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

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

Insider Activity at Amplitude

In related news, Director Eric Vishria sold 35,000 shares of Amplitude stock in a transaction on Monday, February 24th. The shares were sold at an average price of $12.80, for a total transaction of $448,000.00. Following the transaction, the director now owns 286,859 shares in the company, valued at approximately $3,671,795.20. The trade was a 10.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Amplitude

A number of institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new stake in shares of Amplitude in the fourth quarter valued at $38,000. Aquatic Capital Management LLC raised its position in Amplitude by 176.5% in the 4th quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company’s stock worth $44,000 after purchasing an additional 2,647 shares during the period. Canada Pension Plan Investment Board lifted its stake in Amplitude by 255.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company’s stock worth $75,000 after purchasing an additional 5,100 shares during the last quarter. Summit Investment Advisors Inc. boosted its position in shares of Amplitude by 22.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company’s stock valued at $86,000 after buying an additional 1,492 shares during the period. Finally, Meros Investment Management LP purchased a new position in shares of Amplitude during the fourth quarter valued at approximately $102,000. 73.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AMPL has been the topic of several research analyst reports. Piper Sandler boosted their price objective on Amplitude from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Needham & Company LLC restated a “buy” rating and issued a $16.00 price target on shares of Amplitude in a research note on Tuesday, March 11th. Baird R W upgraded shares of Amplitude from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 20th. DA Davidson reissued a “buy” rating and issued a $16.00 target price on shares of Amplitude in a report on Tuesday, March 11th. Finally, Morgan Stanley raised their target price on shares of Amplitude from $11.00 to $13.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amplitude presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

Amplitude Stock Down 3.4 %

Amplitude stock opened at $10.55 on Friday. Amplitude has a twelve month low of $7.37 and a twelve month high of $14.88. The company’s 50-day moving average price is $12.08 and its 200-day moving average price is $10.67. The company has a market cap of $1.37 billion, a PE ratio of -13.70 and a beta of 1.35.

Amplitude (NASDAQ:AMPL) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.27). The company had revenue of $78.13 million for the quarter, compared to the consensus estimate of $76.68 million. Amplitude had a negative return on equity of 32.24% and a negative net margin of 31.52%. As a group, sell-side analysts expect that Amplitude will post -0.62 earnings per share for the current fiscal year.

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.