Amprius Technologies (NYSE:AMPX) Stock Price Down 4.4% - What's Next?

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 was down 4.4% during mid-day trading on Thursday . The stock traded as low as $7.36 and last traded at $7.33. Approximately 1,684,833 shares traded hands during mid-day 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 brokerages recently weighed in on AMPX. Cantor Fitzgerald raised their price target 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. Roth Capital reissued a "buy" rating and issued a $10.00 target price (up previously from $6.00) on shares of Amprius Technologies in a report on Tuesday, August 5th. B. Riley boosted their price target on Amprius Technologies from $10.00 to $11.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. HC Wainwright reaffirmed a "buy" rating and set a $18.00 price objective (up from $10.00) on shares of Amprius Technologies in a research report on Friday, August 8th. Finally, William Blair raised Amprius Technologies from a "market perform" rating to an "outperform" rating in a research report on Friday, July 18th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $11.71.

Amprius Technologies Price Performance

The business has a 50-day moving average of $6.00 and a 200 day moving average of $3.80. The company has a market cap of $899.08 million, a PE ratio of -21.78 and a beta of 2.72.

Amprius Technologies (NYSE:AMPX - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.05) EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $15.07 million during the quarter, compared to analysts' expectations of $12.38 million. On average, equities analysts predict that Amprius Technologies, Inc. will post -0.45 EPS for the current fiscal year.

Insider Transactions at Amprius Technologies

In related news, CFO Sandra Wallach sold 27,595 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $2.43, for a total transaction of $67,055.85. Following the completion of the sale, the chief financial officer owned 1,033,665 shares in the company, valued at approximately $2,511,805.95. This trade represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Constantin Ionel Stefan sold 20,366 shares of the business'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 value of $49,489.38. Following the completion of the transaction, the chief technology officer directly owned 866,134 shares in the company, valued at approximately $2,104,705.62. This represents a 2.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 117,747 shares of company stock valued at $286,125 over the last quarter. 12.80% of the stock is currently owned by company insiders.

Institutional Trading of Amprius Technologies

Hedge funds have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC boosted its stake in Amprius Technologies by 17.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 19,134 shares of the company's stock valued at $81,000 after buying an additional 2,873 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Amprius Technologies by 31.1% during the 4th quarter. Bank of America Corp DE now owns 12,890 shares of the company's stock valued at $36,000 after acquiring an additional 3,055 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Amprius Technologies by 61.1% in the first quarter. Rhumbline Advisers now owns 15,690 shares of the company's stock valued at $42,000 after purchasing an additional 5,951 shares in the last quarter. Ameritas Investment Partners Inc. increased its position 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 worth $40,000 after purchasing an additional 9,072 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Amprius Technologies by 1,385.4% during the 2nd 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 in 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.