Amprius Technologies (NYSE:AMPX) Shares Down 14.4% - Time to Sell?

Key Points

• Shares down 14.4% — AMPX fell to about $8.80 on Wednesday with ~10.07M shares traded (up ~64% vs. average), giving the company a market cap near $1.15 billion.
• Analyst outlook is mixed-to-positive: eight Buys and one Sell translate to an average rating of "Moderate Buy" and an average price target of $14.29 (range roughly $12–$20), implying analyst upside from current levels.
• Q3 beat estimates (EPS -$0.03 vs. -$0.06; revenue $21.4M vs. $16.45M) but the business remains unprofitable with negative margins and ROE, and insiders sold roughly 1.29M shares last quarter (insiders now own 12.8%).

Shares of Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) dropped 14.4% during trading on Wednesday . The company traded as low as $8.77 and last traded at $8.7950. Approximately 10,072,908 shares traded hands during trading, an increase of 64% from the average daily volume of 6,126,355 shares. The stock had previously closed at $10.28.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AMPX shares. Northland Securities set a $20.00 price target on shares of Amprius Technologies in a research report on Tuesday, October 7th. Cantor Fitzgerald lifted their target price on Amprius Technologies from $12.00 to $16.00 and gave the company an "overweight" rating in a research report on Friday, November 7th. Weiss Ratings restated a "sell (e+)" rating on shares of Amprius Technologies in a research report on Wednesday, October 8th. Finally, Roth Capital set a $14.00 price objective on Amprius Technologies and gave the company a "buy" rating in a research report on Wednesday, October 22nd. Eight equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $14.29.

Amprius Technologies Stock Down 14.4%

The business has a 50 day moving average price of $11.87 and a two-hundred day moving average price of $8.77. The stock has a market cap of $1.15 billion, a P/E ratio of -33.83 and a beta of 2.94.

Amprius Technologies (NYSE:AMPX - Get Free Report) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.03. The business had revenue of $21.43 million during the quarter, compared to the consensus estimate of $16.45 million. Amprius Technologies had a negative return on equity of 38.85% and a negative net margin of 53.16%. On average, research analysts forecast that Amprius Technologies, Inc. will post -0.45 earnings per share for the current year.

Insider Buying and Selling at Amprius Technologies

In related news, CEO Kang Sun sold 68,655 shares of the business's stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $10.08, for a total value of $692,042.40. Following the sale, the chief executive officer directly owned 1,403,651 shares in the company, valued at approximately $14,148,802.08. The trade was a 4.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Constantin Ionel Stefan sold 198,255 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $10.51, for a total value of $2,083,660.05. Following the transaction, the chief technology officer directly owned 748,696 shares of the company's stock, valued at approximately $7,868,794.96. The trade was a 20.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 1,291,934 shares of company stock worth $13,627,944. Corporate insiders own 12.80% of the company's stock.

Institutional Trading of Amprius Technologies

Hedge funds have recently modified their holdings of the company. Voloridge Investment Management LLC bought a new position in shares of Amprius Technologies during the 3rd quarter valued at approximately $19,737,000. BNP Paribas Financial Markets raised its stake in Amprius Technologies by 1,117.9% during the third quarter. BNP Paribas Financial Markets now owns 1,943,905 shares of the company's stock valued at $20,450,000 after purchasing an additional 1,784,291 shares in the last quarter. Vanguard Group Inc. lifted its position in Amprius Technologies by 37.0% during the third quarter. Vanguard Group Inc. now owns 6,512,620 shares of the company's stock valued at $68,513,000 after purchasing an additional 1,757,395 shares during the last quarter. Invesco Ltd. lifted its position in Amprius Technologies by 113.3% during the third quarter. Invesco Ltd. now owns 2,379,384 shares of the company's stock valued at $25,031,000 after purchasing an additional 1,263,846 shares during the last quarter. Finally, Stephens Investment Management Group LLC purchased a new position in shares of Amprius Technologies in the 3rd quarter worth $11,392,000. 5.04% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.