Walleye Capital LLC Lowers Stock Holdings in Amprius Technologies, Inc. $AMPX

Key Points

• Walleye Capital LLC significantly reduced its stake in Amprius Technologies by selling 250,429 shares, lowering its holdings by 82.0% to 55,071 shares, valued at $148,000.
• Amprius Technologies posted a quarterly earnings report with a loss of ($0.05) per share, which beat analysts' expectations, and reported revenue of $15.07 million, exceeding consensus estimates.
• Equities analysts have raised price targets for Amprius Technologies, with HC Wainwright setting a new target price of $18.00, indicating a growing bullish sentiment in the market.

Walleye Capital LLC trimmed its position in shares of Amprius Technologies, Inc. (NYSE:AMPX - Free Report) by 82.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,071 shares of the company's stock after selling 250,429 shares during the quarter. Walleye Capital LLC's holdings in Amprius Technologies were worth $148,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Mercer Global Advisors Inc. ADV acquired a new position in shares of Amprius Technologies during the 4th quarter worth $28,000. Bank of America Corp DE increased its position in shares of Amprius Technologies by 31.1% in the fourth quarter. Bank of America Corp DE now owns 12,890 shares of the company's stock worth $36,000 after acquiring an additional 3,055 shares in the last quarter. Cornerstone Partners Capital Management LLC bought a new stake in shares of Amprius Technologies in the 1st quarter valued at approximately $41,000. Rhumbline Advisers increased its position in Amprius Technologies by 61.1% in the 1st quarter. Rhumbline Advisers now owns 15,690 shares of the company's stock worth $42,000 after buying an additional 5,951 shares during the period. Finally, Wolverine Trading LLC acquired a new stake in Amprius Technologies in the 4th quarter valued at $48,000. Institutional investors and hedge funds own 5.04% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. William Blair raised shares of Amprius Technologies from a "market perform" rating to an "outperform" rating in a research report on Friday, July 18th. Roth Capital reiterated a "buy" rating and set a $10.00 target price (up from $6.00) on shares of Amprius Technologies in a research note on Tuesday, August 5th. Cantor Fitzgerald boosted 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. B. Riley raised their price target on shares of Amprius Technologies from $10.00 to $11.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Finally, HC Wainwright reiterated a "buy" rating and issued a $18.00 target price (up 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 issued a Buy rating to the company's stock. Based on data from MarketBeat.com, Amprius Technologies has an average rating of "Buy" and an average target price of $11.71.

Insider Buying and Selling

In other Amprius Technologies news, CFO Sandra Wallach sold 28,390 shares of Amprius Technologies stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $6.82, for a total transaction of $193,619.80. Following the transaction, the chief financial officer directly owned 1,005,275 shares in the company, valued at approximately $6,855,975.50. The trade was a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kang Sun sold 65,654 shares of the firm's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $6.82, for a total transaction of $447,760.28. Following the completion of the transaction, the chief executive officer directly owned 1,472,306 shares in the company, valued at approximately $10,041,126.92. The trade was a 4.27% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,203 shares of company stock valued at $772,044. Insiders own 12.90% of the company's stock.

Amprius Technologies Price Performance

Shares of AMPX stock traded up $0.44 during trading hours on Monday, reaching $7.55. 6,850,353 shares of the company's stock were exchanged, compared to its average volume of 5,126,913. Amprius Technologies, Inc. has a 1 year low of $0.61 and a 1 year high of $9.66. The company has a market cap of $943.70 million, a P/E ratio of -22.86 and a beta of 2.72. The company's 50 day moving average is $7.02 and its two-hundred day moving average is $4.20.

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

About Amprius Technologies

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.