Amplitude, Inc. (NASDAQ:AMPL) Short Interest Update

Amplitude, Inc. (NASDAQ:AMPL) saw a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 3,150,000 shares, an increase of 60.7% from the February 28th total of 1,960,000 shares. Based on an average trading volume of 770,700 shares, the days-to-cover ratio is presently 4.1 days. Currently, 4.1% of the company’s shares are short sold.

Amplitude Price Performance

NASDAQ:AMPL opened at $10.55 on Friday. The firm has a 50-day moving average of $12.08 and a two-hundred day moving average of $10.69. The stock has a market cap of $1.37 billion, a P/E ratio of -13.70 and a beta of 1.35. Amplitude has a 1-year low of $7.37 and a 1-year high of $14.88.

Amplitude (NASDAQ:AMPL) last issued its quarterly earnings results on Wednesday, February 19th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.27). Amplitude had a negative net margin of 31.52% and a negative return on equity of 32.24%. The business had revenue of $78.13 million during the quarter, compared to analysts’ expectations of $76.68 million. As a group, equities analysts expect that Amplitude will post -0.62 earnings per share for the current year.

Insider Activity

In other news, Director Eric Vishria sold 35,000 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $12.80, for a total transaction of $448,000.00. Following the completion of the sale, the director now directly owns 286,859 shares of the company’s stock, valued at $3,671,795.20. The trade was a 10.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.80% of the company’s stock.

Institutional Trading of Amplitude

A number of hedge funds have recently made changes to their positions in AMPL. Headlands Technologies LLC acquired a new stake in Amplitude in the fourth quarter valued at $38,000. Aquatic Capital Management LLC increased its position in shares of Amplitude by 176.5% in the 4th quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company’s stock worth $44,000 after purchasing an additional 2,647 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Amplitude by 255.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company’s stock valued at $75,000 after purchasing an additional 5,100 shares in the last quarter. Summit Investment Advisors Inc. lifted its position in shares of Amplitude by 22.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company’s stock worth $86,000 after purchasing an additional 1,492 shares during the last quarter. Finally, Meros Investment Management LP acquired a new position in Amplitude in the fourth quarter worth about $102,000. Institutional investors and hedge funds own 73.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AMPL. DA Davidson reissued a “buy” rating and set a $16.00 price target on shares of Amplitude in a research report on Tuesday, March 11th. Bank of America increased their target price on shares of Amplitude from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. UBS Group lifted their price target on shares of Amplitude from $10.00 to $13.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Piper Sandler increased their price objective on shares of Amplitude from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Finally, Needham & Company LLC restated a “buy” rating and set a $16.00 target price on shares of Amplitude in a report on Tuesday, March 11th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Amplitude currently has a consensus rating of “Moderate Buy” and an average price target of $15.00.

Amplitude Company Profile

Amplitude, Inc, together with its subsidiaries, provides a digital analytics platform that analyzes customer behavior in the United States and internationally. It offers Amplitude Analytics, which provides real-time product data and reconstructed user visits; Amplitude Experiment, a solution that allows teams to test new capabilities and safely roll out new features; Amplitude CDP, an insight-driven solution that encompasses the data infrastructure, audience management, and data streaming capabilities; and Amplitude Session Replay used by product, marketing, and data teams to understand user behavior, diagnose product issues, and improve product outcomes.