Amprius Technologies (NYSE:AMPX) Trading Down 9.6% - Here's Why

Key Points

• Amprius Technologies shares fell by 9.6% during mid-day trading on Tuesday, closing at $12.23, with trading volume up 53% compared to its average.
• Analyst ratings show a consensus of "Moderate Buy" with a target price around $13.14, though Weiss Ratings has maintained a "sell" rating on the stock.
• Recent insider selling occurred as CFO Sandra Wallach and CEO Kang Sun sold significant shares at an average price of $6.82, indicating a decrease in their ownership percentages.

Shares of Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) fell 9.6% during mid-day trading on Tuesday . The stock traded as low as $12.05 and last traded at $12.23. 9,164,799 shares were traded during mid-day trading, an increase of 53% from the average session volume of 5,976,230 shares. The stock had previously closed at $13.53.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Northland Securities set a $20.00 price target on Amprius Technologies in a report on Tuesday, October 7th. Cantor Fitzgerald increased their target price on Amprius Technologies from $10.00 to $12.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Weiss Ratings restated a "sell (e+)" rating on shares of Amprius Technologies in a research report on Wednesday, October 8th. 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 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. Eight analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $13.14.

Amprius Technologies Stock Performance

The company has a market cap of $1.53 billion, a PE ratio of -37.06 and a beta of 2.85. The company has a fifty day moving average of $9.70 and a two-hundred day moving average of $6.10.

Amprius Technologies (NYSE:AMPX - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate 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 company had revenue of $15.07 million during the quarter, compared to analyst estimates of $12.38 million. On average, equities analysts forecast that Amprius Technologies, Inc. will post -0.45 EPS for the current year.

Insider Buying and Selling

In other Amprius Technologies news, CFO Sandra Wallach sold 28,390 shares of the firm's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $6.82, for a total value of $193,619.80. Following the completion of the sale, the chief financial officer owned 1,005,275 shares of the company's stock, valued at $6,855,975.50. This trade represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kang Sun sold 65,654 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 $447,760.28. Following the transaction, the chief executive officer owned 1,472,306 shares of the company's stock, valued at $10,041,126.92. This trade represents a 4.27% 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. 12.80% of the stock is owned by company insiders.

Institutional Trading of Amprius Technologies

Large investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its stake in Amprius Technologies by 31.1% in 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 during the period. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Amprius Technologies during the first quarter worth approximately $40,000. 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 in the last quarter. Cornerstone Partners Capital Management LLC bought a new stake in shares of Amprius Technologies during the first quarter valued at approximately $41,000. Finally, Rhumbline Advisers boosted its holdings in shares of Amprius Technologies by 61.1% in the first quarter. Rhumbline Advisers now owns 15,690 shares of the company's stock valued at $42,000 after purchasing an additional 5,951 shares during the period. 5.04% of the stock is owned by hedge funds and other 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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