Amprius Technologies, Inc. (NYSE:AMPX) Short Interest Up 27.0% in July

Key Points

• Amprius Technologies experienced a 27.0% increase in short interest in July, reaching a total of 9,220,000 shares, representing 9.9% of the company's shares sold short.
• Several analysts have upgraded their ratings on Amprius Technologies, with Cantor Fitzgerald raising its price target from $10.00 to $12.00 and others assigning "buy" ratings, reflecting positive market sentiment.
• The company recently reported better-than-expected quarterly earnings with a revenue of $15.07 million, surpassing analysts' estimates of $12.38 million, yet continues to show a negative return on equity.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) was the target of a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 9,220,000 shares, agrowthof27.0% from the July 15th total of 7,260,000 shares. Currently,9.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 7,290,000 shares, the days-to-cover ratio is currently 1.3 days. Based on an average daily trading volume, of 7,290,000 shares, the days-to-cover ratio is currently 1.3 days. Currently,9.9% of the shares of the stock are short sold.

Amprius Technologies Trading Up 5.5%

Shares of NYSE AMPX traded up $0.3970 on Monday, reaching $7.5670. 2,952,370 shares of the company traded hands, compared to its average volume of 5,107,692. Amprius Technologies has a fifty-two week low of $0.61 and a fifty-two week high of $9.66. The company has a 50 day moving average of $6.34 and a 200 day moving average of $3.93. The stock has a market capitalization of $946.48 million, a PE ratio of -22.95 and a beta of 2.72.

Amprius Technologies (NYSE:AMPX - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.03. The firm had revenue of $15.07 million during the quarter, compared to the consensus estimate of $12.38 million. Amprius Technologies had a negative net margin of 84.77% and a negative return on equity of 55.79%. As a group, research analysts expect that Amprius Technologies will post -0.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

AMPX has been the topic of several analyst reports. Cantor Fitzgerald raised their price target on shares of Amprius Technologies from $10.00 to $12.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Roth Capital reaffirmed a "buy" rating and set a $10.00 price target (up from $6.00) on shares of Amprius Technologies in a research note on Tuesday, August 5th. B. Riley raised their price target on shares of Amprius Technologies from $10.00 to $11.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. William Blair raised shares of Amprius Technologies from a "market perform" rating to an "outperform" rating in a research note on Friday, July 18th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $18.00 price target (up from $10.00) on shares of Amprius Technologies in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $11.71.

Institutional Trading of Amprius Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC increased its position in Amprius Technologies by 17.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 19,134 shares of the company's stock worth $81,000 after purchasing an additional 2,873 shares in the last quarter. Bank of America Corp DE raised its position in Amprius Technologies by 31.1% in the fourth quarter. Bank of America Corp DE now owns 12,890 shares of the company's stock valued at $36,000 after purchasing an additional 3,055 shares during the period. Rhumbline Advisers raised its position in Amprius Technologies by 61.1% in the first quarter. Rhumbline Advisers now owns 15,690 shares of the company's stock valued at $42,000 after purchasing an additional 5,951 shares during the period. Ameritas Investment Partners Inc. raised its position in Amprius Technologies by 2,043.2% in the second quarter. Ameritas Investment Partners Inc. now owns 9,516 shares of the company's stock valued at $40,000 after purchasing an additional 9,072 shares during the period. Finally, Legal & General Group Plc raised its position in Amprius Technologies by 1,385.4% in the second quarter. Legal & General Group Plc now owns 10,383 shares of the company's stock valued at $44,000 after purchasing an additional 9,684 shares during the period. Institutional investors and hedge funds own 5.04% of the company's stock.

Amprius Technologies Company Profile

Amprius Technologies, Inc produces and sells ultra-high energy density lithium-ion batteries for mobility applications. The company offers silicon nanowire anode batteries. Its batteries are primarily used for existing and emerging aviation applications, including unmanned aerial systems, such as drones and high-altitude pseudo satellites.