Ampco-Pittsburgh (NYSE:AP) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Shares of Ampco-Pittsburgh Co. (NYSE:AP) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.66 and traded as high as $1.81. Ampco-Pittsburgh shares last traded at $1.80, with a volume of 20,496 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Ampco-Pittsburgh from a “sell” rating to a “hold” rating in a research note on Tuesday, August 13th.

Ampco-Pittsburgh Stock Down 1.6 %

The company has a market cap of $35.76 million, a price-to-earnings ratio of -0.82 and a beta of 0.84. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.98 and a quick ratio of 1.02. The firm has a 50-day moving average price of $1.92 and a 200 day moving average price of $1.66.

Ampco-Pittsburgh (NYSE:AP) last posted its quarterly earnings data on Monday, August 12th. The industrial products company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. Ampco-Pittsburgh had a negative net margin of 9.67% and a negative return on equity of 51.75%. The firm had revenue of $110.99 million during the quarter.

Hedge Funds Weigh In On Ampco-Pittsburgh

A hedge fund recently raised its stake in Ampco-Pittsburgh stock. Renaissance Technologies LLC lifted its stake in shares of Ampco-Pittsburgh Co. (NYSE:AP) by 12.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 556,396 shares of the industrial products company’s stock after buying an additional 62,593 shares during the period. Renaissance Technologies LLC owned about 2.80% of Ampco-Pittsburgh worth $428,000 as of its most recent SEC filing. Institutional investors and hedge funds own 49.16% of the company’s stock.

Ampco-Pittsburgh Company Profile

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.