Amprius Technologies (NYSE:AMPX) Shares Down 4.4% - Here's What Happened

Key Points

• Amprius Technologies' shares fell by 4.4% to $7.33 during mid-day trading, with approximately 1.68 million shares traded, significantly lower than the average daily volume.
• Analysts have a generally positive outlook on Amprius Technologies, with multiple upgrades and an average target price of $11.71, indicating strong buy recommendations.
• The company reported earnings of ($0.05) per share, beating estimates, and had revenues of $15.07 million for the quarter, exceeding forecasts by $2.69 million.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report)'s share price dropped 4.4% during mid-day trading on Thursday . The company traded as low as $7.36 and last traded at $7.33. Approximately 1,684,833 shares were traded during trading, a decline of 67% from the average daily volume of 5,115,329 shares. The stock had previously closed at $7.67.

Analyst Ratings Changes

Several analysts have issued reports on the stock. William Blair raised shares of Amprius Technologies from a "market perform" rating to an "outperform" rating in a report on Friday, July 18th. B. Riley increased their price objective on shares of Amprius Technologies from $10.00 to $11.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Roth Capital reaffirmed a "buy" rating and set a $10.00 price target (up from $6.00) on shares of Amprius Technologies in a report on Tuesday, August 5th. Cantor Fitzgerald raised their price target on shares of Amprius Technologies from $10.00 to $12.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Finally, HC Wainwright restated a "buy" rating and issued a $18.00 price target (up from $10.00) on shares of Amprius Technologies in a research report on Friday, August 8th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $11.71.

Amprius Technologies Stock Performance

The stock has a market capitalization of $870.89 million, a price-to-earnings ratio of -22.35 and a beta of 2.72. The company's 50 day moving average is $5.82 and its 200 day moving average is $3.74.

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

Insider Buying and Selling

In related news, CTO Constantin Ionel Stefan sold 20,366 shares of the stock in a transaction that occurred 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 approximately $2,104,705.62. This represents a 2.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kang Sun sold 69,786 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $2.43, for a total transaction of $169,579.98. Following the transaction, the chief executive officer directly owned 1,812,235 shares of the company's stock, valued at $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. In the last three months, insiders sold 117,747 shares of company stock valued at $286,125. 12.90% of the stock is owned by corporate insiders.

Institutional Trading of Amprius Technologies

Several institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. lifted its stake in Amprius Technologies by 2,043.2% in the second quarter. Ameritas Investment Partners Inc. now owns 9,516 shares of the company's stock valued at $40,000 after buying an additional 9,072 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in Amprius Technologies in the fourth quarter valued at approximately $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Amprius Technologies in the second quarter valued at approximately $42,000. Legal & General Group Plc lifted its stake in Amprius Technologies by 1,385.4% in the second quarter. Legal & General Group Plc now owns 10,383 shares of the company's stock valued at $44,000 after buying an additional 9,684 shares during the period. Finally, XTX Topco Ltd acquired a new position in Amprius Technologies in the second quarter valued at approximately $44,000. 5.04% of the stock is currently owned by 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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