Amprius Technologies (NYSE:AMPX) Stock Price Down 4% - Should You Sell?

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) was down 4% during mid-day trading on Friday . The stock traded as low as $7.02 and last traded at $7.15. Approximately 1,717,497 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 5,116,173 shares. The stock had previously closed at $7.44.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AMPX shares. HC Wainwright reissued a "buy" rating and set a $18.00 price target (up previously from $10.00) on shares of Amprius Technologies in a research note on Friday, August 8th. Cantor Fitzgerald lifted their target price on Amprius Technologies from $10.00 to $12.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Roth Capital reissued a "buy" rating and set a $10.00 price target (up from $6.00) on shares of Amprius Technologies in a report on Tuesday, August 5th. B. Riley upped their price target on Amprius Technologies from $10.00 to $11.00 and gave the company a "buy" rating in a report on Friday, August 8th. Finally, William Blair raised Amprius Technologies from a "market perform" rating to an "outperform" rating in a research note on Friday, July 18th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $11.71.

Amprius Technologies Stock Performance

The stock has a 50-day simple moving average of $5.91 and a 200 day simple moving average of $3.77. The stock has a market capitalization of $849.69 million, a P/E ratio of -21.95 and a beta of 2.72.

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

Insider Buying and Selling

In other news, CEO Kang Sun sold 69,786 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $2.43, for a total value of $169,579.98. Following the sale, the chief executive officer directly owned 1,812,235 shares in the company, valued at $4,403,731.05. The trade was a 3.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Sandra Wallach sold 27,595 shares of the firm's stock in a transaction 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 transaction, the chief financial officer directly owned 1,033,665 shares of the company's stock, valued at approximately $2,511,805.95. This trade represents a 2.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 117,747 shares of company stock worth $286,125 over the last ninety days. Company insiders own 12.90% of the company's stock.

Hedge Funds Weigh In On Amprius Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. increased its position in Amprius Technologies by 2,043.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,516 shares of the company's stock worth $40,000 after buying an additional 9,072 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in Amprius Technologies in the fourth quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Amprius Technologies during the second quarter worth $42,000. Legal & General Group Plc grew its position in Amprius Technologies by 1,385.4% during the 2nd quarter. Legal & General Group Plc now owns 10,383 shares of the company's stock worth $44,000 after acquiring an additional 9,684 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in Amprius Technologies in the 2nd quarter valued at approximately $44,000. 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.

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