Is AMMO (POWW) a Fundamentally Strong Company?

Investment management company Ave Maria recently released its “Ave Maria Focused Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. At the end of the third quarter, the fund returned -13.13% compared to a -0.75% return for the S&P MidCap 400 Growth Index and -4.88% return for the S&P 500 Index. You can check the top 5 holdings of the fund to know its best picks in 2022.

Ave Maria highlighted stocks like AMMO, Inc. (NASDAQ:POWW) in its Q3 2022 investor letter. Based in Scottsdale, Arizona, AMMO, Inc. (NASDAQ:POWW) manufacturers ammunition and ammunition component products. On January 4, 2023, AMMO, Inc. (NASDAQ:POWW) stock closed at $ 1.8800 per share. One-month return of AMMO, Inc. (NASDAQ:POWW) was -2.59%, and its shares lost 63.42% of their value over the last 52 weeks. AMMO, Inc. (NASDAQ:POWW) has a market capitalization of $220.806 million.

Ave Maria made the following comment about AMMO, Inc. (NASDAQ:POWW) in its Q3 2022 investor letter:

“Aside from the story stocks, several of our companies are making excellent fundamental progress. AMMO, Inc. (NASDAQ:POWW) designs and manufactures ammunition and components for hunters, law enforcement and military agencies. The largest shareholder of AMMO is undertaking an activist campaign to replace the current board and management. We expect him to win the proxy contest and institute changes to enhance shareholder value.”

gun, weapon, world, gun, war, combat, clips, bullets, death, springfield, soldiers, army, ammo, powder, brass, primers, sport, rifles

Audrey Snider-Bell/Shutterstock.com

AMMO, Inc. (NASDAQ:POWW) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 9 hedge fund portfolios held AMMO, Inc. (NASDAQ:POWW) at the end of the third quarter, which was 9 in the previous quarter.

We discussed AMMO, Inc. (NASDAQ:POWW) in another article and shared the biggest gun and ammunition companies in the world. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

Disclosure: None. This article is originally published at Insider Monkey.