Amprius Technologies (NYSE:AMPX) Shares Down 5.6% - Here's What Happened

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) fell 5.6% during trading on Friday . The company traded as low as $5.88 and last traded at $6.14. 6,981,718 shares traded hands during trading, an increase of 68% from the average session volume of 4,145,331 shares. The stock had previously closed at $6.50.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AMPX. HC Wainwright reiterated a "buy" rating and issued a $10.00 price target on shares of Amprius Technologies in a research report on Friday, March 21st. Oppenheimer increased their price target on Amprius Technologies from $14.00 to $15.00 and gave the stock an "outperform" rating in a research note on Friday, March 21st. B. Riley restated a "buy" rating and issued a $10.00 price objective (up from $6.00) on shares of Amprius Technologies in a research report on Thursday. Finally, Roth Mkm reissued a "buy" rating and set a $6.00 target price on shares of Amprius Technologies in a research note on Friday, March 21st. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $10.17.

Amprius Technologies Stock Performance

The firm has a fifty day simple moving average of $3.39 and a two-hundred day simple moving average of $2.98. The firm has a market cap of $757.70 million, a PE ratio of -15.65 and a beta of 2.68.

Amprius Technologies (NYSE:AMPX - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.09) by $0.01. Amprius Technologies had a negative net margin of 133.34% and a negative return on equity of 67.67%. The company had revenue of $11.28 million for the quarter, compared to the consensus estimate of $8.52 million. Equities analysts forecast that Amprius Technologies, Inc. will post -0.45 EPS for the current fiscal year.

Insider Buying and Selling at Amprius Technologies

In other news, CEO Kang Sun sold 69,786 shares of Amprius Technologies 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 $169,579.98. Following the completion of the transaction, the chief executive officer owned 1,812,235 shares in the company, valued at approximately $4,403,731.05. The trade was a 3.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sandra Wallach sold 27,595 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $2.43, for a total transaction of $67,055.85. Following the transaction, the chief financial officer owned 1,033,665 shares in the company, valued at $2,511,805.95. The trade was a 2.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 117,747 shares of company stock worth $286,125 over the last ninety days. Company insiders own 12.90% of the company's stock.

Hedge Funds Weigh In On Amprius Technologies

Several hedge funds have recently bought and sold shares of AMPX. Board of Trustees of The Leland Stanford Junior University bought a new position in Amprius Technologies in the fourth quarter worth approximately $4,081,000. Essex Investment Management Co. LLC purchased a new position in shares of Amprius Technologies during the first quarter valued at $2,508,000. Invesco Ltd. raised its holdings in shares of Amprius Technologies by 56.5% in the fourth quarter. Invesco Ltd. now owns 2,484,662 shares of the company's stock valued at $6,957,000 after acquiring an additional 897,222 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Amprius Technologies by 5,740.5% in the fourth quarter. Renaissance Technologies LLC now owns 765,100 shares of the company's stock worth $2,142,000 after acquiring an additional 752,000 shares during the period. Finally, Millennium Management LLC bought a new position in Amprius Technologies during the 4th quarter worth about $2,009,000. 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.

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