Amprius Technologies (NYSE:AMPX) Stock Price Down 10.5% - Should You Sell?

Key Points

• Amprius Technologies shares declined by 10.5% on Tuesday, trading as low as $7.32 after closing at $8.29, with trading volume down by 16% from average levels.
• Despite the recent drop in stock price, Wall Street analysts maintain a consensus buy rating for Amprius Technologies, with an average target price of $10.17.
• Recent insider transactions have seen the CTO and CEO each sell shares, indicating a 3.71% and 2.30% decrease in their stock positions, respectively.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report)'s share price fell 10.5% during trading on Tuesday . The company traded as low as $7.32 and last traded at $7.42. 3,988,578 shares traded hands during trading, a decline of 16% from the average session volume of 4,720,305 shares. The stock had previously closed at $8.29.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AMPX. B. Riley restated a "buy" rating and set a $10.00 target price (up previously from $6.00) on shares of Amprius Technologies in a report on Thursday, July 10th. William Blair upgraded Amprius Technologies from a "market perform" rating to an "outperform" rating in a report on Friday, July 18th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $10.17.

Amprius Technologies Price Performance

The company has a market capitalization of $750.02 million, a PE ratio of -15.51 and a beta of 2.68. The company has a 50 day moving average of $4.93 and a two-hundred day moving average of $3.48.

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

Insider Transactions at Amprius Technologies

In other news, CTO Constantin Ionel Stefan sold 20,366 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $2.43, for a total value of $49,489.38. Following the sale, the chief technology officer directly owned 866,134 shares of the company's stock, valued at approximately $2,104,705.62. This represents a 2.30% 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 69,786 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $2.43, for a total value of $169,579.98. Following the completion of the sale, the chief executive officer directly owned 1,812,235 shares in the company, valued at approximately $4,403,731.05. This represents a 3.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 117,747 shares of company stock valued at $286,125. Insiders own 12.90% of the company's stock.

Institutional Investors Weigh In On Amprius Technologies

Institutional investors have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Amprius Technologies during the fourth quarter valued at $28,000. Bank of America Corp DE boosted its position 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 buying an additional 3,055 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Amprius Technologies during the first quarter valued at $40,000. Cornerstone Partners Capital Management LLC purchased a new stake in shares of Amprius Technologies during the first quarter valued at $41,000. Finally, Rhumbline Advisers boosted its position in shares of Amprius Technologies by 61.1% during the first quarter. Rhumbline Advisers now owns 15,690 shares of the company's stock valued at $42,000 after buying an additional 5,951 shares during the last quarter. 5.04% of the stock is owned by hedge funds and other institutional investors.

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.