Amprius Technologies (NYSE:AMPX) Trading Down 5.5% - Here's What Happened

Key Points

• Amprius Technologies shares fell by 5.5%, trading between $6.78 and $6.97 with a significant drop in volume, marking a 60% decrease from the average.
• Several analysts upgraded the stock's rating, with William Blair moving it to "outperform" and HC Wainwright increasing the price target to $18.00.
• The company reported a quarterly earnings per share (EPS) of ($0.05), surpassing estimates, alongside a revenue of $15.07 million, exceeding expectations of $12.38 million.

Shares of Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) dropped 5.5% on Friday . The company traded as low as $6.78 and last traded at $6.97. Approximately 2,042,749 shares were traded during trading, a decline of 60% from the average daily volume of 5,113,951 shares. The stock had previously closed at $7.38.

Analyst Upgrades and Downgrades

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

Amprius Technologies Stock Performance

The firm has a market capitalization of $888.69 million, a PE ratio of -21.44 and a beta of 2.72. The company has a fifty day moving average price of $6.64 and a 200-day moving average price of $4.04.

Amprius Technologies (NYSE:AMPX - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 55.79% and a negative net margin of 84.77%. On average, equities analysts predict that Amprius Technologies, Inc. will post -0.45 earnings per share for the current year.

Insider Transactions at Amprius Technologies

In other news, CEO Kang Sun sold 65,654 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total transaction of $447,760.28. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Constantin Ionel Stefan sold 19,159 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $6.82, for a total value of $130,664.38. Following the transaction, the chief technology officer directly owned 846,975 shares in the company, valued at approximately $5,776,369.50. This represents a 2.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,203 shares of company stock valued at $772,044 in the last ninety days. Corporate insiders own 12.90% of the company's stock.

Hedge Funds Weigh In On Amprius Technologies

Several hedge funds have recently bought and sold shares of AMPX. Marshall Wace LLP bought a new position in shares of Amprius Technologies during the 4th quarter worth $150,000. Northern Trust Corp raised its stake in Amprius Technologies by 33.6% in the fourth quarter. Northern Trust Corp now owns 208,420 shares of the company's stock valued at $584,000 after buying an additional 52,370 shares during the last quarter. Utah Retirement Systems purchased a new stake in Amprius Technologies in the fourth quarter valued at about $103,000. Jane Street Group LLC acquired a new position in shares of Amprius Technologies in the fourth quarter valued at about $724,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of Amprius Technologies in the fourth quarter valued at about $28,000. Institutional investors own 5.04% of the company's stock.

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.

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