Amprius Technologies (NYSE:AMPX) Trading Down 2.1% – Time to Sell?

Amprius Technologies, Inc. (NYSE:AMPX)’s stock price dropped 2.1% during trading on Friday . The company traded as low as $9.36 and last traded at $10.08. Approximately 7,557,216 shares were traded during mid-day trading, an increase of 22% from the average daily volume of 6,204,259 shares. The stock had previously closed at $10.30.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Amprius Technologies in a research note on Wednesday, October 8th. Roth Capital set a $14.00 target price on Amprius Technologies and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Northland Securities set a $20.00 price target on Amprius Technologies in a research report on Tuesday, October 7th. B. Riley increased their price target 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, Cantor Fitzgerald lifted their price objective on Amprius Technologies from $12.00 to $16.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $14.29.

Amprius Technologies Stock Down 2.1%

The firm has a 50-day simple moving average of $11.90 and a 200-day simple moving average of $7.63. The stock has a market cap of $1.32 billion, a PE ratio of -38.77 and a beta of 2.87.

Amprius Technologies (NYSE:AMPX) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate 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. On average, research analysts expect that Amprius Technologies, Inc. will post -0.45 earnings per share for the current year.

Insider Buying and Selling at Amprius Technologies

In other news, CEO Kang Sun sold 1,000,000 shares of the company’s stock in a transaction dated 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 sale, 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 sale was disclosed in a filing with the SEC, which is available at this link. 12.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amprius Technologies

Several hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased its holdings in 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 acquiring an additional 3,055 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Amprius Technologies by 189.6% in the first quarter. Bank of New York Mellon Corp now owns 31,554 shares of the company’s stock worth $85,000 after purchasing an additional 20,660 shares during the period. Legato Capital Management LLC bought a new position in shares of Amprius Technologies in the first quarter worth $744,000. Essex Investment Management Co. LLC purchased a new stake in shares of Amprius Technologies in the first quarter worth $2,508,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Amprius Technologies by 30.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 257,943 shares of the company’s stock worth $691,000 after buying 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.