Amprius Technologies (NYSE:AMPX) Stock Price Down 4.4% - Time to Sell?

Key Points

• Shares of Amprius Technologies (NYSE:AMPX) fell 4.4%, trading at $6.90, significantly below its previous close of $7.21, with a drastic decline in trading volume.
• Despite the stock's recent drop, analysts have issued multiple buy ratings for Amprius Technologies, with target prices ranging from $10 to $18, resulting in an average target price of $11.71.
• Amprius reported a revenue of $15.07 million for the quarter, exceeding analyst expectations, and its loss per share beat consensus estimates.

Shares of Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) dropped 4.4% during mid-day trading on Tuesday . The company traded as low as $6.90 and last traded at $6.90. Approximately 1,170,459 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 5,104,040 shares. The stock had previously closed at $7.21.

Analyst Ratings Changes

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

Amprius Technologies Price Performance

The business's 50 day moving average price is $6.08 and its 200 day moving average price is $3.83. The stock has a market capitalization of $854.67 million, a P/E ratio of -20.65 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, 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 company had revenue of $15.07 million during the quarter, compared to analyst estimates of $12.38 million. As a group, analysts forecast that Amprius Technologies, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Transactions at Amprius Technologies

In other news, CTO Constantin Ionel Stefan sold 20,366 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $2.43, for a total value of $49,489.38. Following the transaction, the chief technology officer directly owned 866,134 shares in the company, valued at approximately $2,104,705.62. This represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Sandra Wallach sold 27,595 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was 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 owned 1,033,665 shares in the company, valued at approximately $2,511,805.95. The trade was a 2.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 117,747 shares of company stock worth $286,125. Insiders own 12.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. lifted its position in shares of Amprius Technologies by 56.5% during the fourth quarter. Invesco Ltd. now owns 2,484,662 shares of the company's stock valued at $6,957,000 after buying an additional 897,222 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Amprius Technologies by 167.9% during the second quarter. Geode Capital Management LLC now owns 1,593,607 shares of the company's stock valued at $6,710,000 after buying an additional 998,649 shares during the last quarter. Millennium Management LLC raised its position in shares of Amprius Technologies by 94.5% in the 1st quarter. Millennium Management LLC now owns 1,396,013 shares of the company's stock valued at $3,741,000 after purchasing an additional 678,442 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Amprius Technologies by 16.1% during the 2nd quarter. Marshall Wace LLP now owns 1,105,413 shares of the company's stock worth $4,654,000 after purchasing an additional 153,476 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Amprius Technologies by 12,063.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,017,217 shares of the company's stock valued at $4,282,000 after acquiring an additional 1,008,854 shares during the period. 5.04% of the stock is currently owned by institutional investors.

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.

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