Amprius Technologies (NYSE:AMPX) Shares Down 2.2% - Should You Sell?

Key Points

• Amprius Technologies' stock price fell by 2.2% to $7.73, with trading volume dropping significantly to about 1.7 million shares, compared to an average of 4.88 million.
• Analysts have shown optimism, with eight rating the stock as a buy and a consensus price target of $10.14, supported by recent upgrades from firms like William Blair and B. Riley.
• Insider trading activity included notable sales by CTO Constantin Ionel Stefan and CEO Kang Sun, who sold shares at an average price of $2.43, reducing their ownership stakes.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report)'s stock price dropped 2.2% during mid-day trading on Thursday . The stock traded as low as $7.73 and last traded at $7.73. Approximately 1,728,475 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 4,880,043 shares. The stock had previously closed at $7.90.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AMPX shares. William Blair upgraded Amprius Technologies from a "market perform" rating to an "outperform" rating in a research note on Friday, July 18th. B. Riley restated a "buy" rating and issued a $10.00 price objective (up previously from $6.00) on shares of Amprius Technologies in a report on Thursday, July 10th. Finally, Roth Capital reissued a "buy" rating and set a $10.00 target price (up from $6.00) on shares of Amprius Technologies in a research note on Tuesday. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $10.14.

Amprius Technologies Stock Down 2.3%

The company's 50-day simple moving average is $5.21 and its 200 day simple moving average is $3.56. The stock has a market capitalization of $909.95 million, a price-to-earnings ratio of -18.82 and a beta of 2.72.

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

Insider Transactions at Amprius Technologies

In other Amprius Technologies 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 transaction of $49,489.38. Following the completion of the transaction, the chief technology officer directly owned 866,134 shares in the company, valued at $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 can be accessed through this link. Also, CEO Kang Sun sold 69,786 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $2.43, for a total transaction of $169,579.98. Following the completion of the transaction, the chief executive officer directly owned 1,812,235 shares of the company's stock, 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. Insiders sold a total of 117,747 shares of company stock worth $286,125 over the last three months. 12.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amprius Technologies

Several hedge funds have recently added to or reduced their stakes in AMPX. Vanguard Personalized Indexing Management LLC grew its position in shares of Amprius Technologies by 17.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 19,134 shares of the company's stock valued at $81,000 after purchasing an additional 2,873 shares during the period. Bank of America Corp DE increased its position in shares of Amprius Technologies by 31.1% during the 4th quarter. Bank of America Corp DE now owns 12,890 shares of the company's stock worth $36,000 after purchasing an additional 3,055 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Amprius Technologies by 61.1% in the 1st 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. Mercer Global Advisors Inc. ADV bought a new position in shares of Amprius Technologies in the fourth quarter valued at $28,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Amprius Technologies during the second quarter worth $42,000. Institutional investors own 5.04% of the company's stock.

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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