Will Ampco-Pittsburgh Corporation (AP) Short Squeeze Soon? The Stock Formed a Double Bottom Pattern

May 17, 2018 - By Hannah Black

Investors sentiment increased to 1.41 in Q4 2017. Its up 0.15, from 1.26 in 2017Q3. It increased, as 8 investors sold Ampco-Pittsburgh Corporation shares while 14 reduced holdings. 7 funds opened positions while 24 raised stakes. 6.89 million shares or 3.13% less from 7.11 million shares in 2017Q3 were reported.
Legal & General Group Plc holds 0% of its portfolio in Ampco-Pittsburgh Corporation (NYSE:AP) for 1,324 shares. Morgan Dempsey Cap Limited Company owns 38,375 shares. Gamco Invsts Inc Et Al accumulated 0.11% or 1.43 million shares. Schwab Charles Invest Mngmt stated it has 18,900 shares or 0% of all its holdings. Dimensional Fund Advisors Ltd Partnership reported 673,086 shares. Bridgeway Cap holds 0.01% of its portfolio in Ampco-Pittsburgh Corporation (NYSE:AP) for 77,399 shares. Philadelphia Trust has 0.16% invested in Ampco-Pittsburgh Corporation (NYSE:AP) for 164,650 shares. Brandywine Global Inv Management Ltd Liability Company invested in 0% or 7,349 shares. California Public Employees Retirement Sys reported 0% stake. Millennium Mgmt Limited Com has invested 0% in Ampco-Pittsburgh Corporation (NYSE:AP). Clarivest Asset Management Limited Liability Corp stated it has 15,399 shares or 0% of all its holdings. Walthausen & Ltd Limited Liability Company invested 0.34% of its portfolio in Ampco-Pittsburgh Corporation (NYSE:AP). Rbf Capital Limited Co stated it has 50,656 shares or 0.07% of all its holdings. Boston Prtn stated it has 0% of its portfolio in Ampco-Pittsburgh Corporation (NYSE:AP). Moreover, Northern has 0% invested in Ampco-Pittsburgh Corporation (NYSE:AP) for 104,285 shares.

Since January 29, 2018, it had 0 buys, and 34 selling transactions for $1.56 million activity.

The chart of Ampco-Pittsburgh Corporation (AP) shows a double bottom with $9.31 target or 4.00 % below today’s $9.70 share price. The 5 months chart pattern indicates high risk for the $119.91 million company. It was reported on May, 17 by Finviz.com. If the $9.31 price target is reached, the company will be worth $4.80 million less. Double bottoms are rare but powerful chart patterns.

The stock decreased 2.02% or $0.2 during the last trading session, reaching $9.7. About 9,212 shares traded. Ampco-Pittsburgh Corporation (NYSE:AP) has declined 34.18% since May 17, 2017 and is downtrending. It has underperformed by 45.73% the S&P500.

Analysts await Ampco-Pittsburgh Corporation (NYSE:AP) to report earnings on August, 14. They expect $0.09 EPS, up 156.25 % or $0.25 from last year’s $-0.16 per share. AP’s profit will be $1.11 million for 26.94 P/E if the $0.09 EPS becomes a reality. After $0.08 actual EPS reported by Ampco-Pittsburgh Corporation for the previous quarter, Wall Street now forecasts 12.50 % EPS growth.

Ampco-Pittsburgh Corporation, together with its subsidiaries, makes and sells custom designed engineering products to commercial and industrial users worldwide. The company has market cap of $119.91 million. It operates in two divisions, Forged and Cast Engineered Products, and Air and Liquid Processing. It currently has negative earnings. The Forged and Cast Engineered Products segment produces forged hardened steel rolls that are used in cold rolling by producers of steel, aluminum, and other metals; ingot and open die forged products for use in the gas and oil, and the aluminum and plastic extrusion industries; and cast rolls for hot and cold strip mills, medium/heavy section mills, and plate mills in various iron and steel qualities.

Ampco-Pittsburgh Corporation (NYSE:AP) Institutional Positions Chart

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