Invesco Ltd. Trims Stock Holdings in Amprius Technologies, Inc. $AMPX

Key Points

• Invesco Ltd. reduced its stake in Amprius Technologies by 53%, now owning 1,166,556 shares worth approximately $3.1 million.
• Institutional investors have shown mixed activity, with Bank of America Corp increasing its stake by 31.1% while Amprius shares have a 52-week high of $9.66.
• Analysts have raised target prices for Amprius Technologies, with a consensus target price now set at $11.71, indicating strong favorable ratings.

Invesco Ltd. cut its holdings in shares of Amprius Technologies, Inc. (NYSE:AMPX - Free Report) by 53.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,166,556 shares of the company's stock after selling 1,318,106 shares during the period. Invesco Ltd. owned about 0.99% of Amprius Technologies worth $3,126,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Amprius Technologies during the 4th quarter worth approximately $28,000. Bank of America Corp DE grew its stake in shares of Amprius Technologies by 31.1% during the 4th quarter. Bank of America Corp DE now owns 12,890 shares of the company's stock worth $36,000 after purchasing an additional 3,055 shares during the period. Cornerstone Partners Capital Management LLC acquired a new stake in shares of Amprius Technologies during the 1st quarter worth approximately $41,000. Rhumbline Advisers grew its stake in shares of Amprius Technologies by 61.1% during the 1st quarter. Rhumbline Advisers now owns 15,690 shares of the company's stock worth $42,000 after purchasing an additional 5,951 shares during the period. Finally, Wolverine Trading LLC acquired a new stake in shares of Amprius Technologies during the 4th quarter worth approximately $48,000. 5.04% of the stock is owned by hedge funds and other institutional investors.

Amprius Technologies Stock Performance

Shares of NYSE AMPX traded up $0.20 during trading on Tuesday, hitting $7.29. 4,547,622 shares of the company were exchanged, compared to its average volume of 7,026,165. Amprius Technologies, Inc. has a 12-month low of $0.61 and a 12-month high of $9.66. The company has a fifty day moving average price of $6.84 and a 200-day moving average price of $4.12. The firm has a market capitalization of $912.21 million, a PE ratio of -22.10 and a beta of 2.72.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AMPX shares. Roth Capital reiterated a "buy" rating and set a $10.00 target price (up previously from $6.00) on shares of Amprius Technologies in a research report on Tuesday, August 5th. B. Riley increased their target price on Amprius Technologies from $10.00 to $11.00 and gave the company a "buy" rating in a research report on Friday, August 8th. William Blair upgraded Amprius Technologies from a "market perform" rating to an "outperform" rating in a research report on Friday, July 18th. Cantor Fitzgerald increased their target price on Amprius Technologies from $10.00 to $12.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Finally, HC Wainwright reiterated a "buy" rating and set a $18.00 target price (up previously from $10.00) on shares of Amprius Technologies in a research report on Friday, August 8th. One research 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 company presently has a consensus rating of "Buy" and an average price target of $11.71.

Insider Transactions at Amprius Technologies

In related news, CFO Sandra Wallach sold 28,390 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total value of $193,619.80. Following the completion of the transaction, the chief financial officer directly owned 1,005,275 shares of the company's stock, valued at $6,855,975.50. This represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kang Sun sold 65,654 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $6.82, for a total value of $447,760.28. Following the completion of the transaction, the chief executive officer directly owned 1,472,306 shares of the company's stock, valued at $10,041,126.92. This trade represents a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,203 shares of company stock valued at $772,044. 12.80% of the stock is currently owned by corporate insiders.

Amprius Technologies 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.