Amplify Energy Corp. (NYSE:AMPY) Short Interest Up 13.5% in April

Key Points

• Short interest up 13.5% — Short interest rose to 2,641,957 shares as of April 15 (up 13.5% from March 31), about 7.1% of the stock and a 2.8 days-to-cover.
• Significant insider selling — Director Clint D. Coghill sold 501,279 shares for roughly $3.22 million on March 16; insiders have sold 1,000,000 shares in the past three months and now own 10.30% of the company.
• Earnings miss and mixed analyst view — Amplify reported EPS of ($0.24) and revenue below estimates, while analysts rate the stock a "Moderate Buy" with an average price target of $6.00.

Amplify Energy Corp. (NYSE:AMPY - Get Free Report) was the target of a large growth in short interest in the month of April. As of April 15th, there was short interest totaling 2,641,957 shares, a growth of 13.5% from the March 31st total of 2,327,142 shares. Based on an average daily volume of 944,466 shares, the days-to-cover ratio is presently 2.8 days. Approximately 7.1% of the company's stock are sold short.

Amplify Energy Price Performance

AMPY stock opened at $6.43 on Friday. The stock has a market capitalization of $265.29 million, a P/E ratio of 6.56 and a beta of -0.16. The business has a 50-day moving average of $5.97 and a 200-day moving average of $5.30. Amplify Energy has a fifty-two week low of $2.56 and a fifty-two week high of $6.79.

Amplify Energy (NYSE:AMPY - Get Free Report) last announced its earnings results on Monday, March 9th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.45). The firm had revenue of $56.55 million during the quarter, compared to analyst estimates of $71.07 million. Amplify Energy had a net margin of 16.69% and a negative return on equity of 4.10%.

Analyst Ratings Changes

AMPY has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Amplify Energy from a "sell" rating to a "hold" rating in a report on Saturday, March 14th. Weiss Ratings upgraded shares of Amplify Energy from a "sell (d+)" rating to a "hold (c)" rating in a report on Thursday, March 12th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Amplify Energy has an average rating of "Moderate Buy" and an average price target of $6.00.

Insider Activity

In related news, Director Clint D. Coghill sold 501,279 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $6.42, for a total transaction of $3,218,211.18. Following the completion of the sale, the director directly owned 2,746,836 shares of the company's stock, valued at approximately $17,634,687.12. This represents a 15.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 1,000,000 shares of company stock valued at $6,454,822. 10.30% of the stock is currently owned by insiders.

Institutional Trading of Amplify Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Thomist Capital Management LP boosted its holdings in Amplify Energy by 109.8% during the fourth 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. 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 valued at $5,712,000 after purchasing an additional 450,000 shares in the last quarter. Marshall Wace LLP increased its stake in Amplify Energy by 76.4% in the 4th quarter. Marshall Wace LLP now owns 954,725 shares of the company's stock valued at $4,363,000 after buying an additional 413,512 shares during the last quarter. Walleye Capital LLC increased its stake in Amplify Energy by 483.1% in the 4th quarter. Walleye Capital LLC now owns 462,247 shares of the company's stock valued at $2,112,000 after buying an additional 382,969 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Amplify Energy by 716.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 234,305 shares of the company's stock worth $750,000 after buying an additional 205,606 shares in the last quarter. 42.84% of the stock is currently 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.

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