Amplitude, Inc. (NASDAQ:AMPL) Sees Large Increase in Short Interest

Amplitude, Inc. (NASDAQ:AMPL) was the recipient of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 1,720,000 shares, a growth of 7.5% from the November 15th total of 1,600,000 shares. Based on an average daily volume of 416,000 shares, the short-interest ratio is currently 4.1 days. Currently, 2.3% of the shares of the stock are short sold.

Insiders Place Their Bets

In other news, Director Eric Vishria sold 25,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $10.18, for a total value of $254,500.00. Following the completion of the transaction, the director now directly owns 286,208 shares in the company, valued at approximately $2,913,597.44. This represents a 8.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Amplitude

A number of hedge funds and other institutional investors have recently bought and sold shares of AMPL. Quest Partners LLC bought a new stake in shares of Amplitude during the second quarter valued at about $41,000. Principal Financial Group Inc. purchased a new position in Amplitude during the second quarter valued at approximately $92,000. Intech Investment Management LLC bought a new stake in Amplitude during the 3rd quarter worth approximately $128,000. XTX Topco Ltd purchased a new stake in Amplitude in the 2nd quarter worth approximately $133,000. Finally, MQS Management LLC boosted its holdings in Amplitude by 69.4% in the 2nd quarter. MQS Management LLC now owns 18,617 shares of the company’s stock valued at $166,000 after purchasing an additional 7,625 shares during the period. Institutional investors own 73.20% of the company’s stock.

Amplitude Trading Up 3.2 %

Shares of AMPL stock traded up $0.37 during trading hours on Friday, hitting $11.76. 639,392 shares of the company were exchanged, compared to its average volume of 508,951. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -17.55 and a beta of 1.38. The firm has a fifty day simple moving average of $9.89 and a 200 day simple moving average of $9.02. Amplitude has a 52-week low of $7.37 and a 52-week high of $14.42.

Wall Street Analyst Weigh In

Several brokerages recently commented on AMPL. KeyCorp upgraded Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 target price on the stock in a report on Friday. Robert W. Baird boosted their price target on shares of Amplitude from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Scotiabank increased their price objective on shares of Amplitude from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research report on Friday, November 8th. Finally, Piper Sandler boosted their target price on shares of Amplitude from $9.00 to $11.00 and gave the company a “neutral” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.57.

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.