Amprius Technologies (NYSE:AMPX) Stock Price Down 13.5% - Here's Why

Key Points

• Shares tumbled 13.5% intraday to as low as $10.62 (last $11.28) on ~13.19M shares traded, a 117% increase versus average volume.
• Analysts are mixed-but-lean-positive: the consensus is a "Moderate Buy" (eight Buys, one Sell) with an average price target of $13.71.
• The company recently beat quarterly revenue and EPS estimates but remains unprofitable (net margin -84.77%, ROE -55.79%), and insiders have sold stock recently (113,203 shares sold; insiders own 12.9%).

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report)'s stock price was down 13.5% during mid-day trading on Thursday . The company traded as low as $10.62 and last traded at $11.28. Approximately 13,190,316 shares changed hands during trading, an increase of 117% from the average daily volume of 6,073,991 shares. The stock had previously closed at $13.04.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AMPX shares. HC Wainwright restated a "buy" rating and set a $18.00 price target (up previously from $10.00) on shares of Amprius Technologies in a report on Friday, August 8th. Northland Securities set a $20.00 price target on Amprius Technologies in a report on Tuesday, October 7th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Amprius Technologies in a report on Wednesday, October 8th. Roth Capital set a $14.00 target price on Amprius Technologies and gave the stock a "buy" rating in a report on Wednesday, October 22nd. Finally, B. Riley upped their target price on Amprius Technologies from $10.00 to $11.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Eight analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Amprius Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $13.71.

Amprius Technologies Trading Down 13.5%

The business has a fifty day simple moving average of $10.96 and a two-hundred day simple moving average of $6.95. The stock has a market cap of $1.41 billion, a PE ratio of -34.18 and a beta of 2.87.

Amprius Technologies (NYSE:AMPX - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.05) EPS for the quarter, topping analysts' consensus estimates of ($0.08) by $0.03. Amprius Technologies had a negative return on equity of 55.79% and a negative net margin of 84.77%.The firm had revenue of $15.07 million for the quarter, compared to analysts' expectations of $12.38 million. On average, research analysts predict that Amprius Technologies, Inc. will post -0.45 earnings per share for the current year.

Insider Transactions at Amprius Technologies

In other news, CFO Sandra Wallach sold 28,390 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total value of $193,619.80. Following the sale, the chief financial officer directly owned 1,005,275 shares of the company's stock, valued at $6,855,975.50. The trade was a 2.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Constantin Ionel Stefan sold 19,159 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total value of $130,664.38. Following the completion of the sale, the chief technology officer directly owned 846,975 shares in the company, valued at approximately $5,776,369.50. This represents a 2.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 113,203 shares of company stock valued at $772,044 in the last ninety days. 12.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Amprius Technologies

Hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp boosted its position in shares of Amprius Technologies by 353.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 4,532 shares of the company's stock worth $50,000 after purchasing an additional 3,532 shares in the last quarter. Geneos Wealth Management Inc. bought a new position in Amprius Technologies in the 3rd quarter valued at approximately $74,000. Ameritas Investment Partners Inc. lifted its position in Amprius Technologies by 2,043.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,516 shares of the company's stock valued at $40,000 after acquiring an additional 9,072 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in Amprius Technologies in the 2nd quarter valued at approximately $42,000. Finally, Legal & General Group Plc lifted its position 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 acquiring an additional 9,684 shares in the last quarter. 5.04% of the stock is owned by institutional investors.

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.

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