth $148,000 after acquiring an additional 35,700 shares during the last quarter. Geode Capital Management LLC increased its position in Ampco-Pittsburgh by 38.5% in the third quarter. Geode Capital Management LLC now owns 152,111 shares of the industrial products company’s stock worth $304,000 after buying an additional 42,305 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Ampco-Pittsburgh by 12.7% in the second quarter. Renaissance Technologies LLC now owns 556,396 shares of the industrial products company’s stock worth $428,000 after buying an additional 62,593 shares during the period. Institutional investors own 49.16% of the company’s stock.

About Ampco-Pittsburgh

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.