Amplitude, Inc. (NASDAQ:AMPL) Short Interest Up 23.8% in January

Amplitude, Inc. (NASDAQ:AMPL) was the recipient of a significant increase in short interest in January. As of January 31st, there was short interest totalling 1,870,000 shares, an increase of 23.8% from the January 15th total of 1,510,000 shares. Approximately 2.5% of the company’s stock are sold short. Based on an average daily trading volume, of 437,000 shares, the short-interest ratio is currently 4.3 days.

Amplitude Stock Down 4.8 %

AMPL traded down $0.60 on Friday, reaching $11.86. 149,340 shares of the company traded hands, compared to its average volume of 435,013. Amplitude has a one year low of $7.37 and a one year high of $14.40. The firm has a fifty day simple moving average of $11.34 and a two-hundred day simple moving average of $9.89. The company has a market cap of $1.12 billion, a P/E ratio of -17.70 and a beta of 1.37.

Insider Transactions at Amplitude

In related news, Director Eric Vishria sold 3,563 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $12.00, for a total transaction of $42,756.00. Following the transaction, the director now owns 276,208 shares in the company, valued at $3,314,496. This represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Amplitude

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new stake in Amplitude during the 4th quarter valued at about $38,000. Canada Pension Plan Investment Board increased its position in Amplitude by 255.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company’s stock valued at $75,000 after purchasing an additional 5,100 shares during the period. Ameritas Investment Partners Inc. increased its position in Amplitude by 22.3% during the 4th quarter. Ameritas Investment Partners Inc. now owns 8,172 shares of the company’s stock valued at $86,000 after purchasing an additional 1,492 shares during the period. Dark Forest Capital Management LP purchased a new position in Amplitude during the 4th quarter valued at about $121,000. Finally, Intech Investment Management LLC purchased a new position in Amplitude during the 3rd quarter valued at about $128,000. Institutional investors own 73.20% of the company’s stock.

Analyst Upgrades and Downgrades

AMPL has been the topic of a number of research analyst reports. DA Davidson upgraded shares of Amplitude to a “hold” rating in a research report on Monday. Morgan Stanley upgraded shares of Amplitude from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $10.00 to $11.00 in a research report on Monday, January 13th. Piper Sandler upgraded shares of Amplitude from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $11.00 to $15.00 in a research report on Monday, January 6th. Scotiabank increased their price target 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, KeyCorp upgraded shares of Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 price target on the stock in a research report on Friday, December 13th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $12.43.

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.