Gladstone Institutional Advisory LLC Reduces Stock Position in AMMO, Inc. (NASDAQ:POWW)

Posted by Defense World Staff on Apr 22nd, 2023

Gladstone Institutional Advisory LLC cut its stake in AMMO, Inc. (NASDAQ:POWW – Get Rating) by 70.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,000 shares of the company’s stock after selling 35,000 shares during the period. Gladstone Institutional Advisory LLC’s holdings in AMMO were worth $26,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Royal Capital Wealth Management LLC grew its position in AMMO by 2.4% in the third quarter. Royal Capital Wealth Management LLC now owns 507,558 shares of the company’s stock worth $1,487,000 after acquiring an additional 11,779 shares during the period. Atom Investors LP purchased a new position in AMMO in the third quarter worth approximately $32,000. Timelo Investment Management Inc. purchased a new position in AMMO in the third quarter worth approximately $147,000. Quantbot Technologies LP purchased a new position in AMMO in the second quarter worth approximately $45,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in AMMO in the third quarter worth approximately $41,000. 32.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on POWW shares. Lake Street Capital lowered their price target on AMMO from $5.00 to $3.00 in a research report on Thursday, February 16th. EF Hutton Acquisition Co. I lowered their price target on AMMO from $6.00 to $3.00 and set a “buy” rating for the company in a research report on Thursday, February 16th.

AMMO Stock Down 1.0 %

POWW opened at $1.97 on Friday. AMMO, Inc. has a 52 week low of $1.56 and a 52 week high of $6.06. The business has a fifty day simple moving average of $1.97 and a 200-day simple moving average of $2.26. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 4.57.

Insider Activity

In related news, COO Jared Rowe Smith acquired 55,000 shares of AMMO stock in a transaction dated Thursday, March 23rd. The shares were acquired at an average cost of $1.60 per share, for a total transaction of $88,000.00. Following the completion of the purchase, the chief operating officer now owns 105,000 shares in the company, valued at $168,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 24.52% of the company’s stock.

AMMO Profile

(Get Rating)

AMMO, Inc designs, produces, and markets ammunition and ammunition component products for sport and recreational shooters, hunters, individuals seeking home or personal protection, manufacturers, and law enforcement and military agencies. The company's products include STREAK Visual Ammunition that enables shooters to see the path of the bullets fired by them; and Stelth Subsonic ammunition primarily for suppressed firearms.