Amprius Technologies (NYSE:AMPX) Shares Down 1.7% - Here's Why

Key Points

• Amprius Technologies shares fell by 1.7% to close at $12.46 after trading as low as $12.39, with increased trading volume of 7,680,083 shares.
• Despite the recent decline in stock price, multiple analysts have issued positive ratings, with target prices ranging from $10.00 to $20.00.
• The company reported better than expected quarterly earnings, with an EPS of ($0.05) compared to analysts' estimates of ($0.08) and revenue of $15.07 million exceeding projections.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report)'s stock price traded down 1.7% during trading on Wednesday . The stock traded as low as $12.39 and last traded at $12.46. 7,680,083 shares traded hands during mid-day trading, an increase of 35% from the average session volume of 5,709,291 shares. The stock had previously closed at $12.67.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Roth Capital reissued a "buy" rating and issued a $10.00 target price (up previously from $6.00) on shares of Amprius Technologies in a report on Tuesday, August 5th. Northland Securities set a $20.00 target price on Amprius Technologies in a report on Tuesday. HC Wainwright reissued a "buy" rating and issued a $18.00 target price (up previously from $10.00) on shares of Amprius Technologies in a report on Friday, August 8th. Cantor Fitzgerald raised their price objective on Amprius Technologies from $10.00 to $12.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Finally, B. Riley raised their price objective on Amprius Technologies from $10.00 to $11.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Eight investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $13.14.

Amprius Technologies Stock Down 1.7%

The stock has a fifty day moving average of $8.73 and a 200-day moving average of $5.45. The stock has a market cap of $1.56 billion, a PE ratio of -37.76 and a beta of 2.85.

Amprius Technologies (NYSE:AMPX - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.03. The firm 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 55.79% and a negative net margin of 84.77%. Equities research analysts forecast that Amprius Technologies, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Activity

In other news, CTO Constantin Ionel Stefan sold 19,159 shares of Amprius Technologies stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $6.82, for a total transaction of $130,664.38. Following the completion of the sale, the chief technology officer directly owned 846,975 shares in the company, valued at approximately $5,776,369.50. This trade represents a 2.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kang Sun sold 65,654 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total transaction of $447,760.28. Following the transaction, the chief executive officer directly owned 1,472,306 shares of the company's stock, valued at approximately $10,041,126.92. This trade represents a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 113,203 shares of company stock worth $772,044. Company insiders own 12.90% of the company's stock.

Hedge Funds Weigh In On Amprius Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its stake in shares of Amprius Technologies by 31.1% in the 4th quarter. Bank of America Corp DE now owns 12,890 shares of the company's stock valued at $36,000 after purchasing an additional 3,055 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in Amprius Technologies in the 1st quarter worth about $40,000. Ameritas Investment Partners Inc. boosted its holdings in shares of Amprius Technologies by 2,043.2% in the second quarter. Ameritas Investment Partners Inc. now owns 9,516 shares of the company's stock valued at $40,000 after acquiring an additional 9,072 shares in the last quarter. Cornerstone Partners Capital Management LLC bought a new position in shares of Amprius Technologies in the first quarter valued at approximately $41,000. Finally, Rhumbline Advisers boosted its holdings in shares of Amprius Technologies by 61.1% in the first quarter. Rhumbline Advisers now owns 15,690 shares of the company's stock valued at $42,000 after acquiring an additional 5,951 shares in the last quarter. Institutional investors and hedge funds own 5.04% of the company's stock.

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.

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