Amprius Technologies, Inc. (NYSE:AMPX) Short Interest Up 53.2% in July

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 in 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. Approximately8.4% of the shares of the company are sold short. Based on an average daily volume of 6,080,000 shares, the short-interest ratio is presently 1.2 days. Based on an average daily volume of 6,080,000 shares, the short-interest ratio is presently 1.2 days. Approximately8.4% of the shares of the company are sold short.

Insider Buying and Selling

In other Amprius Technologies news, CFO Sandra Wallach sold 27,595 shares of the company'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 transaction of $67,055.85. Following the completion of the sale, the chief financial officer directly owned 1,033,665 shares of the company's stock, valued at $2,511,805.95. This represents a 2.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Constantin Ionel Stefan sold 20,366 shares of Amprius Technologies 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 $49,489.38. Following the completion of the transaction, the chief technology officer owned 866,134 shares in the company, valued at $2,104,705.62. This trade represents a 2.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 117,747 shares of company stock worth $286,125 in the last 90 days. Company insiders own 12.90% of the company's stock.

Hedge Funds Weigh In On Amprius Technologies

Several hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. acquired a new position in Amprius Technologies during the fourth quarter worth about $68,000. Geode Capital Management LLC raised its position in shares of Amprius Technologies by 6.0% during the 4th quarter. Geode Capital Management LLC now owns 580,819 shares of the company's stock worth $1,626,000 after purchasing an additional 32,681 shares during the last quarter. Invesco Ltd. raised its position in shares of Amprius Technologies by 56.5% during the 4th quarter. Invesco Ltd. now owns 2,484,662 shares of the company's stock worth $6,957,000 after purchasing an additional 897,222 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Amprius Technologies by 5,740.5% in the 4th quarter. Renaissance Technologies LLC now owns 765,100 shares of the company's stock valued at $2,142,000 after buying an additional 752,000 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in Amprius Technologies during the 4th quarter valued at $99,000. 5.04% of the stock is currently owned by hedge funds and other institutional investors.

Amprius Technologies Stock Up 4.1%

Shares of AMPX traded up $0.32 on Friday, reaching $8.04. The stock had a trading volume of 21,569,207 shares, compared to its average volume of 10,008,242. Amprius Technologies has a twelve month low of $0.61 and a twelve month high of $9.66. The firm has a market capitalization of $948.16 million, a PE ratio of -24.36 and a beta of 2.72. The firm has a 50-day moving average of $5.52 and a 200 day moving average of $3.65.

Amprius Technologies (NYSE:AMPX - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. The company 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 58.22% and a negative net margin of 84.77%. On average, sell-side analysts anticipate that Amprius Technologies will post -0.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AMPX shares. William Blair raised shares of Amprius Technologies from a "market perform" rating to an "outperform" rating in a research note on Friday, July 18th. Roth Capital restated a "buy" rating and issued a $10.00 price objective (up previously from $6.00) on shares of Amprius Technologies in a research report on Tuesday, August 5th. Cantor Fitzgerald boosted their target price on Amprius Technologies from $10.00 to $12.00 and gave the stock an "overweight" rating in a research report on Friday. B. Riley raised their price target on Amprius Technologies from $10.00 to $11.00 and gave the company a "buy" rating in a report on Friday. Finally, HC Wainwright upped their price objective on Amprius Technologies from $10.00 to $18.00 and gave the stock a "buy" rating in a report on Friday. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $11.71.

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.