Amprius Technologies (NYSE:AMPX) Stock Price Down 4% - What's Next?

Key Points

• Amprius Technologies (NYSE:AMPX) saw a 4% decline in stock price to $7.15 during mid-day trading, with trading volume down 66% from its average.
• Several analysts have upgraded their price targets for Amprius Technologies, with HC Wainwright setting a target at $18.00, indicating strong confidence in the stock's potential growth.
• The company reported earnings of ($0.05) EPS, exceeding estimates and generating $15.07 million in revenue, showcasing better-than-expected financial performance.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) shares fell 4% on Friday . The company traded as low as $7.02 and last traded at $7.15. 1,717,497 shares were traded during mid-day trading, a decline of 66% from the average session volume of 5,116,173 shares. The stock had previously closed at $7.44.

Wall Street Analysts Forecast Growth

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

Amprius Technologies Stock Performance

The stock's 50 day simple moving average is $6.15 and its two-hundred day simple moving average is $3.85.

Amprius Technologies (NYSE:AMPX - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.05) EPS for the quarter, topping analysts' consensus estimates of ($0.08) by $0.03. The business had revenue of $15.07 million during the quarter, compared to the consensus estimate of $12.38 million. Amprius Technologies had a negative return on equity of 55.79% and a negative net margin of 84.77%. As a group, equities analysts expect that Amprius Technologies, Inc. will post -0.45 EPS for the current year.

Insider Transactions at Amprius Technologies

In related news, CFO Sandra Wallach sold 27,595 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $2.43, for a total transaction of $67,055.85. Following the completion of the sale, the chief financial officer owned 1,033,665 shares of the company's stock, valued at approximately $2,511,805.95. This represents a 2.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kang Sun sold 69,786 shares of Amprius Technologies stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $2.43, for a total transaction of $169,579.98. Following the transaction, the chief executive officer directly owned 1,812,235 shares in the company, valued at approximately $4,403,731.05. This trade represents a 3.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 117,747 shares of company stock worth $286,125. 12.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC grew its holdings in Amprius Technologies by 17.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 19,134 shares of the company's stock valued at $81,000 after purchasing an additional 2,873 shares in the last quarter. Bank of America Corp DE boosted its stake 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 during the last quarter. Rhumbline Advisers grew its holdings in Amprius Technologies by 61.1% during the 1st quarter. Rhumbline Advisers now owns 15,690 shares of the company's stock worth $42,000 after acquiring an additional 5,951 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Amprius Technologies by 2,043.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,516 shares of the company's stock worth $40,000 after purchasing 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% in the 2nd quarter. Legal & General Group Plc now owns 10,383 shares of the company's stock valued at $44,000 after purchasing an additional 9,684 shares in the last quarter. Institutional investors and hedge funds 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.