Amplitude, Inc. (NASDAQ:AMPL) Short Interest Up 17.4% in February

Amplitude, Inc. (NASDAQ:AMPL) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 1,960,000 shares, an increase of 17.4% from the February 13th total of 1,670,000 shares. Currently, 2.5% of the shares of the stock are short sold. Based on an average daily volume of 661,300 shares, the days-to-cover ratio is currently 3.0 days.

Insiders Place Their Bets

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 value of $448,000.00. Following the transaction, the director now owns 286,859 shares of the company’s stock, valued at approximately $3,671,795.20. The trade was a 10.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Amplitude

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC purchased a new position in Amplitude during the 4th quarter worth approximately $38,000. Aquatic Capital Management LLC raised its position in Amplitude by 176.5% during the 4th quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company’s stock worth $44,000 after buying an additional 2,647 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Amplitude by 255.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company’s stock worth $75,000 after purchasing an additional 5,100 shares during the period. Summit Investment Advisors Inc. grew its stake in shares of Amplitude by 22.3% during the 4th 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 period. Finally, Meros Investment Management LP acquired a new stake in shares of Amplitude during the 4th quarter worth approximately $102,000. 73.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on AMPL shares. Needham & Company LLC reissued a “buy” rating and issued a $16.00 target price on shares of Amplitude in a report on Tuesday, March 11th. Morgan Stanley upped their price target on shares of Amplitude from $11.00 to $13.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. UBS Group upped their price target on shares of Amplitude from $10.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Piper Sandler upped their price target on shares of Amplitude from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Finally, Citigroup increased their target price on shares of Amplitude from $11.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, February 24th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.00.

Amplitude Trading Up 1.8 %

NASDAQ AMPL opened at $12.16 on Wednesday. The company’s 50-day moving average price is $11.93 and its 200-day moving average price is $10.54. The stock has a market cap of $1.57 billion, a PE ratio of -15.79 and a beta of 1.35. Amplitude has a 12 month low of $7.37 and a 12 month high of $14.88.

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

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.