Amprius Technologies (NYSE:AMPX) Shares Down 7.9% - What's Next?

Key Points

• Amprius shares slid 7.9% intraday to about $10.05 on heavy trading of 4.66M shares (24% below its average session volume), leaving the stock with a market cap near $1.31 billion.
• Analysts hold a consensus Moderate Buy (eight Buys, one Sell) with an average price target of $14.29 and individual targets as high as $20, suggesting upside from current levels.
• Insiders have been net sellers—about 1.09M shares sold in the past three months including the CEO’s 1,000,000‑share sale at $10.60—while the company remains unprofitable despite a recent quarter that beat EPS and revenue estimates (EPS -$0.03; revenue $21.4M).

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) fell 7.9% during mid-day trading on Monday . The company traded as low as $10.00 and last traded at $10.0450. 4,659,678 shares were traded during mid-day trading, a decline of 24% from the average session volume of 6,118,109 shares. The stock had previously closed at $10.91.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AMPX. Northland Securities set a $20.00 target price on shares of Amprius Technologies in a report on Tuesday, October 7th. Roth Capital set a $14.00 price target on shares of Amprius Technologies and gave the stock a "buy" rating in a research report on Wednesday, October 22nd. Cantor Fitzgerald increased their price objective on shares of Amprius Technologies from $12.00 to $16.00 and gave the stock an "overweight" rating in a research note on Friday, November 7th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Amprius Technologies in a research report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Amprius Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $14.29.

Amprius Technologies Price Performance

The stock has a market capitalization of $1.31 billion, a P/E ratio of -38.63 and a beta of 2.94. The company's 50-day simple moving average is $11.98 and its 200-day simple moving average is $8.67.

Amprius Technologies (NYSE:AMPX - Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.03. The company had revenue of $21.43 million during the quarter, compared to the consensus estimate of $16.45 million. Amprius Technologies had a negative net margin of 53.16% and a negative return on equity of 38.85%. On average, analysts forecast that Amprius Technologies, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Kang Sun sold 1,000,000 shares of the business's stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $10.60, for a total transaction of $10,600,000.00. Following the transaction, the chief executive officer directly owned 1,472,306 shares of the company's stock, valued at approximately $15,606,443.60. The trade was a 40.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Constantin Ionel Stefan sold 25,024 shares of the stock in a transaction on Friday, November 21st. The shares were sold at an average price of $10.08, for a total value of $252,241.92. Following the completion of the sale, the chief technology officer owned 821,951 shares in the company, valued at approximately $8,285,266.08. This trade represents a 2.95% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 1,093,679 shares of company stock worth $11,544,284. Company insiders own 12.80% of the company's stock.

Hedge Funds Weigh In On Amprius Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP bought a new position in shares of Amprius Technologies in the third quarter valued at about $42,000. Jones Financial Companies Lllp grew its stake in Amprius Technologies by 353.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 4,532 shares of the company's stock valued at $50,000 after buying an additional 3,532 shares during the last quarter. Parallel Advisors LLC acquired a new position in Amprius Technologies in the 3rd quarter valued at about $54,000. Geneos Wealth Management Inc. bought a new position in Amprius Technologies in the 3rd quarter valued at about $74,000. Finally, Ameritas Investment Partners Inc. lifted its position in Amprius Technologies by 2,043.2% during the second quarter. Ameritas Investment Partners Inc. now owns 9,516 shares of the company's stock worth $40,000 after acquiring an additional 9,072 shares during the last quarter. 5.04% of the stock is currently 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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