Amprius Technologies (NYSE:AMPX) Trading Down 10.8% – What’s Next?

Shares of Amprius Technologies, Inc. (NYSE:AMPX) traded down 10.8% during trading on Tuesday . The company traded as low as $12.09 and last traded at $12.0950. 7,642,544 shares were traded during mid-day trading, an increase of 27% from the average session volume of 6,033,301 shares. The stock had previously closed at $13.56.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. William Blair upgraded shares of Amprius Technologies from a “market perform” rating to an “outperform” rating in a research note on Friday, July 18th. Roth Capital set a $14.00 target price on shares of Amprius Technologies and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. B. Riley lifted their target price on shares of Amprius Technologies from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Northland Securities set a $20.00 target price on shares of Amprius Technologies in a research note on Tuesday, October 7th. Finally, Cantor Fitzgerald raised their price target 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. Eight equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $13.71.

Amprius Technologies Trading Down 10.8%

The company has a market capitalization of $1.51 billion, a PE ratio of -36.65 and a beta of 2.87. The business’s 50-day simple moving average is $10.76 and its 200-day simple moving average is $6.84.

Amprius Technologies (NYSE:AMPX) last posted its earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. The firm 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%. Sell-side analysts forecast that Amprius Technologies, Inc. will post -0.45 EPS for the current fiscal year.

Insider Activity

In other news, 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 completion of the transaction, the chief financial officer directly owned 1,005,275 shares of the company’s stock, valued at $6,855,975.50. The trade was a 2.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 directly owned 846,975 shares of the company’s stock, valued at approximately $5,776,369.50. This trade represents a 2.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 113,203 shares of company stock valued at $772,044 in the last three months. 12.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amprius Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMPX. Bank of America Corp DE increased its holdings 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 acquiring an additional 3,055 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Amprius Technologies by 189.6% in the 1st quarter. Bank of New York Mellon Corp now owns 31,554 shares of the company’s stock worth $85,000 after acquiring an additional 20,660 shares in the last quarter. Legato Capital Management LLC purchased a new stake in Amprius Technologies in the 1st quarter worth $744,000. Essex Investment Management Co. LLC purchased a new stake in Amprius Technologies in the 1st quarter worth $2,508,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Amprius Technologies by 30.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 257,943 shares of the company’s stock worth $691,000 after acquiring an additional 59,501 shares in 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.