Amprius Technologies (NYSE:AMPX) Trading Down 3.1% - Here's Why

Key Points

• Amprius Technologies' shares fell 3.1%, with a recent trading price of $11.69 after closing at $12.06.
• Analysts have generally maintained a positive outlook, with several raising their target prices; Roth Capital and HC Wainwright both reaffirmed a "buy" rating, setting target prices of $10.00 and $18.00 respectively.
• Recent financial results revealed the company exceeded revenue expectations with $15.07 million for the quarter, while reporting a loss of ($0.05) EPS, beating analysts' estimates.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) shares traded down 3.1% during mid-day trading on Tuesday . The stock traded as low as $11.40 and last traded at $11.69. 10,207,764 shares were traded during trading, an increase of 85% from the average session volume of 5,519,575 shares. The stock had previously closed at $12.06.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. 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. HC Wainwright reaffirmed a "buy" rating and issued a $18.00 target price (up previously from $10.00) on shares of Amprius Technologies in a research report on Friday, August 8th. Cantor Fitzgerald increased their price objective on shares of Amprius Technologies from $10.00 to $12.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. B. Riley increased their price objective on shares of 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 shares of Amprius Technologies from a "market perform" rating to an "outperform" rating in a research report on Friday, July 18th. One 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, the company currently has a consensus rating of "Buy" and a consensus target price of $11.71.

Amprius Technologies Trading Down 3.1%

The business's fifty day moving average price is $7.91 and its 200 day moving average price is $4.73. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of -35.42 and a beta of 2.72.

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, beating analysts' consensus estimates of ($0.08) by $0.03. The business had revenue of $15.07 million for the quarter, compared to analysts' expectations of $12.38 million. Amprius Technologies had a negative net margin of 84.77% and a negative return on equity of 55.79%. As a group, sell-side analysts forecast that Amprius Technologies, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Transactions at Amprius Technologies

In other Amprius Technologies news, CFO Sandra Wallach sold 28,390 shares of Amprius Technologies stock in a transaction that occurred 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 owned 1,005,275 shares of the company's stock, valued at approximately $6,855,975.50. The trade was a 2.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kang Sun sold 65,654 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total value of $447,760.28. Following the transaction, the chief executive officer directly owned 1,472,306 shares of the company's stock, valued at approximately $10,041,126.92. This trade represents a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,203 shares of company stock worth $772,044 over the last ninety days. 12.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amprius Technologies

A number of large investors have recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC raised its stake 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 buying an additional 2,873 shares in the last quarter. Bank of America Corp DE raised its stake in shares of 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 buying an additional 3,055 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Amprius Technologies by 61.1% during the 1st quarter. Rhumbline Advisers now owns 15,690 shares of the company's stock worth $42,000 after buying an additional 5,951 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of 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 buying an additional 9,072 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Amprius Technologies by 1,385.4% during the 2nd quarter. Legal & General Group Plc now owns 10,383 shares of the company's stock worth $44,000 after buying an additional 9,684 shares in the last quarter. 5.04% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.