Amprius Technologies (NYSE:AMPX) Stock Price Down 2.2% - Time to 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) fell 2.2% during trading on Thursday . The stock traded as low as $7.73 and last traded at $7.73. 1,728,475 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 4,880,043 shares. The stock had previously closed at $7.90.

Wall Street Analysts Forecast Growth

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

Amprius Technologies Stock Performance

The company's 50-day moving average is $5.52 and its 200 day moving average is $3.66. The company has a market capitalization of $948.16 million, a PE ratio of -24.36 and a beta of 2.72.

Amprius Technologies (NYSE:AMPX - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.03. Amprius Technologies had a negative net margin of 84.77% and a negative return on equity of 55.79%. The company had revenue of $15.07 million for the quarter, compared to the consensus estimate of $12.38 million. On average, analysts forecast that Amprius Technologies, Inc. will post -0.45 EPS for the current fiscal year.

Insider Activity at Amprius Technologies

In other news, CTO Constantin Ionel Stefan sold 20,366 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $2.43, for a total transaction of $49,489.38. Following the sale, the chief technology officer owned 866,134 shares of the company's stock, valued at $2,104,705.62. This trade represents a 2.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Kang Sun sold 69,786 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $2.43, for a total transaction of $169,579.98. Following the sale, the chief executive officer directly owned 1,812,235 shares in the company, valued at approximately $4,403,731.05. The trade was a 3.71% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 117,747 shares of company stock valued at $286,125. 12.80% of the stock is owned by insiders.

Institutional Trading of Amprius Technologies

A number of institutional investors have recently made changes to their positions in AMPX. Board of Trustees of The Leland Stanford Junior University purchased a new stake in shares of Amprius Technologies during the 4th quarter valued at about $4,081,000. Geode Capital Management LLC boosted its holdings in shares of Amprius Technologies by 167.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,593,607 shares of the company's stock valued at $6,710,000 after acquiring an additional 998,649 shares during the last quarter. Essex Investment Management Co. LLC purchased a new stake in shares of Amprius Technologies during the 1st quarter valued at about $2,508,000. Invesco Ltd. boosted its holdings 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 valued at $6,957,000 after acquiring an additional 897,222 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Amprius Technologies by 5,740.5% during the 4th quarter. Renaissance Technologies LLC now owns 765,100 shares of the company's stock valued at $2,142,000 after acquiring an additional 752,000 shares during the last quarter. Hedge funds and other institutional investors 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.