Kanen Wealth Management LLC Buys New Holdings in AMMO, Inc. (NASDAQ:POWW)

Kanen Wealth Management LLC acquired a new position in AMMO, Inc. (NASDAQ:POWW - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,702,523 shares of the company's stock, valued at approximately $5,109,000. AMMO accounts for approximately 2.0% of Kanen Wealth Management LLC's portfolio, making the stock its 14th largest holding. Kanen Wealth Management LLC owned about 3.12% of AMMO at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. ProShare Advisors LLC grew its holdings in shares of AMMO by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 25,262 shares of the company's stock worth $28,000 after acquiring an additional 8,312 shares during the period. Prudential Financial Inc. bought a new stake in shares of AMMO in the fourth quarter worth $41,000. Intech Investment Management LLC grew its holdings in shares of AMMO by 175.6% in the fourth quarter. Intech Investment Management LLC now owns 42,033 shares of the company's stock worth $46,000 after acquiring an additional 26,783 shares during the period. Royce & Associates LP grew its holdings in AMMO by 35.8% during the fourth quarter. Royce & Associates LP now owns 44,022 shares of the company's stock valued at $48,000 after purchasing an additional 11,614 shares during the period. Finally, Sei Investments Co. bought a new stake in AMMO during the fourth quarter valued at about $69,000. Institutional investors own 26.40% of the company's stock.

AMMO Stock Performance

Shares of POWW stock traded down $0.07 during trading hours on Friday, reaching $1.38. 552,169 shares of the company traded hands, compared to its average volume of 778,398. AMMO, Inc. has a 12-month low of $0.95 and a 12-month high of $2.38. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.17 and a quick ratio of 1.87. The company has a market cap of $163.87 million, a P/E ratio of -6.57 and a beta of 1.16. The firm has a 50-day moving average price of $1.65 and a 200 day moving average price of $1.50.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut AMMO from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th.

AMMO Company Profile

AMMO, Inc designs, produces, and markets ammunition and ammunition component products for sport and recreational shooters, hunters, individuals seeking home or personal protection, manufacturers, and law enforcement and military agencies. The company's products include STREAK Visual Ammunition that enables shooters to see the path of the bullets fired by them; and Stelth Subsonic ammunition primarily for suppressed firearms.