Otonomo (OTMO) & Amplify (AMPY): Two trending stocks on Monday  

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Otonomo (OTMO) & Amplify (AMPY): Two trending stocks on Monday  

 Otonomo (OTMO) & Amplify (AMPY): Two trending stocks on Monday  
Image source: Joyseulay, Shutterstock

Highlights

  • The Otonomo Technologies Ltd. (NASDAQ: OTMO) stock rose over 16% in pre-market trading on Oct. 4.

  • The revenue of Amplify Energy Corp. (NYSE: AMPY) rose to US$80.39 million in Q2, FY21, from US$72.46 million in the previous quarter.

  • The AMPY’s stock price of jumped more than 54 percent in one month but fell around 57 percent in the premarket session on Monday.

Stocks of Otonomo Technologies Ltd. (NASDAQ: OTMO) and Amplify Energy Corp. (NYSE: AMPY) were catching the attention of Wall Street investors on Monday. The former rose by over 16 percent, while the latter plunged around 57 percent in the pre-market session.

OTMO stock was priced at US$5.70, up 16.33 percent, while AMPY traded at US$2.44, down 57.57 percent, at around 8:55 am ET from their previous closing prices.

Let's take a closer look at the companies' stock performances.

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Otonomo Technologies Ltd. (NASDAQ: OTMO)


Otonomo Technologies is a business services company that provides a data exchange and marketplace platform for cars. The Israel-based company allows vehicle manufacturers, app developers, and other related service providers to exchange car-generated data.

OTMO rallied after a Wall Street analyst gave a bullish rating to the stock while suggesting that it may help other firms like equipment makers, car investment firms, etc., to increase their revenue. Otonomo’s market cap is US$703.55 million and a forward P/E one year of -30.63.

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The stock’s 52-week highest and lowest prices were US$9.48 and US$4.30, respectively. Its trading volume was 44,486 on October 1. On August 24, the company announced the appointment of two additional board members Jonathan Huberman and Vered Raviv Schwarz.

Trending stocks: OTMO and AMPY

Source: pixabay

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Amplify Energy Corp. (NYSE: AMPY)


Amplify Energy is a Houston, Texas-based oil-and-natural-gas company. It has interests in acquiring, developing, and producing oil and natural gas properties in the US.

The stock fell after the news of spillage at the company's offshore platform off Orange County, California, over the weekend. On Sunday, the officials said they were trying to reduce the damage from the spill, expected to be around 126,000 gallons and extended from Newport Beach to Huntington Beach, or around six miles.

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Amplify’s market cap is US$119.29 million, and the forward P/E one year is 7.01. Its EPS is US$-2.90. The stock’s 52-week highest and lowest prices were US$5.78 and US$0.62, respectively. Amplify’s share volume on October 1 was 1,152,796.

In addition, Amplify’s total revenue in Q2, FY21, was US$80.39 million, compared to US$72.46 million in the previous quarter. It reported a net loss of US$35.02 million, or US$0.92 per share, against a loss of US$19.32 million, or US$0.51 per share in the Q1, FY21.

Also Read: US markets close higher as tech, energy stocks gain

Bottomline

The Otonomo stock has been volatile in recent months. It dropped by more than 34.6 percent in September, mainly after announcing its strategic partnership with LeasePlan USA. On the other hand, Amplify Energy stock jumped 54.16 percent over the past month. However, investors should evaluate the companies carefully before investing in stocks.

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