Amprius Technologies (NYSE:AMPX) Stock Price Down 5.5% - What's Next?

Key Points

• Amprius Technologies (NYSE:AMPX) stock dropped by 5.5% during mid-day trading, reaching a low of $12.65 before closing at $12.70 amidst a significant trading volume increase of 81% compared to its average.
• Brokerage reports presented a mixed outlook, with Weiss Ratings maintaining a "sell" rating, whereas B. Riley and William Blair upgraded their ratings and price targets, reflecting varied assessments among analysts.
• The company recently reported a fiscal quarter with a revenue of $15.07 million, surpassing analysts' expectations, but held a negative return on equity of 55.79%, indicating financial challenges despite positive revenue growth.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) shares fell 5.5% during mid-day trading on Tuesday . The stock traded as low as $12.65 and last traded at $12.70. 10,310,509 shares changed hands during trading, an increase of 81% from the average session volume of 5,707,427 shares. The stock had previously closed at $13.44.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AMPX. Weiss Ratings reissued a "sell (e+)" rating on shares of Amprius Technologies in a research note on Saturday, September 27th. B. Riley raised 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. William Blair upgraded Amprius Technologies from a "market perform" rating to an "outperform" rating in a report on Friday, July 18th. Roth Capital restated a "buy" rating and set a $10.00 price target (up previously from $6.00) on shares of Amprius Technologies in a report on Tuesday, August 5th. Finally, Northland Securities set a $20.00 price target on Amprius Technologies in a report on Tuesday. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Amprius Technologies currently has an average rating of "Moderate Buy" and an average target price of $13.14.

Amprius Technologies Stock Performance

The stock has a market cap of $1.59 billion, a PE ratio of -38.48 and a beta of 2.85. The stock has a fifty day moving average price of $8.62 and a 200 day moving average price of $5.40.

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

Insider Activity at Amprius Technologies

In related news, CEO Kang Sun sold 65,654 shares of the business'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 $447,760.28. Following the completion of the transaction, the chief executive officer owned 1,472,306 shares in the company, valued at $10,041,126.92. The trade was a 4.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Constantin Ionel Stefan sold 19,159 shares of the business's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $6.82, for a total value of $130,664.38. Following the transaction, the chief technology officer owned 846,975 shares of the company's stock, valued at approximately $5,776,369.50. The trade was a 2.21% 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. 12.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. B. Riley Wealth Advisors Inc. bought a new position in shares of Amprius Technologies in the 2nd quarter worth $213,000. BNP Paribas Financial Markets increased its position in Amprius Technologies by 2,677.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 159,614 shares of the company's stock valued at $672,000 after buying an additional 153,867 shares in the last quarter. Bank of America Corp DE increased its position in Amprius Technologies by 50.7% during the 2nd quarter. Bank of America Corp DE now owns 126,779 shares of the company's stock valued at $534,000 after buying an additional 42,625 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Amprius Technologies by 419.1% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,041 shares of the company's stock valued at $215,000 after buying an additional 41,208 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in Amprius Technologies during the 2nd quarter valued at about $144,000. 5.04% of the stock is owned by institutional investors.

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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