Amprius Technologies (NYSE:AMPX) Shares Down 8.1% - Should You Sell?

Key Points

• Amprius Technologies saw its stock price decrease by 8.1%, trading down from a previous close of $7.76 to $7.13.
• Despite the stock's decline, Wall Street analysts remain optimistic, with eight giving it a "buy" rating and a consensus price target of $11.71.
• The company reported positive earnings of ($0.05) per share, exceeding estimates, along with revenues of $15.07 million in the last quarter.

Shares of Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) were down 8.1% on Wednesday . The company traded as low as $7.20 and last traded at $7.13. Approximately 3,451,798 shares were traded during trading, a decline of 32% from the average daily volume of 5,069,780 shares. The stock had previously closed at $7.76.

Analysts Set New Price Targets

A number of research analysts have weighed in on AMPX shares. HC Wainwright reaffirmed a "buy" rating and set a $18.00 target price (up previously from $10.00) on shares of Amprius Technologies in a report on Friday, August 8th. William Blair raised Amprius Technologies from a "market perform" rating to an "outperform" rating in a report on Friday, July 18th. Roth Capital reaffirmed a "buy" rating and set a $10.00 target price (up previously from $6.00) on shares of Amprius Technologies in a report on Tuesday, August 5th. Cantor Fitzgerald boosted their price objective on Amprius Technologies from $10.00 to $12.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Finally, B. Riley boosted their price objective on Amprius Technologies from $10.00 to $11.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, 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 moving average of $6.00 and a two-hundred day moving average of $3.80. The company has a market cap of $884.32 million, a P/E ratio of -21.42 and a beta of 2.72.

Amprius Technologies (NYSE:AMPX - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share for the quarter, topping analysts' consensus estimates of ($0.08) by $0.03. The company 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, sell-side analysts forecast that Amprius Technologies, Inc. will post -0.45 EPS for the current fiscal year.

Insider Buying and Selling

In other Amprius Technologies news, CEO Kang Sun sold 69,786 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $2.43, for a total value of $169,579.98. Following the completion of the sale, the chief executive officer owned 1,812,235 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, CTO Constantin Ionel Stefan sold 20,366 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $2.43, for a total value of $49,489.38. Following the completion of the sale, the chief technology officer owned 866,134 shares of the company's stock, valued at $2,104,705.62. The trade was a 2.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 117,747 shares of company stock worth $286,125 in the last quarter. 12.90% of the stock is owned by insiders.

Institutional Trading of Amprius Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC lifted its position in Amprius Technologies by 17.7% in the second 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 during the last quarter. Bank of America Corp DE lifted its position in Amprius Technologies by 31.1% in the fourth quarter. Bank of America Corp DE now owns 12,890 shares of the company's stock valued at $36,000 after purchasing an additional 3,055 shares during the last quarter. Rhumbline Advisers lifted its position in Amprius Technologies by 61.1% in the first quarter. Rhumbline Advisers now owns 15,690 shares of the company's stock valued at $42,000 after purchasing an additional 5,951 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in Amprius Technologies by 2,043.2% in the second quarter. Ameritas Investment Partners Inc. now owns 9,516 shares of the company's stock valued at $40,000 after purchasing an additional 9,072 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Amprius Technologies by 1,385.4% during the second quarter. Legal & General Group Plc now owns 10,383 shares of the company's stock valued at $44,000 after buying an additional 9,684 shares during the period. 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.