Amprius Technologies (NYSE:AMPX) Shares Down 5.4% - Here's Why

Key Points

• Shares of Amprius Technologies (NYSE:AMPX) declined by 5.4%, trading between $10.85 and $11.06, with a significant increase in trading volume.
• Multiple analysts have issued upgraded ratings for the company, with price targets ranging from $10.00 to $18.00, leading to a consensus rating of "Buy."
• The company reported positive quarterly earnings, with revenues of $15.07 million, surpassing analyst estimates, although it still posted a negative EPS of ($0.05).

Shares of Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) traded down 5.4% during mid-day trading on Wednesday . The company traded as low as $10.85 and last traded at $11.06. 9,030,935 shares traded hands during trading, an increase of 63% from the average session volume of 5,539,006 shares. The stock had previously closed at $11.69.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Roth Capital reiterated a "buy" rating and set a $10.00 price target (up previously from $6.00) on shares of Amprius Technologies in a research 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 report on Friday, August 8th. Cantor Fitzgerald boosted their price target on Amprius Technologies from $10.00 to $12.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. William Blair upgraded Amprius Technologies from a "market perform" rating to an "outperform" rating in a research report on Friday, July 18th. Finally, HC Wainwright reissued a "buy" rating and issued a $18.00 price objective (up previously from $10.00) on shares of Amprius Technologies in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $11.71.

Amprius Technologies Stock Performance

The stock has a 50 day moving average price of $7.99 and a 200 day moving average price of $4.78. The company has a market cap of $1.38 billion, a P/E ratio of -33.52 and a beta of 2.72.

Amprius Technologies (NYSE:AMPX - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.05) EPS for the quarter, topping 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 return on equity of 55.79% and a negative net margin of 84.77%. As a group, equities research analysts predict that Amprius Technologies, Inc. will post -0.45 earnings per share for the current year.

Insider Transactions at Amprius Technologies

In other news, CFO Sandra Wallach sold 28,390 shares of the business's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total transaction of $193,619.80. Following the sale, the chief financial officer directly owned 1,005,275 shares of the company's stock, valued at $6,855,975.50. The trade was a 2.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Constantin Ionel Stefan sold 19,159 shares of the business's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total value of $130,664.38. Following the sale, the chief technology officer directly owned 846,975 shares in the company, valued at $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. Insiders have sold 113,203 shares of company stock valued at $772,044 over the last three months. Company insiders own 12.80% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Bank of America Corp DE raised its position in Amprius Technologies by 31.1% during the fourth quarter. Bank of America Corp DE now owns 12,890 shares of the company's stock valued at $36,000 after buying an additional 3,055 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new position in Amprius Technologies in the first quarter valued at about $40,000. Ameritas Investment Partners Inc. increased its position 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 worth $40,000 after purchasing an additional 9,072 shares during the last quarter. Cornerstone Partners Capital Management LLC acquired a new position in Amprius Technologies in the 1st quarter worth about $41,000. Finally, Rhumbline Advisers increased its position in Amprius Technologies by 61.1% in the 1st quarter. Rhumbline Advisers now owns 15,690 shares of the company's stock worth $42,000 after purchasing an additional 5,951 shares during the last quarter. 5.04% of the stock is owned by institutional investors and hedge funds.

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.

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