Amprius Technologies (NYSE:AMPX) Trading Down 2.4% - Time to Sell?

Key Points

• Amprius Technologies (NYSE:AMPX) shares dropped 2.4% to a last traded price of $8.10, with trading volume down 69% from its average.
• Analysts maintain a favorable outlook, with B. Riley raising its target price to $10.00, while the stock holds an average rating of "Buy" and a target of $10.17.
• The company reported revenues of $11.28 million for the last quarter, exceeding expectations of $8.52 million, despite posting a negative EPS of ($0.08).
• Insider activity shows key executives in Amprius Technologies sold shares recently, collectively reducing their holdings by approximately 2.3% to 12.90% of the stock owned by insiders.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report)'s share price traded down 2.4% during mid-day trading on Friday . The company traded as low as $8.03 and last traded at $8.10. 1,467,939 shares traded hands during trading, a decline of 69% from the average session volume of 4,675,406 shares. The stock had previously closed at $8.29.

Wall Street Analysts Forecast Growth

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

Amprius Technologies Trading Up 1.1%

The firm has a market capitalization of $977.64 million, a PE ratio of -20.22 and a beta of 2.68. The business has a 50-day moving average of $4.55 and a 200 day moving average of $3.37.

Amprius Technologies (NYSE:AMPX - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.08) EPS for the quarter, beating analysts' consensus estimates of ($0.09) by $0.01. The business had revenue of $11.28 million during the quarter, compared to analyst estimates 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, sell-side analysts expect that Amprius Technologies, Inc. will post -0.45 EPS for the current fiscal year.

Insider Activity

In other news, CTO Constantin Ionel Stefan sold 20,366 shares of the firm's 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 sale, the chief technology officer directly 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 document filed with the SEC, which is available through the SEC website. Also, CEO Kang Sun sold 69,786 shares of the firm's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $2.43, for a total value of $169,579.98. Following the sale, 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 valued at $286,125 in the last ninety days. 12.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amprius Technologies

Several large investors have recently made changes to their positions in AMPX. Mercer Global Advisors Inc. ADV purchased a new stake in Amprius Technologies in the 4th quarter worth about $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Amprius Technologies in the 2nd quarter worth about $42,000. Bank of America Corp DE increased its holdings in Amprius Technologies by 31.1% in the 4th quarter. Bank of America Corp DE now owns 12,890 shares of the company's stock worth $36,000 after acquiring an additional 3,055 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in Amprius Technologies in the 1st quarter worth about $40,000. Finally, Cornerstone Partners Capital Management LLC purchased a new stake in Amprius Technologies in the 1st quarter worth about $41,000. 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.