Amprius Technologies (NYSE:AMPX) Stock Price Down 2.5% - Time to Sell?

Key Points

• Amprius Technologies' stock fell by 2.5% to $6.76, with trading volume declining by 73% compared to the average session volume.
• Wall Street analysts have a favorable outlook for Amprius Technologies, with several upgrades and an average price target of $11.71.
• Recent insider trading activity showed CFO and CTO selling shares, resulting in a 2.75% and 2.21% decrease in their ownership, respectively.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report)'s stock price fell 2.5% on Friday . The company traded as low as $6.68 and last traded at $6.76. 1,384,150 shares changed hands during trading, a decline of 73% from the average session volume of 5,099,962 shares. The stock had previously closed at $6.93.

Analyst Upgrades and Downgrades

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

Amprius Technologies Trading Up 2.4%

The firm has a market cap of $887.44 million, a PE ratio of -21.50 and a beta of 2.72. The company's 50-day moving average is $7.02 and its 200 day moving average is $4.20.

Amprius Technologies (NYSE:AMPX - Get Free Report) last released 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 company had revenue of $15.07 million during the quarter, compared to the consensus estimate of $12.38 million. On average, research analysts predict that Amprius Technologies, Inc. will post -0.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other Amprius Technologies news, CEO Kang Sun sold 65,654 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 value of $447,760.28. Following the completion of the sale, the chief executive officer owned 1,472,306 shares in the company, valued at $10,041,126.92. This represents a 4.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 completion of the sale, the chief financial officer owned 1,005,275 shares of the company's stock, valued at approximately $6,855,975.50. The trade was a 2.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,203 shares of company stock worth $772,044 in the last quarter. 12.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amprius Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its holdings in shares of Amprius Technologies by 12,063.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,017,217 shares of the company's stock valued at $4,282,000 after purchasing an additional 1,008,854 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Amprius Technologies by 167.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,593,607 shares of the company's stock valued at $6,710,000 after purchasing an additional 998,649 shares in the last quarter. Essex Investment Management Co. LLC bought a new position in shares of Amprius Technologies during the 1st quarter valued at $2,508,000. Millennium Management LLC bought a new position in shares of Amprius Technologies during the 4th quarter valued at $2,009,000. Finally, Baird Financial Group Inc. bought a new position in shares of Amprius Technologies during the 1st quarter valued at $1,341,000. 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.