Amprius Technologies (NYSE:AMPX) Shares Down 3.3% - Here's Why

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) dropped 3.3% during mid-day trading on Wednesday . The company traded as low as $7.50 and last traded at $7.56. Approximately 1,345,458 shares traded hands during mid-day 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

AMPX has been the subject of a number of research analyst reports. HC Wainwright reissued a "buy" rating and issued a $18.00 target price (up from $10.00) on shares of Amprius Technologies in a research report on Friday, August 8th. Roth Capital reaffirmed a "buy" rating and issued a $10.00 target price (up from $6.00) on shares of Amprius Technologies in a report on Tuesday, August 5th. Cantor Fitzgerald lifted their target price on shares of Amprius Technologies from $10.00 to $12.00 and gave the company an "overweight" rating in a report on Friday, August 8th. B. Riley lifted their target price on shares of Amprius Technologies from $10.00 to $11.00 and gave the company a "buy" rating in a report on Friday, August 8th. Finally, William Blair raised shares of Amprius Technologies from a "market perform" rating to an "outperform" rating in a report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. Based on data from MarketBeat, Amprius Technologies presently has a consensus rating of "Buy" and a consensus price target of $11.71.

Amprius Technologies Stock Performance

The company has a market capitalization of $919.71 million, a PE ratio of -22.29 and a beta of 2.72. The firm's 50-day simple moving average is $6.49 and its 200 day simple moving average is $3.99.

Amprius Technologies (NYSE:AMPX - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03. The company had revenue of $15.07 million for the quarter, compared to analyst estimates of $12.38 million. Amprius Technologies had a negative net margin of 84.77% and a negative return on equity of 55.79%. As a group, equities analysts anticipate that Amprius Technologies, Inc. will post -0.45 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Kang Sun sold 65,654 shares of the business's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $6.82, for a total value of $447,760.28. Following the sale, the chief executive officer directly owned 1,472,306 shares in the company, valued at $10,041,126.92. The trade was a 4.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Constantin Ionel Stefan sold 19,159 shares of the business's stock in a transaction dated 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 sale, the chief technology officer owned 846,975 shares in the company, valued at $5,776,369.50. This represents a 2.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 113,203 shares of company stock worth $772,044. Corporate insiders own 12.80% of the company's stock.

Institutional Investors Weigh In On Amprius Technologies

Several institutional investors and hedge funds have recently made changes to their positions in AMPX. Ameritas Investment Partners Inc. lifted its holdings in Amprius Technologies by 2,043.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,516 shares of the company's stock valued at $40,000 after purchasing an additional 9,072 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Amprius Technologies in the 4th quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Amprius Technologies in the 2nd quarter valued at about $42,000. Legal & General Group Plc lifted its holdings in Amprius Technologies by 1,385.4% in the 2nd quarter. Legal & General Group Plc now owns 10,383 shares of the company's stock valued at $44,000 after purchasing an additional 9,684 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in Amprius Technologies in the 2nd quarter valued at about $44,000. 5.04% of the stock is currently 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.

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