Amprius Technologies (NYSE:AMPX) Stock Price Down 2.5% - Here's What Happened

Key Points

• Amprius Technologies' stock (NYSE:AMPX) fell by 2.5% to trade at $10.66, with a significant trading volume increase of 20% compared to its average daily volume.
• Several research firms, including Cantor Fitzgerald and B. Riley, have recently raised their price targets for AMPX, indicating a bullish outlook with an average target price of $11.71.
• Amprius Technologies beat earnings estimates with a reported EPS of ($0.05) against a consensus of ($0.08) for the last quarter, achieving revenue of $15.07 million.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) shares dropped 2.5% during trading on Monday . The stock traded as low as $10.42 and last traded at $10.66. Approximately 6,672,339 shares changed hands during mid-day trading, an increase of 20% from the average daily volume of 5,561,323 shares. The stock had previously closed at $10.93.

Wall Street Analyst Weigh In

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

Amprius Technologies Trading Down 2.5%

The company has a market cap of $1.33 billion, a PE ratio of -32.30 and a beta of 2.72. The company's 50 day moving average is $8.21 and its 200 day moving average is $5.05.

Amprius Technologies (NYSE:AMPX - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $12.38 million. Analysts expect that Amprius Technologies, Inc. will post -0.45 EPS for the current year.

Insider Activity

In other news, CTO Constantin Ionel Stefan sold 19,159 shares of Amprius Technologies 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 completion of the sale, the chief technology officer owned 846,975 shares of the company's stock, valued at approximately $5,776,369.50. The trade was a 2.21% decrease in their ownership of the stock. 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 Amprius Technologies 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 $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. This represents a 2.75% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,203 shares of company stock valued at $772,044. Corporate insiders own 12.90% of the company's stock.

Hedge Funds Weigh In On Amprius Technologies

Large investors have recently bought and sold shares of the business. Bank of America Corp DE boosted its position 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 acquiring an additional 3,055 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in Amprius Technologies during the first quarter valued at about $40,000. Ameritas Investment Partners Inc. boosted its position in 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 purchasing an additional 9,072 shares in the last quarter. Cornerstone Partners Capital Management LLC purchased a new position in Amprius Technologies in the first quarter valued at about $41,000. Finally, Rhumbline Advisers raised its holdings in Amprius Technologies by 61.1% in the first 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. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.