Amprius Technologies (NYSE:AMPX) Shares Gap Down - Time to Sell?

Key Points

• Amprius Technologies shares fell 7.3%, opening at $10.85 versus the previous close of $11.58, amid nearly 985,000 shares traded. The stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is broadly positive, with a MarketBeat consensus rating of “Moderate Buy” and an average price target of $23, despite one recent downgrade to “sell.” Published targets range from $24 to $33.
• Company insiders sold 310,144 shares worth approximately $5.05 million over the past 90 days. Institutional and hedge-fund ownership remains relatively limited at about 5% each.

Shares of Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $11.58, but opened at $10.85. Amprius Technologies shares last traded at $10.9860, with a volume of 985,085 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have issued reports on AMPX shares. Wall Street Zen downgraded shares of Amprius Technologies from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Northland Securities set a $24.00 target price on shares of Amprius Technologies in a research note on Monday, May 11th. JonesTrading initiated coverage on Amprius Technologies in a report on Friday, July 10th. They set a "buy" rating and a $30.00 price target on the stock. Zacks Research upgraded Amprius Technologies from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 4th. Finally, Clear Str assumed coverage on Amprius Technologies in a research note on Tuesday, June 2nd. They set a "strong-buy" rating and a $33.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $23.00.

Amprius Technologies Trading Down 7.3%

The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of -37.04 and a beta of 2.34. The stock's 50 day moving average price is $12.37 and its two-hundred day moving average price is $14.97.

Insider Activity at Amprius Technologies

In other Amprius Technologies news, Director Donald R. Dixon sold 85,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $17.17, for a total value of $1,459,450.00. Following the completion of the transaction, the director directly owned 359,380 shares of the company's stock, valued at approximately $6,170,554.60. This trade represents a 19.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kang Sun sold 67,796 shares of Amprius Technologies stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $14.79, for a total transaction of $1,002,702.84. Following the sale, the director owned 1,280,854 shares of the company's stock, valued at approximately $18,943,830.66. The trade was a 5.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 310,144 shares of company stock valued at $5,049,997. 5.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amprius Technologies

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE grew its holdings in Amprius Technologies by 31.1% during the 4th quarter. Bank of America Corp DE now owns 12,890 shares of the company's stock valued at $36,000 after buying an additional 3,055 shares during the last quarter. Quarry LP purchased a new stake in Amprius Technologies during the 3rd quarter worth about $42,000. Rhumbline Advisers raised its stake in Amprius Technologies by 61.1% in the 1st quarter. Rhumbline Advisers now owns 15,690 shares of the company's stock valued at $42,000 after purchasing an additional 5,951 shares during the last quarter. Legal & General Group Plc raised its stake in Amprius Technologies by 1,385.4% in the 2nd quarter. Legal & General Group Plc now owns 10,383 shares of the company's stock valued at $44,000 after purchasing an additional 9,684 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in Amprius Technologies in the 2nd quarter valued at about $44,000. 5.04% of the stock is owned by hedge funds and other institutional investors.

Amprius Technologies Company Profile

Amprius Technologies, Inc NYSE: AMPX is a U.S.-based developer of high-energy-density lithium-ion batteries that leverage silicon anode technology to deliver performance levels beyond conventional graphite-based cells. The company's batteries are designed to offer industry-leading gravimetric energy density, enabling longer run times and reduced weight for portable power applications. Amprius blends advanced materials science and scalable manufacturing processes to commercialize next-generation battery solutions.

At the core of Amprius' product portfolio are cylindrical and prismatic cells that employ a proprietary silicon nanowire anode, which supports high charge/discharge rates while maintaining cycle life.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source