Amprius Technologies (NYSE:AMPX) Stock Price Down 8.3% - What's Next?

Key Points

• Amprius Technologies' stock experienced an 8.3% decline during trading, dropping to a low of $6.07, with a total of approximately 3.5 million shares changing hands.
• Despite the decline, analysts remain optimistic, with several firms maintaining a "buy" rating and an average price target of $10.17, suggesting potential upside for investors.
• Insider trading activity has been notable, with CEO Kang Sun selling nearly 70,000 shares, while overall, insiders have sold about 117,747 shares of Amprius Technologies in the last three months.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) fell 8.3% on Friday . The company traded as low as $6.07 and last traded at $6.36. 3,552,551 shares were traded during mid-day trading, a decline of 26% from the average session volume of 4,776,531 shares. The stock had previously closed at $6.93.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AMPX. B. Riley reissued a "buy" rating and issued a $10.00 target price (up previously from $6.00) on shares of Amprius Technologies in a research note on Thursday, July 10th. William Blair raised shares of Amprius Technologies from a "market perform" rating to an "outperform" rating in a research note on Friday, July 18th. Seven 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, Amprius Technologies presently has a consensus rating of "Buy" and an average target price of $10.17.

Amprius Technologies Stock Up 14.7%

The stock has a market capitalization of $860.06 million, a price-to-earnings ratio of -17.80 and a beta of 2.72. The stock's 50-day simple moving average is $5.01 and its 200 day simple moving average is $3.50.

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

Insider Buying and Selling at Amprius Technologies

In other Amprius Technologies news, CEO Kang Sun sold 69,786 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $2.43, for a total value of $169,579.98. Following the transaction, the chief executive officer directly owned 1,812,235 shares in the company, valued at $4,403,731.05. The trade was a 3.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sandra Wallach sold 27,595 shares of the business'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 completion of the transaction, 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 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. Corporate insiders own 12.80% of the company's stock.

Hedge Funds Weigh In On Amprius Technologies

A number of large investors have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC lifted its position in shares of Amprius Technologies by 17.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 19,134 shares of the company's stock worth $81,000 after purchasing an additional 2,873 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Amprius Technologies by 31.1% during 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. Rhumbline Advisers lifted its position 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 purchasing an additional 5,951 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Amprius Technologies during the fourth quarter worth approximately $28,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Amprius Technologies during the second quarter worth approximately $42,000. 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.