Short Interest in Amprius Technologies, Inc. (NYSE:AMPX) Expands By 53.2%

Key Points

• Short interest in Amprius Technologies expanded by 53.2% in July, with a total of 7,260,000 shares sold short, representing 8.4% of the company's stock.
• Analysts have a generally positive outlook on the company, with eight giving it a "buy" rating and a price target raised to $10.00 from $6.00.
• Insider trading activity included CEO Kang Sun and CFO Sandra Wallach selling shares at an average price of $2.43, reducing their ownership by 3.71% and 2.60%, respectively.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 7,260,000 shares, anincreaseof53.2% from the June 30th total of 4,740,000 shares. Currently,8.4% of the company's stock are sold short. Based on an average daily trading volume, of 6,080,000 shares, the short-interest ratio is currently 1.2 days. Based on an average daily trading volume, of 6,080,000 shares, the short-interest ratio is currently 1.2 days. Currently,8.4% of the company's stock are sold short.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AMPX. Roth Capital reiterated a "buy" rating and set a $10.00 price target (up previously from $6.00) on shares of Amprius Technologies in a research note on Tuesday. B. Riley reaffirmed a "buy" rating and set a $10.00 price target (up from $6.00) on shares of Amprius Technologies in a research report on Thursday, July 10th. Finally, William Blair raised shares of Amprius Technologies from a "market perform" rating to an "outperform" rating in a research report on Friday, July 18th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Amprius Technologies has an average rating of "Buy" and an average price target of $10.14.

Insider Buying and Selling at Amprius Technologies

In other Amprius Technologies news, CEO Kang Sun sold 69,786 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $2.43, for a total value of $169,579.98. Following the completion of the transaction, the chief executive officer directly owned 1,812,235 shares in the company, valued at $4,403,731.05. This represents a 3.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sandra Wallach sold 27,595 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $2.43, for a total value of $67,055.85. Following the sale, the chief financial officer directly owned 1,033,665 shares in the company, valued at $2,511,805.95. The trade was a 2.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 117,747 shares of company stock worth $286,125. Insiders own 12.90% of the company's stock.

Hedge Funds Weigh In On Amprius Technologies

A number of institutional investors have recently modified their holdings of AMPX. Vanguard Personalized Indexing Management LLC increased its position in Amprius Technologies by 17.7% during the second 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 during the last quarter. Bank of America Corp DE increased its stake in shares of Amprius Technologies by 31.1% during the fourth quarter. Bank of America Corp DE now owns 12,890 shares of the company's stock valued at $36,000 after acquiring an additional 3,055 shares during the period. Rhumbline Advisers raised its holdings in 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 buying an additional 5,951 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in Amprius Technologies in the 4th quarter worth approximately $28,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Amprius Technologies in the 2nd quarter valued at approximately $42,000. 5.04% of the stock is owned by institutional investors and hedge funds.

Amprius Technologies Stock Down 5.1%

Shares of AMPX opened at $7.90 on Thursday. The company has a market cap of $931.06 million, a price-to-earnings ratio of -19.26 and a beta of 2.72. The company has a 50 day moving average of $5.21 and a two-hundred day moving average of $3.56. Amprius Technologies has a twelve month low of $0.61 and a twelve month high of $9.09.

Amprius Technologies (NYSE:AMPX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.09) by $0.01. Amprius Technologies had a negative return on equity of 67.67% and a negative net margin of 133.34%. The firm had revenue of $11.28 million during the quarter, compared to the consensus estimate of $8.52 million. On average, sell-side analysts expect that Amprius Technologies will post -0.45 EPS for the current 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.

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