Amprius Technologies (NYSE:AMPX) Trading Down 1.6% - What's Next?

Key Points

• Amprius Technologies' stock price decreased by 1.6% to $10.50, amidst an increased trading volume of 40% compared to the average session.
• Analysts are optimistic about Amprius, with a consensus buy rating and a target price of $11.71, reflecting potential for significant stock appreciation.
• Insider transactions indicate a recent decrease in ownership by executive leadership, with shares sold at $6.82 each, which may influence market perception.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report)'s share price fell 1.6% on Tuesday . The company traded as low as $10.05 and last traded at $10.50. 7,799,962 shares were traded during trading, an increase of 40% from the average session volume of 5,573,407 shares. The stock had previously closed at $10.67.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AMPX. William Blair upgraded Amprius Technologies from a "market perform" rating to an "outperform" rating in a research report on Friday, July 18th. HC Wainwright reissued a "buy" rating and issued a $18.00 price objective (up from $10.00) on shares of Amprius Technologies in a report on Friday, August 8th. Roth Capital reissued a "buy" rating and issued a $10.00 price objective (up from $6.00) on shares of Amprius Technologies in a report on Tuesday, August 5th. Cantor Fitzgerald increased 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 increased 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. One equities research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $11.71.

Amprius Technologies Stock Performance

The business has a 50 day simple moving average of $8.21 and a 200-day simple moving average of $5.05. The stock has a market capitalization of $1.31 billion, a P/E ratio of -31.80 and a beta of 2.72.

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

Insider Transactions at Amprius Technologies

In other news, CTO Constantin Ionel Stefan sold 19,159 shares of the firm'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 trade represents a 2.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Sandra Wallach sold 28,390 shares of the firm's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total value of $193,619.80. Following the sale, the chief financial officer directly owned 1,005,275 shares of the company's stock, valued at approximately $6,855,975.50. This represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,203 shares of company stock valued at $772,044 in the last three months. 12.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amprius Technologies

Several large investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake in shares of Amprius Technologies by 167.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,593,607 shares of the company's stock worth $6,710,000 after acquiring an additional 998,649 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Amprius Technologies by 94.5% in the first 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 in the last quarter. Marshall Wace LLP lifted its holdings in shares of Amprius Technologies by 16.1% in the second quarter. Marshall Wace LLP now owns 1,105,413 shares of the company's stock valued at $4,654,000 after purchasing an additional 153,476 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Amprius Technologies by 12,063.3% in the second quarter. JPMorgan Chase & Co. now owns 1,017,217 shares of the company's stock valued at $4,282,000 after purchasing an additional 1,008,854 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its holdings in shares of Amprius Technologies by 99.9% in the second quarter. Baird Financial Group Inc. now owns 1,000,711 shares of the company's stock valued at $4,213,000 after purchasing an additional 500,212 shares in the last quarter. 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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