AmpliTech Group (NASDAQ:AMPG) Stock Price Down 3% - Here's Why

Key Points

• AmpliTech Group shares fell 3% to $2.58 in Friday trading, with volume down 60% from the average daily level. The stock remains below its 50-day and 200-day moving averages of $3.19 and $4.33, respectively.
• Analyst sentiment is mixed but cautious: Wall Street Zen downgraded the stock to “strong sell,” while Weiss Ratings maintained a “sell (D-)” rating. MarketBeat lists a consensus “Hold” rating and an average price target of $7.00.
• The company’s latest quarterly results showed an adjusted loss of $0.12 per share, missing estimates by $0.10, despite revenue of $8.07 million exceeding expectations. AmpliTech reported a negative net margin of 33.37% and negative return on equity of 19.55%.

AmpliTech Group, Inc. (NASDAQ:AMPG - Get Free Report)'s share price traded down 3% during trading on Friday. The company traded as low as $2.56 and last traded at $2.58. Approximately 350,174 shares traded hands during trading, a decline of 60% from the average daily volume of 881,190 shares. The stock had previously closed at $2.66.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wall Street Zen cut AmpliTech Group from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 29th. Weiss Ratings reiterated a "sell (d-)" rating on shares of AmpliTech Group in a report on Thursday, October 15th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $7.00.

AmpliTech Group Trading Down 3.0%

The firm's 50-day simple moving average is $3.19 and its two-hundred day simple moving average is $4.33. The company has a market cap of $77.74 million, a PE ratio of -7.59 and a beta of -0.26.

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

Hedge Funds Weigh In On AmpliTech Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Squarepoint Ops LLC acquired a new stake in AmpliTech Group during the 2nd quarter valued at approximately $119,000. Dimensional Fund Advisors LP boosted its holdings in shares of AmpliTech Group by 156.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 215,548 shares of the company's stock valued at $410,000 after acquiring an additional 131,599 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of AmpliTech Group in the second quarter worth $643,000. Finally, Renaissance Technologies LLC increased its stake in shares of AmpliTech Group by 135.5% in the first quarter. Renaissance Technologies LLC now owns 372,600 shares of the company's stock worth $708,000 after acquiring an additional 214,400 shares during the period. Institutional investors and hedge funds own 10.99% of the company's stock.

About AmpliTech Group

AmpliTech Group, Inc NASDAQ: AMPG designs and manufactures radio-frequency (RF) and microwave components, assemblies, and subsystems. Its products include low-noise amplifiers, power amplifiers, filters, antennas, and other specialized RF equipment used to receive, transmit, and process high-frequency signals.

The company serves markets that require high-performance communications and signal-management equipment, including satellite communications, wireless and 5G infrastructure, defense, aerospace, space, and other commercial applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.