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

Key Points

• Amprius Technologies shares gapped down on Friday, opening at $6.45 compared to a previous close of $6.93, and last traded at $6.33 with over 2 million shares exchanged.
• Recent analyst ratings have been positive, with William Blair upgrading the stock to "outperform" and B. Riley maintaining a "buy" rating with a target price of $10.00, indicating confidence in the company's performance.
• Insider trading activity saw CEO Kang Sun and CTO Constantin Ionel Stefan sell shares at approximately $2.43 each, slightly reducing their ownership in the company while institutional investors have been increasing their positions significantly.

Shares of Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $6.93, but opened at $6.45. Amprius Technologies shares last traded at $6.33, with a volume of 2,037,706 shares traded.

Analyst Upgrades and Downgrades

AMPX has been the topic of a number of recent research reports. William Blair upgraded shares of Amprius Technologies from a "market perform" rating to an "outperform" rating in a research note on Friday, July 18th. B. Riley restated a "buy" rating and set a $10.00 target price (up from $6.00) on shares of Amprius Technologies in a research note on Thursday, July 10th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $10.17.

Amprius Technologies Price Performance

The company has a market capitalization of $750.03 million, a PE ratio of -15.51 and a beta of 2.71. The company'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 announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.01. The company 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%. On average, equities analysts forecast that Amprius Technologies, Inc. will post -0.45 EPS for the current year.

Insider Activity

In other news, CTO Constantin Ionel Stefan sold 20,366 shares of the 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 $49,489.38. Following the completion of the sale, the chief technology officer directly owned 866,134 shares of the company's stock, valued at approximately $2,104,705.62. This represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kang Sun sold 69,786 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $2.43, for a total value of $169,579.98. Following the completion of the sale, the chief executive officer directly owned 1,812,235 shares of the company's stock, valued at $4,403,731.05. The trade was a 3.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 117,747 shares of company stock valued at $286,125. 12.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amprius Technologies

Large investors have recently modified their holdings of the company. Oppenheimer & Co. Inc. boosted its holdings in shares of Amprius Technologies by 319.4% in the first quarter. Oppenheimer & Co. Inc. now owns 491,378 shares of the company's stock valued at $1,317,000 after acquiring an additional 374,228 shares during the period. Jane Street Group LLC acquired a new stake in shares of Amprius Technologies during the fourth quarter worth $724,000. Two Sigma Advisers LP acquired a new stake in shares of Amprius Technologies during the fourth quarter worth $128,000. Geode Capital Management LLC lifted its holdings in shares of Amprius Technologies by 6.0% during the fourth quarter. Geode Capital Management LLC now owns 580,819 shares of the company's stock worth $1,626,000 after purchasing an additional 32,681 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Amprius Technologies by 5,740.5% during the fourth quarter. Renaissance Technologies LLC now owns 765,100 shares of the company's stock worth $2,142,000 after purchasing an additional 752,000 shares during the period. 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.