Amprius Technologies (NYSE:AMPX) Trading Down 2.6% - Should You Sell?

Key Points

• Amprius Technologies stock fell 2.6% on Thursday, closing at $6.91, with trading volume significantly down 80% from the average.
• Wall Street analysts have shown optimism, with multiple brokerages raising their price targets and giving Amprius a consensus target price of $11.71.
• The company reported earnings that beat analyst expectations, with revenue of $15.07 million for the quarter, surpassing estimates of $12.38 million.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) fell 2.6% on Thursday . The stock traded as low as $6.84 and last traded at $6.91. 1,002,107 shares were traded during mid-day trading, a decline of 80% from the average session volume of 5,097,120 shares. The stock had previously closed at $7.09.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AMPX. Cantor Fitzgerald raised their price target on shares of Amprius Technologies from $10.00 to $12.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. William Blair upgraded shares of Amprius Technologies from a "market perform" rating to an "outperform" rating in a research note on Friday, July 18th. B. Riley increased their price objective on shares of Amprius Technologies from $10.00 to $11.00 and gave the company a "buy" rating in a research note on Friday, August 8th. HC Wainwright reiterated a "buy" rating and issued a $18.00 price objective (up previously from $10.00) on shares of Amprius Technologies in a research note on Friday, August 8th. Finally, Roth Capital reiterated a "buy" rating and issued a $10.00 price objective (up previously from $6.00) on shares of Amprius Technologies in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. Based on data from MarketBeat, Amprius Technologies presently has an average rating of "Buy" and a consensus target price of $11.71.

Amprius Technologies Stock Performance

The company's 50 day moving average price is $6.96 and its 200-day moving average price is $4.16. The company has a market cap of $865.93 million, a PE ratio of -20.98 and a beta of 2.72.

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

Insider Activity

In other news, 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 transaction of $130,664.38. Following the completion of the transaction, the chief technology officer directly owned 846,975 shares in the company, valued at $5,776,369.50. The trade was a 2.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sandra Wallach sold 28,390 shares of Amprius Technologies stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total transaction of $193,619.80. Following the sale, the chief financial officer directly owned 1,005,275 shares of the company's stock, valued at $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 113,203 shares of company stock worth $772,044 in the last three months. Corporate insiders own 12.80% of the company's stock.

Institutional Trading of Amprius Technologies

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Amprius Technologies by 17.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 19,134 shares of the company's stock worth $81,000 after acquiring an additional 2,873 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Amprius Technologies by 31.1% during the fourth quarter. Bank of America Corp DE now owns 12,890 shares of the company's stock valued at $36,000 after acquiring an additional 3,055 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Amprius Technologies by 61.1% during the first quarter. Rhumbline Advisers now owns 15,690 shares of the company's stock valued at $42,000 after acquiring an additional 5,951 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Amprius Technologies by 2,043.2% during the second quarter. Ameritas Investment Partners Inc. now owns 9,516 shares of the company's stock valued at $40,000 after acquiring an additional 9,072 shares during the last quarter. Finally, Legal & General Group Plc increased its position 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. 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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