Integrated Wealth Concepts LLC Trims Stake in AmpliTech Group, Inc. $AMPG

Key Points

• Integrated Wealth Concepts LLC cut its AmpliTech Group stake by 83.3% in the second quarter, selling 354,075 shares and retaining 70,735 shares worth approximately $492,000.
• AMPG shares opened at $3.39, below their 50-day and 200-day moving averages. The company reported a quarterly loss of $0.12 per share, missing estimates by $0.10, despite revenue of $8.07 million.
• Analyst sentiment is mixed but leans cautious: AmpliTech has a consensus “Hold” rating and a $7.00 average price target, while recent coverage included “Sell” and “Strong Sell” recommendations.

Integrated Wealth Concepts LLC reduced its position in AmpliTech Group, Inc. (NASDAQ:AMPG - Free Report) by 83.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,735 shares of the company's stock after selling 354,075 shares during the quarter. Integrated Wealth Concepts LLC owned about 0.24% of AmpliTech Group worth $492,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AMPG. Legato Capital Management LLC lifted its stake in shares of AmpliTech Group by 26.8% in the 4th quarter. Legato Capital Management LLC now owns 20,675 shares of the company's stock worth $62,000 after acquiring an additional 4,376 shares during the period. Squarepoint Ops LLC purchased a new position in AmpliTech Group during the second quarter worth about $119,000. Dimensional Fund Advisors LP raised its holdings in AmpliTech Group by 156.8% during the first quarter. Dimensional Fund Advisors LP now owns 215,548 shares of the company's stock worth $410,000 after purchasing an additional 131,599 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in AmpliTech Group in the second quarter valued at about $643,000. Finally, Renaissance Technologies LLC lifted its position in AmpliTech Group by 135.5% in the first quarter. Renaissance Technologies LLC now owns 372,600 shares of the company's stock valued at $708,000 after purchasing an additional 214,400 shares during the period. 10.99% of the stock is currently owned by hedge funds and other institutional investors.

AmpliTech Group Stock Down 0.3%

Shares of AMPG opened at $3.39 on Tuesday. The company's fifty day moving average is $4.52 and its two-hundred day moving average is $4.26. AmpliTech Group, Inc. has a fifty-two week low of $1.64 and a fifty-two week high of $10.11. The firm has a market cap of $101.84 million, a PE ratio of -9.97 and a beta of -0.22.

AmpliTech Group (NASDAQ:AMPG - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.10). The company had revenue of $8.07 million during the quarter, compared to analysts' expectations of $8.00 million. AmpliTech Group had a negative return on equity of 19.55% and a negative net margin of 33.37%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on AMPG shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of AmpliTech Group in a research note on Friday, July 17th. Wall Street Zen lowered shares of AmpliTech Group from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, AmpliTech Group presently has a consensus rating of "Hold" and an average target price of $7.00.

AmpliTech Group Company Profile

AmpliTech Group, Inc develops and manufactures radio-frequency (RF) and microwave components, subassemblies and related systems. Its product portfolio includes low-noise amplifiers, power amplifiers, filters, antennas and integrated RF assemblies designed to support demanding communications and electronic systems.

The company serves markets including satellite communications, telecommunications, aerospace and defense, space applications, industrial technology and quantum computing. Its products are used in applications such as signal reception and transmission, 5G infrastructure, satellite ground stations, radar and other high-frequency communications equipment.

AmpliTech Group was founded in 2002 and is headquartered in Bohemia, New York.

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