Ardagh Metal Packaging S.A. (NYSE:AMBP) Sees Significant Growth in Short Interest

Ardagh Metal Packaging S.A. (NYSE:AMBP) saw a significant increase in short interest in January. As of January 30th, there was short interest totaling 3,942,146 shares, an increase of 20.8% from the January 15th total of 3,264,242 shares. Approximately 0.7% of the company’s stock are sold short. Based on an average trading volume of 1,003,736 shares, the short-interest ratio is currently 3.9 days. Based on an average trading volume of 1,003,736 shares, the short-interest ratio is currently 3.9 days. Approximately 0.7% of the company’s stock are sold short.

Hedge Funds Weigh In On Ardagh Metal Packaging

A number of hedge funds and other institutional investors have recently made changes to their positions in AMBP. Hillsdale Investment Management Inc. bought a new stake in Ardagh Metal Packaging in the 2nd quarter valued at about $2,923,000. Russell Investments Group Ltd. boosted its position in Ardagh Metal Packaging by 538.5% during the second quarter. Russell Investments Group Ltd. now owns 645,792 shares of the company’s stock worth $2,764,000 after purchasing an additional 544,652 shares during the period. CWM LLC increased its stake in shares of Ardagh Metal Packaging by 9.6% in the second quarter. CWM LLC now owns 40,104 shares of the company’s stock worth $172,000 after purchasing an additional 3,523 shares in the last quarter. Walleye Capital LLC raised its position in shares of Ardagh Metal Packaging by 300.4% in the second quarter. Walleye Capital LLC now owns 450,523 shares of the company’s stock valued at $1,928,000 after purchasing an additional 337,992 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Ardagh Metal Packaging during the 2nd quarter valued at approximately $2,031,000. 16.93% of the stock is owned by hedge funds and other institutional investors.

Ardagh Metal Packaging Trading Down 0.5%

Shares of AMBP opened at $4.78 on Thursday. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of -478.40, a PEG ratio of 1.07 and a beta of 0.56. The stock has a 50 day moving average of $4.38 and a 200 day moving average of $3.95. Ardagh Metal Packaging has a 12 month low of $2.53 and a 12 month high of $5.03.

Analysts Set New Price Targets

AMBP has been the subject of a number of recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Ardagh Metal Packaging in a report on Wednesday, January 21st. Morgan Stanley set a $4.30 target price on Ardagh Metal Packaging in a research report on Thursday, January 8th. Truist Financial upped their price target on Ardagh Metal Packaging from $4.00 to $5.00 and gave the stock a “hold” rating in a report on Tuesday, January 6th. Finally, UBS Group raised their price objective on Ardagh Metal Packaging from $4.00 to $4.25 and gave the company a “neutral” rating in a research note on Monday, January 12th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $4.51.

Ardagh Metal Packaging Company Profile

Ardagh Metal Packaging (NYSE: AMBP) is a global supplier of metal packaging solutions, specializing in the production of steel and aluminum beverage cans, food cans and ends. As a segment of the Ardagh Group, the company supports a broad range of food and beverage customers, including soft drink and craft beer producers, as well as food manufacturers requiring durable, recyclable packaging. Its product portfolio encompasses two‐piece and three‐piece cans, a variety of can ends and closures, and value‐added services such as custom lithography and decorating.

The company operates a network of manufacturing plants across North America and Europe, serving both regional and multinational clients.