Amprius Technologies (NYSE:AMPX) Stock Price Down 1.8% - Here's What Happened

Key Points

• Amprius Technologies stock decreased by 1.8%, trading last at $7.17, with a significant drop in trading volume compared to its average.
• Multiple analysts recently upgraded their ratings and price targets for Amprius, with an average target price now at $11.71.
• The company reported a quarterly earnings surprise, beating EPS estimates with a loss of ($0.05) compared to analysts' expectations of ($0.08).

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report)'s stock price was down 1.8% during trading on Thursday . The stock traded as low as $7.02 and last traded at $7.17. Approximately 1,262,302 shares changed hands during trading, a decline of 75% from the average daily volume of 5,115,721 shares. The stock had previously closed at $7.30.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AMPX shares. Cantor Fitzgerald boosted their price target on shares of Amprius Technologies from $10.00 to $12.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. B. Riley boosted their price objective on shares of Amprius Technologies from $10.00 to $11.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Roth Capital reiterated a "buy" rating and issued a $10.00 price target (up previously from $6.00) on shares of Amprius Technologies in a research note on Tuesday, August 5th. William Blair upgraded shares of Amprius Technologies from a "market perform" rating to an "outperform" rating in a research note on Friday, July 18th. Finally, HC Wainwright reiterated a "buy" rating and issued a $18.00 price target (up previously from $10.00) on shares of Amprius Technologies in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $11.71.

Amprius Technologies Trading Down 4.0%

The stock's 50-day simple moving average is $6.70 and its 200-day simple moving average is $4.07. The stock has a market cap of $886.19 million, a price-to-earnings ratio of -21.47 and a beta of 2.72.

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

Insider Buying and Selling

In related news, CTO Constantin Ionel Stefan sold 19,159 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $6.82, for a total transaction of $130,664.38. Following the sale, the chief technology officer owned 846,975 shares in the company, valued at approximately $5,776,369.50. This trade represents a 2.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Sandra Wallach sold 28,390 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total transaction of $193,619.80. Following the sale, the chief financial officer owned 1,005,275 shares in the company, valued at $6,855,975.50. This represents a 2.75% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,203 shares of company stock worth $772,044. Corporate insiders own 12.80% of the company's stock.

Hedge Funds Weigh In On Amprius Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC raised its stake in shares of Amprius Technologies by 17.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 19,134 shares of the company's stock valued at $81,000 after acquiring an additional 2,873 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Amprius Technologies by 31.1% during the fourth quarter. Bank of America Corp DE now owns 12,890 shares of the company's stock valued at $36,000 after acquiring an additional 3,055 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Amprius Technologies by 61.1% during the first quarter. Rhumbline Advisers now owns 15,690 shares of the company's stock valued at $42,000 after acquiring an additional 5,951 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Amprius Technologies by 2,043.2% during the second 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 during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Amprius Technologies by 1,385.4% during the second 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 during the last quarter. 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.