Amprius Technologies (NYSE:AMPX) Stock Price Down 1.2% - Here's What Happened

Key Points

• Amprius Technologies stock dropped 1.2% to close at $7.05, with trading volume decreasing by 71% from the daily average.
• Research firms have a positive outlook on AMPX, with B. Riley raising its target price to $10.00 and a consensus average price target of $10.17.
• Recent insider sales include CFO Sandra Wallach selling 27,595 shares, indicating potential shifts in confidence among company executives.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) was down 1.2% during trading on Wednesday . The company traded as low as $7.06 and last traded at $7.05. Approximately 1,366,386 shares were traded during trading, a decline of 71% from the average daily volume of 4,741,774 shares. The stock had previously closed at $7.14.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AMPX. B. Riley restated a "buy" rating and issued a $10.00 target price (up from $6.00) on shares of Amprius Technologies in a report on Thursday, July 10th. William Blair raised Amprius Technologies from a "market perform" rating to an "outperform" rating in a research report on Friday, July 18th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $10.17.

Amprius Technologies Stock Down 2.8%

The company's 50-day moving average is $4.75 and its 200 day moving average is $3.43. The company has a market cap of $818.79 million, a price-to-earnings ratio of -17.06 and a beta of 2.68.

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

Insider Activity

In other Amprius Technologies news, CFO Sandra Wallach sold 27,595 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 $67,055.85. Following the sale, the chief financial officer directly owned 1,033,665 shares of the company's stock, valued at approximately $2,511,805.95. This represents a 2.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Constantin Ionel Stefan sold 20,366 shares of Amprius Technologies stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $2.43, for a total transaction of $49,489.38. Following the sale, the chief technology officer directly owned 866,134 shares of the company's stock, valued at approximately $2,104,705.62. This trade represents a 2.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 117,747 shares of company stock valued at $286,125. 12.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amprius Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV purchased a new position in shares of Amprius Technologies in the 4th quarter valued at about $28,000. Bank of America Corp DE lifted its stake in shares of Amprius Technologies by 31.1% during the 4th 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 during the period. Edmond DE Rothschild Holding S.A. purchased a new stake in Amprius Technologies in the 1st quarter valued at about $40,000. Cornerstone Partners Capital Management LLC purchased a new stake in shares of Amprius Technologies during the 1st quarter valued at $41,000. Finally, Rhumbline Advisers increased its position in Amprius Technologies by 61.1% during the 1st 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. Hedge funds and other institutional investors own 5.04% of the company's stock.

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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