Amprius Technologies (NYSE:AMPX) Trading Down 4.1% - Here's Why

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.

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on AMPX shares. Roth Capital reissued a "buy" rating and issued 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 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. Cantor Fitzgerald upped 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 reaffirmed a "buy" rating and issued a $18.00 target price (up from $10.00) on shares of Amprius Technologies 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 given a Buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $11.71.

Amprius Technologies Trading Up 0.2%

The firm has a market capitalization of $963.74 million, a P/E ratio of -23.43 and a beta of 2.72. The business's 50 day simple moving average is $7.09 and its two-hundred day simple moving average is $4.23.

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. The business had revenue of $15.07 million during the quarter, compared to analyst estimates of $12.38 million. Amprius Technologies had a negative net margin of 84.77% and a negative return on equity of 55.79%. Analysts predict that Amprius Technologies, Inc. will post -0.45 EPS for the current fiscal year.

Insider Buying and Selling

In other Amprius Technologies news, CTO Constantin Ionel Stefan sold 19,159 shares of Amprius Technologies stock in a transaction that occurred 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 transaction, the chief technology officer owned 846,975 shares of the company's stock, valued at $5,776,369.50. The trade was a 2.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sandra Wallach sold 28,390 shares of Amprius Technologies stock in a transaction that occurred on Thursday, August 21st. The shares were 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 $6,855,975.50. This represents a 2.75% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,203 shares of company stock valued at $772,044. 12.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Amprius Technologies

Hedge funds have recently modified their holdings of the stock. Oppenheimer & Co. Inc. lifted its holdings in shares of Amprius Technologies by 319.4% in the first quarter. Oppenheimer & Co. Inc. now owns 491,378 shares of the company's stock worth $1,317,000 after buying an additional 374,228 shares in the last quarter. Jane Street Group LLC bought a new position in Amprius Technologies during the fourth quarter valued at $724,000. Jump Financial LLC bought a new position in Amprius Technologies during the first quarter valued at $174,000. Two Sigma Advisers LP purchased a new stake in shares of Amprius Technologies during the fourth quarter valued at $128,000. Finally, Essex Investment Management Co. LLC purchased a new stake in Amprius Technologies in the first quarter worth about $2,508,000. Hedge funds and other institutional investors own 5.04% of the company's stock.

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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