Short Interest in Amplitude, Inc. (NASDAQ:AMPL) Grows By 60.7%

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

Amplitude Trading Down 3.4 %

Shares of AMPL stock opened at $10.55 on Friday. The company’s fifty day moving average price is $12.08 and its 200-day moving average price is $10.67. The stock has a market cap of $1.37 billion, a PE ratio of -13.70 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 announced its earnings results on Wednesday, February 19th. The company reported ($0.26) earnings per share 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 for the quarter, compared to the consensus estimate of $76.68 million. On average, sell-side analysts forecast that Amplitude will post -0.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AMPL has been the topic of a number of analyst reports. DA Davidson restated a “buy” rating and issued a $16.00 price objective on shares of Amplitude in a research report on Tuesday, March 11th. Bank of America raised their target price on Amplitude from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Baird R W raised Amplitude from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 price objective on shares of Amplitude in a research report on Tuesday, March 11th. Finally, Citigroup boosted their target price on Amplitude from $11.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, February 24th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Amplitude has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Insiders Place Their Bets

In other news, Director Eric Vishria sold 3,563 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $12.00, for a total value of $42,756.00. Following the transaction, the director now owns 276,208 shares in the company, valued at approximately $3,314,496. This trade represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Amplitude

Several institutional investors and hedge funds have recently modified their holdings of AMPL. Barclays PLC raised its position in Amplitude by 371.7% in the 3rd quarter. Barclays PLC now owns 128,537 shares of the company’s stock worth $1,153,000 after buying an additional 101,289 shares during the last quarter. M&T Bank Corp grew its stake in shares of Amplitude by 86.8% in the third quarter. M&T Bank Corp now owns 156,688 shares of the company’s stock worth $1,405,000 after acquiring an additional 72,806 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Amplitude by 38.9% during the third quarter. JPMorgan Chase & Co. now owns 84,050 shares of the company’s stock valued at $754,000 after purchasing an additional 23,526 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Amplitude by 4.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 683,405 shares of the company’s stock worth $7,210,000 after purchasing an additional 31,800 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Amplitude in the 4th quarter worth $252,000. 73.20% of the stock is currently owned by institutional investors.

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.