Insider Selling: Amprius Technologies (NYSE:AMPX) CEO Sells 1,000,000 Shares of Stock

Amprius Technologies, Inc. (NYSE:AMPX) CEO Kang Sun sold 1,000,000 shares of Amprius Technologies stock in a transaction on Monday, November 17th. The stock was sold at an average price of $10.60, for a total transaction of $10,600,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,472,306 shares in the company, valued at $15,606,443.60. This represents a 40.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Kang Sun also recently made the following trade(s):

• On Thursday, August 21st, Kang Sun sold 65,654 shares of Amprius Technologies stock. The shares were sold at an average price of $6.82, for a total value of $447,760.28.

Amprius Technologies Stock Performance

AMPX stock traded up $0.19 on Wednesday, hitting $10.86. 4,855,057 shares of the company’s stock were exchanged, compared to its average volume of 6,192,782. The firm has a 50 day moving average price of $11.86 and a two-hundred day moving average price of $7.62. Amprius Technologies, Inc. has a 12-month low of $1.63 and a 12-month high of $16.03. The stock has a market cap of $1.42 billion, a P/E ratio of -41.78 and a beta of 2.87.

Amprius Technologies (NYSE:AMPX) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.03. Amprius Technologies had a negative return on equity of 38.85% and a negative net margin of 53.16%.The company had revenue of $21.43 million during the quarter, compared to analysts’ expectations of $16.45 million. Sell-side analysts expect that Amprius Technologies, Inc. will post -0.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AMPX. HC Wainwright reiterated a “buy” rating and issued a $18.00 target price (up from $10.00) on shares of Amprius Technologies in a research note on Friday, August 8th. Cantor Fitzgerald lifted their price objective on shares of Amprius Technologies from $12.00 to $16.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of Amprius Technologies in a report on Wednesday, October 8th. B. Riley raised their target price on Amprius Technologies from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Finally, Roth Capital set a $14.00 price target on Amprius Technologies and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $14.29.

Institutional Investors Weigh In On Amprius Technologies

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Amprius Technologies by 37.0% during the 3rd quarter. Vanguard Group Inc. now owns 6,512,620 shares of the company’s stock worth $68,513,000 after purchasing an additional 1,757,395 shares during the period. Invesco Ltd. lifted its holdings in shares of Amprius Technologies by 113.3% in the 3rd quarter. Invesco Ltd. now owns 2,379,384 shares of the company’s stock valued at $25,031,000 after buying an additional 1,263,846 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Amprius Technologies by 1,117.9% in the third quarter. BNP Paribas Financial Markets now owns 1,943,905 shares of the company’s stock worth $20,450,000 after buying an additional 1,784,291 shares during the last quarter. Voloridge Investment Management LLC purchased a new stake in shares of Amprius Technologies in the third quarter worth about $19,737,000. Finally, Two Sigma Investments LP grew its holdings in Amprius Technologies by 24.2% during the third quarter. Two Sigma Investments LP now owns 1,753,577 shares of the company’s stock worth $18,448,000 after acquiring an additional 341,969 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.