Negative sentiment towards AMPL reflected by a jump of 9.39% in short interest

CHWY Stock
CHWY Stock

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Amplitude Inc. shares valued at $273,587 were sold by HANSEN THOMAS NEERGAARD on May 18. At $9.11 per share, HANSEN THOMAS NEERGAARD sold 30,018 shares. The insider’s holdings dropped to 914,616 shares worth approximately $8.35 million following the completion of this transaction.

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Also, Harms Christopher sold 14,666 shares, netting a total of over 133,667 in proceeds. Following the sale of shares at $9.11 each, the insider now holds 393,391 shares.

Before that, Wong Catherine had sold 3,515 shares from its account. In a trade valued at $31,722, the Director traded Amplitude Inc. shares for $9.02 each. Upon closing the transaction, the insider’s holdings decreased to 3,515 shares, worth approximately $0.88 million.

Analyzing AMPL Stock Performance

On Thursday, Amplitude Inc. [NASDAQ: AMPL] plunged -2.04% to $9.13. The stock’s lowest price that day was $9.01, but it reached a high of $9.49 in the same session. During the last five days, there has been a surge of approximately 0.44%. Over the course of the year, Amplitude Inc. shares have dropped approximately -24.42%. Shares of the company reached a 52-week high of $16.95 on 02/15/23 and a 52-week low of $8.50 on 05/16/23. A 50-day SMA is recorded $11.20, while a 200-day SMA reached $13.67. Nevertheless, trading volume fell to 0.65 million shares from 0.81 million shares the previous day.

Support And Resistance Levels for Amplitude Inc. (AMPL)

According to the 24-hour chart, there is a support level at 8.93, which, if violated, would cause prices to drop to 8.73. In the upper region, resistance lies at 9.41. The next price resistance is at 9.69. RSI (Relative Strength Index) is 33.07 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.59, which suggests the price will decrease in the coming days. Percent R is at 81.47%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Amplitude Inc. subject to short interest?

Stocks of Amplitude Inc. saw a sharp rise in short interest on Apr 27, 2023 jumping by 0.31 million shares to 3.3 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2023 was 2.99 million shares. A jump of 9.39% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 7.15 of the overall float, the days-to-cover ratio (short ratio) jumped to 7.15.

Which companies own the most shares of Amplitude Inc. (AMPL)?

According to The Vanguard Group, Inc. filings, the company currently owns 5,030,595 shares, which is about 6.58% of the total AMPL shares outstanding. The investor’s shares have appreciated by 788,916 from its previous 13-F filing of 4241679.0 shares. With the completion of the buy transaction, T. Rowe Price Investment Manageme’s stake is now worth $50,375,386. A total of -52,621 shares of Amplitude Inc. were bought by Toronado Partners LLC during the quarter, and 69,631 were bought by SSgA Funds Management, Inc. In its current portfolio, Geode Capital Management LLC holds 1,067,529 shares valued at $12.12 million.

In terms of Amplitude Inc. share price expectations, FactSet research, analysts set an average price target of $12.75 in the next 12 months, up nearly 39.48% from the previous closing price of $9.32. Analysts anticipate Amplitude Inc. stock to reach $15.00 by 2023, with the lowest price target being $9.00. In spite of this, 10 analysts ranked Amplitude Inc. stock as a Hold at the end of 2023.


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