Short Interest in Amplitude, Inc. (NASDAQ:AMPL) Drops By 14.2%

Amplitude, Inc. (NASDAQ:AMPL) was the recipient of a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 2,660,000 shares, a decrease of 14.2% from the September 15th total of 3,100,000 shares. Currently, 3.7% of the shares of the company are short sold. Based on an average daily volume of 523,400 shares, the days-to-cover ratio is currently 5.1 days.

Amplitude Trading Up 1.4 %

Shares of AMPL stock traded up $0.12 during trading hours on Monday, hitting $8.65. The company’s stock had a trading volume of 105,765 shares, compared to its average volume of 527,142. Amplitude has a twelve month low of $7.37 and a twelve month high of $14.42. The business has a fifty day moving average of $8.62 and a 200-day moving average of $8.96. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of -12.54 and a beta of 1.33.

Amplitude (NASDAQ:AMPL) last issued its earnings results on Thursday, August 8th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.18). Amplitude had a negative net margin of 28.19% and a negative return on equity of 27.58%. The business had revenue of $73.30 million during the quarter, compared to analysts’ expectations of $71.98 million. During the same period in the prior year, the business posted ($0.17) EPS. The business’s revenue was up 8.2% on a year-over-year basis. On average, equities analysts expect that Amplitude will post -0.65 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Piper Sandler reduced their target price on shares of Amplitude from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Friday, July 12th. UBS Group lowered their target price on shares of Amplitude from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Finally, Robert W. Baird lowered their target price on shares of Amplitude from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $10.33.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AMPL. Headlands Technologies LLC acquired a new position in shares of Amplitude during the first quarter valued at $32,000. Quest Partners LLC acquired a new position in shares of Amplitude during the second quarter valued at $41,000. Russell Investments Group Ltd. acquired a new position in shares of Amplitude during the first quarter valued at $45,000. Principal Financial Group Inc. acquired a new position in shares of Amplitude during the second quarter valued at $92,000. Finally, ANTIPODES PARTNERS Ltd bought a new position in Amplitude during the first quarter valued at about $95,000. 73.20% of the stock is currently owned by institutional investors.

About Amplitude

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.