Amprius Technologies (NYSE:AMPX) Shares Down 6.8% - Here's Why

Key Points

• Amprius Technologies' shares fell 6.8% to $11.94 during trading, marking a significant increase in volume with approximately 11.7 million shares traded, compared to the average daily volume of 5.8 million shares.
• Analysts have mixed ratings on AMPX, with eight ratings classifying it as "Buy" and one as "Sell"; the consensus target price stands at $13.14.
• The company recently reported earnings, with an EPS of ($0.05), exceeding expectations, alongside a revenue of $15.07 million, outperforming the consensus estimate.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) dropped 6.8% during trading on Friday . The stock traded as low as $11.82 and last traded at $11.94. Approximately 11,745,675 shares traded hands during trading, an increase of 104% from the average daily volume of 5,754,007 shares. The stock had previously closed at $12.81.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AMPX shares. Weiss Ratings reissued a "sell (e+)" rating on shares of Amprius Technologies in a research note on Wednesday. Northland Securities set a $20.00 target price on shares of Amprius Technologies in a research note on Tuesday. William Blair raised shares of Amprius Technologies from a "market perform" rating to an "outperform" rating in a research note on Friday, July 18th. B. Riley boosted their target price on shares of Amprius Technologies from $10.00 to $11.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Finally, HC Wainwright reissued a "buy" rating and set a $18.00 target price (up from $10.00) on shares of Amprius Technologies in a research note on Friday, August 8th. Eight analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Amprius Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $13.14.

Amprius Technologies Price Performance

The firm has a fifty day moving average of $8.95 and a two-hundred day moving average of $5.56. The stock has a market capitalization of $1.49 billion, a P/E ratio of -36.18 and a beta of 2.85.

Amprius Technologies (NYSE:AMPX - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. The firm had revenue of $15.07 million during 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, sell-side analysts forecast that Amprius Technologies, Inc. will post -0.45 EPS for the current fiscal year.

Insider Activity at Amprius Technologies

In other Amprius Technologies news, CFO Sandra Wallach sold 28,390 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 $193,619.80. Following the completion of the transaction, the chief financial officer directly owned 1,005,275 shares in the company, valued at approximately $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 SEC, which can be accessed through the SEC website. 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 transaction, the chief technology officer owned 846,975 shares of the company's stock, 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. Insiders sold 113,203 shares of company stock worth $772,044 over the last three months. 12.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amprius Technologies

A number of large investors have recently added to or reduced their stakes in AMPX. Bank of America Corp DE raised its holdings in Amprius Technologies by 31.1% in the fourth quarter. Bank of America Corp DE now owns 12,890 shares of the company's stock worth $36,000 after purchasing an additional 3,055 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in Amprius Technologies in the first quarter worth about $40,000. Ameritas Investment Partners Inc. raised its holdings 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 in the last quarter. Cornerstone Partners Capital Management LLC bought a new position in Amprius Technologies in the first quarter worth about $41,000. Finally, Rhumbline Advisers grew its stake in shares of Amprius Technologies by 61.1% during the first quarter. Rhumbline Advisers now owns 15,690 shares of the company's stock worth $42,000 after acquiring an additional 5,951 shares during the last quarter. 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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