Amprius Technologies (NYSE:AMPX) Stock Price Down 2.4% - Should You Sell?

Key Points

• Amprius Technologies shares fell 2.4% during trading, closing at $7.87, with trading volume dropping by 11% from its average.
• Research analysts have upgraded their ratings for Amprius Technologies, with price targets ranging from $10.00 to $18.00 and a consensus target of $11.71.
• Despite posting a net loss, Amprius reported better-than-expected earnings of ($0.05) per share and revenue of $15.07 million, surpassing analyst estimates.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) shares dropped 2.4% on Monday . The company traded as low as $7.85 and last traded at $7.87. Approximately 4,448,942 shares changed hands during trading, a decline of 11% from the average daily volume of 5,015,372 shares. The stock had previously closed at $8.06.

Analyst Ratings Changes

AMPX has been the topic of a number of recent analyst reports. Cantor Fitzgerald boosted their target price on shares of Amprius Technologies from $10.00 to $12.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. HC Wainwright reissued a "buy" rating and set a $18.00 price target (up previously from $10.00) on shares of Amprius Technologies in a research report on Friday, August 8th. Roth Capital reissued a "buy" rating and set a $10.00 price target (up previously from $6.00) on shares of Amprius Technologies in a research report on Tuesday, August 5th. B. Riley boosted their price target on Amprius Technologies from $10.00 to $11.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Finally, William Blair raised Amprius Technologies from a "market perform" rating to an "outperform" rating in a research report on Friday, July 18th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Amprius Technologies presently has a consensus rating of "Buy" and an average target price of $11.71.

Amprius Technologies Price Performance

The firm has a market capitalization of $852.02 million, a P/E ratio of -21.95 and a beta of 2.72. The business's 50-day moving average is $5.82 and its 200 day moving average is $3.74.

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

Insider Activity

In other news, CTO Constantin Ionel Stefan sold 20,366 shares of the firm'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 sale, the chief technology officer directly owned 866,134 shares in the company, valued at approximately $2,104,705.62. This trade represents a 2.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kang Sun sold 69,786 shares of the firm'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 transaction 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 disclosure for this sale can be found here. In the last three months, insiders have sold 117,747 shares of company stock worth $286,125. Corporate insiders own 12.90% of the company's stock.

Institutional Investors Weigh In On Amprius Technologies

Hedge funds have recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV acquired a new stake in Amprius Technologies during the 4th quarter worth approximately $28,000. Bank of America Corp DE raised its holdings in Amprius Technologies by 31.1% during the 4th quarter. Bank of America Corp DE now owns 12,890 shares of the company's stock worth $36,000 after purchasing an additional 3,055 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in Amprius Technologies during the 1st quarter worth approximately $40,000. Ameritas Investment Partners Inc. raised its holdings in Amprius Technologies by 2,043.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,516 shares of the company's stock worth $40,000 after purchasing an additional 9,072 shares during the last quarter. Finally, Cornerstone Partners Capital Management LLC bought a new position in Amprius Technologies during the 1st quarter worth approximately $41,000. 5.04% of the stock is currently owned by institutional investors and hedge funds.

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.