Amprius Technologies (NYSE:AMPX) Stock Price Down 5.5% - Here's Why

Key Points

• Shares fell 5.5% intraday to as low as $10.95 and last traded at $11.69 on a 64% jump in volume (10.1M shares), giving the company a market cap of about $1.46B.
• Amprius reported Q3 EPS of -$0.03 (beats -$0.06) and revenue of $21.43M (beats $16.45M) but remains unprofitable with a negative net margin of 53.16% and analysts forecast roughly -$0.45 EPS for the year.
• Analysts hold a consensus "Moderate Buy" with an average price target of $14.29 (8 Buys, 1 Sell), while insiders sold shares recently and institutional investors like Invesco have materially increased their stakes.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report)'s stock price traded down 5.5% during mid-day trading on Thursday . The company traded as low as $10.95 and last traded at $11.69. 10,117,332 shares changed hands during trading, an increase of 64% from the average session volume of 6,180,524 shares. The stock had previously closed at $12.37.

Analyst Ratings Changes

Several brokerages have recently issued reports on AMPX. Northland Securities set a $20.00 price target on shares of Amprius Technologies in a report on Tuesday, October 7th. William Blair raised shares of Amprius Technologies from a "market perform" rating to an "outperform" rating in a report on Friday, July 18th. Roth Capital set a $14.00 price target on shares of Amprius Technologies and gave the stock a "buy" rating in a research note on Wednesday, October 22nd. Weiss Ratings reiterated a "sell (e+)" rating on shares of Amprius Technologies in a research note on Wednesday, October 8th. Finally, B. Riley upped 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. Eight research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $14.29.

Amprius Technologies Trading Down 5.5%

The company's 50-day moving average price is $11.50 and its two-hundred day moving average price is $7.31. The company has a market cap of $1.46 billion, a P/E ratio of -44.96 and a beta of 2.87.

Amprius Technologies (NYSE:AMPX - Get Free Report) last released its earnings results on Thursday, November 6th. The company reported ($0.03) EPS for the quarter, topping analysts' consensus estimates of ($0.06) by $0.03. Amprius Technologies had a negative net margin of 53.16% and a negative return on equity of 38.85%. The business had revenue of $21.43 million for the quarter, compared to the consensus estimate of $16.45 million. Equities analysts forecast that Amprius Technologies, Inc. will post -0.45 earnings per share for the current year.

Insider Transactions at Amprius Technologies

In other news, CTO Constantin Ionel Stefan sold 19,159 shares of the company's stock in a transaction on Thursday, August 21st. The stock was 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 directly owned 846,975 shares of the company's stock, valued at $5,776,369.50. This represents a 2.21% 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 28,390 shares of Amprius Technologies stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $6.82, for a total value of $193,619.80. Following the completion of the transaction, the chief financial officer directly owned 1,005,275 shares in the company, valued at $6,855,975.50. This represents a 2.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 113,203 shares of company stock valued at $772,044 over the last three months. Company insiders own 12.90% of the company's stock.

Institutional Investors Weigh In On Amprius Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMPX. Quadrature Capital Ltd acquired a new stake in shares of Amprius Technologies during the 3rd quarter valued at $1,897,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Amprius Technologies during the third quarter worth $4,963,000. Invesco Ltd. grew its stake in Amprius Technologies by 113.3% in the third quarter. Invesco Ltd. now owns 2,379,384 shares of the company's stock valued at $25,031,000 after purchasing an additional 1,263,846 shares in the last quarter. Sei Investments Co. grew its stake in Amprius Technologies by 669.6% in the third quarter. Sei Investments Co. now owns 78,720 shares of the company's stock valued at $828,000 after purchasing an additional 68,491 shares in the last quarter. Finally, Capital Fund Management S.A. acquired a new position in Amprius Technologies in the 3rd quarter worth about $1,382,000. 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.

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