Amprius Technologies (NYSE:AMPX) Trading Down 14.4% – Should You Sell?

Amprius Technologies, Inc. (NYSE:AMPX) traded down 14.4% on Wednesday . The stock traded as low as $8.77 and last traded at $8.7950. 10,072,908 shares were traded during trading, an increase of 64% from the average session volume of 6,126,355 shares. The stock had previously closed at $10.28.

Analyst Upgrades and Downgrades

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

Amprius Technologies Price Performance

The firm has a market capitalization of $1.15 billion, a P/E ratio of -33.83 and a beta of 2.94. The firm has a 50-day moving average price of $11.87 and a two-hundred day moving average price of $8.77.

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

Insiders Place Their Bets

In other news, CEO Kang Sun sold 1,000,000 shares of the firm’s 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 transaction, the chief executive officer owned 1,472,306 shares in the company, valued at approximately $15,606,443.60. This trade represents a 40.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Constantin Ionel Stefan sold 198,255 shares of Amprius Technologies stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $10.51, for a total value of $2,083,660.05. Following the completion of the sale, the chief technology officer owned 748,696 shares of the company’s stock, valued at $7,868,794.96. The trade was a 20.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,291,934 shares of company stock worth $13,627,944 in the last three months. Corporate insiders own 12.80% of the company’s stock.

Hedge Funds Weigh In On Amprius Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP purchased a new position in Amprius Technologies during the third quarter valued at approximately $42,000. Jones Financial Companies Lllp boosted its position in Amprius Technologies by 353.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 4,532 shares of the company’s stock valued at $50,000 after acquiring an additional 3,532 shares in the last quarter. Parallel Advisors LLC purchased a new position in shares of Amprius Technologies in the 3rd quarter valued at $54,000. Geneos Wealth Management Inc. purchased a new position in shares of Amprius Technologies in the 3rd quarter valued at $74,000. Finally, Ameritas Investment Partners Inc. raised its position in shares of Amprius Technologies by 2,043.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,516 shares of the company’s stock worth $40,000 after acquiring an additional 9,072 shares in the last quarter. 5.04% of the stock is currently owned by 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.