Amprius Technologies (NYSE:AMPX) Shares Down 4.1% - Here's What Happened

Key Points

• Amprius Technologies' share price fell by 4.1% to $7.38, with trading volume declining by 49% compared to its average.
• Analysts maintain a consensus rating of “Buy” for Amprius, with an average price target of $11.71, showing confidence in the company's growth potential.
• Insider selling occurred recently, with the CTO and CFO both offloading shares, contributing to a 2.21% and 2.75% decrease in their holdings, respectively.

Shares of Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) were down 4.1% during trading on Tuesday . The stock traded as low as $7.36 and last traded at $7.38. Approximately 2,640,478 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 5,132,567 shares. The stock had previously closed at $7.69.

Analyst Ratings Changes

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

Amprius Technologies Trading Down 0.5%

The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -24.55 and a beta of 2.72. The firm's 50 day simple moving average is $7.37 and its 200-day simple moving average is $4.36.

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, beating the consensus estimate of ($0.08) by $0.03. The company 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 EPS for the current fiscal year.

Insider Transactions at Amprius Technologies

In other news, CEO Kang Sun sold 65,654 shares of the company'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 $447,760.28. Following the transaction, the chief executive officer directly owned 1,472,306 shares of the company's stock, valued at $10,041,126.92. This represents a 4.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sandra Wallach sold 28,390 shares of the company'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 $193,619.80. Following the transaction, the chief financial officer directly owned 1,005,275 shares in the company, valued at approximately $6,855,975.50. This trade represents a 2.75% 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 valued at $772,044 in the last ninety days. 12.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amprius Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC grew 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 purchasing an additional 2,873 shares during the period. Bank of America Corp DE grew 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 purchasing an additional 3,055 shares during the period. Rhumbline Advisers grew 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 purchasing an additional 5,951 shares during the period. Ameritas Investment Partners Inc. grew 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 purchasing an additional 9,072 shares during the period. Finally, Legal & General Group Plc grew 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 purchasing an additional 9,684 shares during the period. 5.04% of the stock is owned by institutional investors and hedge funds.

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.