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 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 sale, the chief executive officer directly owned 1,472,306 shares in the company, valued at $10,041,126.92. This trade represents a 4.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Amprius Technologies Stock Performance

AMPX traded up $0.51 during trading on Monday, reaching $7.68. 6,284,845 shares of the stock traded hands, compared to its average volume of 8,006,897. The stock's 50-day moving average is $6.41 and its 200 day moving average is $3.96. Amprius Technologies, Inc. has a 12 month low of $0.61 and a 12 month high of $9.66.

Amprius Technologies (NYSE:AMPX - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.05) EPS for the quarter, beating analysts' consensus estimates 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 net margin of 84.77% and a negative return on equity of 55.79%. As a group, analysts predict that Amprius Technologies, Inc. will post -0.45 EPS for the current year.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Amprius Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in AMPX. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Amprius Technologies in the 4th quarter worth about $28,000. Bank of America Corp DE raised its holdings in shares of 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 acquiring an additional 3,055 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Amprius Technologies in the 1st quarter worth about $40,000. Ameritas Investment Partners Inc. increased its stake in Amprius Technologies by 2,043.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,516 shares of the company's stock valued at $40,000 after buying an additional 9,072 shares during the last quarter. Finally, Cornerstone Partners Capital Management LLC purchased a new stake in Amprius Technologies in the 1st quarter valued at about $41,000. Institutional investors and hedge funds 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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