Amprius Technologies (NYSE:AMPX) Shares Down 3.3% - Should You Sell?

Key Points

• Amprius Technologies' shares fell by 3.3% to $7.56, significantly below its average daily trading volume, which declined by 74%.
• Analysts maintain a consensus Buy rating for Amprius Technologies, with target prices ranging from $10.00 to $18.00, following a positive earnings report and growth outlook.
• Insider sales have occurred recently, with CEO Kang Sun selling over 65,000 shares at around $6.82 each, which has raised concerns among investors about insider confidence.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report)'s share price was down 3.3% on Wednesday . The company traded as low as $7.50 and last traded at $7.56. Approximately 1,345,458 shares changed hands during trading, a decline of 74% from the average daily volume of 5,118,395 shares. The stock had previously closed at $7.81.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on AMPX shares. B. Riley increased their target price on shares of Amprius Technologies from $10.00 to $11.00 and gave the company a "buy" rating in a research report on Friday, August 8th. 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 report on Tuesday, August 5th. HC Wainwright reissued a "buy" rating and set a $18.00 target price (up from $10.00) on shares of Amprius Technologies in a research report on Friday, August 8th. Cantor Fitzgerald increased their target price on shares of Amprius Technologies from $10.00 to $12.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Finally, William Blair raised shares of Amprius Technologies from a "market perform" rating to an "outperform" rating in a research report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company's stock. According to MarketBeat.com, Amprius Technologies presently has a consensus rating of "Buy" and a consensus target price of $11.71.

Amprius Technologies Trading Down 4.0%

The company's fifty day simple moving average is $6.70 and its 200 day simple moving average is $4.07. The stock has a market capitalization of $886.19 million, a P/E ratio of -21.47 and a beta of 2.72.

Amprius Technologies (NYSE:AMPX - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $15.07 million during the quarter, compared to the consensus estimate of $12.38 million. Equities research analysts predict that Amprius Technologies, Inc. will post -0.45 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Sandra Wallach sold 28,390 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $6.82, for a total value of $193,619.80. Following the transaction, the chief financial officer directly owned 1,005,275 shares in the company, valued at approximately $6,855,975.50. This represents a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Constantin Ionel Stefan sold 19,159 shares of the company'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 $130,664.38. Following the completion of the transaction, the chief technology officer owned 846,975 shares in the company, valued at approximately $5,776,369.50. This trade represents a 2.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,203 shares of company stock worth $772,044. Insiders own 12.90% of the company's stock.

Institutional Trading of Amprius Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the stock. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Amprius Technologies during the 2nd quarter valued at $213,000. BNP Paribas Financial Markets raised its position in shares of Amprius Technologies by 2,677.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 159,614 shares of the company's stock valued at $672,000 after buying an additional 153,867 shares in the last quarter. Bank of America Corp DE raised its position in shares of Amprius Technologies by 50.7% during the 2nd quarter. Bank of America Corp DE now owns 126,779 shares of the company's stock valued at $534,000 after buying an additional 42,625 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Amprius Technologies by 419.1% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,041 shares of the company's stock valued at $215,000 after buying an additional 41,208 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Amprius Technologies during the 2nd quarter valued at $144,000. Hedge funds and other 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.