Kang Sun Sells 65,654 Shares of Amprius Technologies (NYSE:AMPX) Stock

Key Points

• Kang Sun, CEO of Amprius Technologies, sold 65,654 shares of the company stock for approximately $447,760, reducing his ownership stake by 4.27% to a total of 1,472,306 shares.
• Amprius Technologies reported a quarterly revenue of $15.07 million, exceeding analysts' expectations of $12.38 million, and the company beat earnings estimates with an EPS of ($0.05) compared to the projected ($0.08).
• Equities analysts have upgraded their price targets for Amprius Technologies, with Cantor Fitzgerald raising its target from $10.00 to $12.00, while HC Wainwright set a target at $18.00, reflecting a consensus rating of "Buy" across the board.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) CEO Kang Sun sold 65,654 shares of Amprius Technologies stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $6.82, for a total transaction of $447,760.28. Following the sale, the chief executive officer owned 1,472,306 shares of the company's stock, valued at approximately $10,041,126.92. This represents a 4.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Amprius Technologies Stock Down 4.0%

Shares of AMPX traded down $0.30 during trading on Friday, reaching $7.09. 4,654,856 shares of the company traded hands, compared to its average volume of 7,651,860. Amprius Technologies, Inc. has a twelve month low of $0.61 and a twelve month high of $9.66. The stock has a market cap of $886.19 million, a PE ratio of -21.47 and a beta of 2.72. The stock has a 50-day simple moving average of $6.70 and a 200-day simple moving average of $4.06.

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 for the quarter, beating analysts' consensus estimates of ($0.08) by $0.03. The firm had revenue of $15.07 million during 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%. On average, equities research analysts predict that Amprius Technologies, Inc. will post -0.45 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AMPX shares. HC Wainwright restated a "buy" rating and issued a $18.00 price objective (up previously from $10.00) on shares of Amprius Technologies in a report on Friday, August 8th. Roth Capital restated a "buy" rating and issued a $10.00 price objective (up previously from $6.00) on shares of Amprius Technologies in a report on Tuesday, August 5th. Cantor Fitzgerald lifted their price objective on shares of Amprius Technologies from $10.00 to $12.00 and gave the company an "overweight" rating in a report on Friday, August 8th. William Blair upgraded shares of Amprius Technologies from a "market perform" rating to an "outperform" rating in a report on Friday, July 18th. Finally, B. Riley lifted their price objective on shares of Amprius Technologies from $10.00 to $11.00 and gave the company a "buy" rating in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $11.71.

Institutional Trading of Amprius Technologies

Several institutional investors have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC lifted its position 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 during the last quarter. Bank of America Corp DE lifted its position 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 during the last quarter. Rhumbline Advisers lifted its position 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 during the last quarter. Ameritas Investment Partners Inc. lifted its position 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 during the last quarter. Finally, Legal & General Group Plc lifted its position 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 during the last quarter. 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.