Amprius Technologies (NYSE:AMPX) Shares Down 1.2% - Time to Sell?

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)'s stock price traded down 1.2% on Wednesday . The stock traded as low as $7.06 and last traded at $7.05. 1,366,386 shares traded hands during trading, a decline of 71% from the average session volume of 4,741,774 shares. The stock had previously closed at $7.14.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. William Blair raised Amprius Technologies from a "market perform" rating to an "outperform" rating in a report on Friday, July 18th. B. Riley reissued 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. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $10.17.

Amprius Technologies Trading Down 8.2%

The stock has a fifty day moving average price of $5.01 and a 200-day moving average price of $3.50. The firm has a market capitalization of $750.03 million, a price-to-earnings ratio of -15.51 and a beta of 2.71.

Amprius Technologies (NYSE:AMPX - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping 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 business had revenue of $11.28 million during the quarter, compared to analysts' expectations of $8.52 million. On average, equities analysts expect that Amprius Technologies, Inc. will post -0.45 EPS for the current year.

Insider Buying and Selling at Amprius Technologies

In other Amprius Technologies news, CFO Sandra Wallach sold 27,595 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 value 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. The trade was a 2.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Constantin Ionel Stefan sold 20,366 shares of Amprius Technologies stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $2.43, for a total value of $49,489.38. Following the completion of the transaction, the chief technology officer owned 866,134 shares of the company's stock, valued at approximately $2,104,705.62. The trade was a 2.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 117,747 shares of company stock worth $286,125. 12.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amprius Technologies

Several institutional investors have recently bought and sold shares of the business. Invesco Ltd. increased its stake in shares of Amprius Technologies by 56.5% in the 4th quarter. Invesco Ltd. now owns 2,484,662 shares of the company's stock valued at $6,957,000 after buying an additional 897,222 shares during the period. Board of Trustees of The Leland Stanford Junior University acquired a new stake in shares of Amprius Technologies in the 4th quarter valued at $4,081,000. Millennium Management LLC increased its stake in shares of Amprius Technologies by 94.5% in the 1st quarter. Millennium Management LLC now owns 1,396,013 shares of the company's stock valued at $3,741,000 after buying an additional 678,442 shares during the period. Essex Investment Management Co. LLC acquired a new stake in shares of Amprius Technologies in the 1st quarter valued at $2,508,000. Finally, Renaissance Technologies LLC increased its stake in shares of Amprius Technologies by 5,740.5% in the 4th quarter. Renaissance Technologies LLC now owns 765,100 shares of the company's stock valued at $2,142,000 after buying an additional 752,000 shares during the period. Institutional investors own 5.04% of the company's stock.

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.