Amprius Technologies (NYSE:AMPX) Trading Down 15.4% – Here’s What Happened

Amprius Technologies, Inc. (NYSE:AMPX)’s stock price traded down 15.4% during trading on Wednesday . The stock traded as low as $12.00 and last traded at $12.42. 15,125,492 shares were traded during mid-day trading, an increase of 67% from the average session volume of 9,076,041 shares. The stock had previously closed at $14.68.

Analysts Set New Price Targets

Several research firms have issued reports on AMPX. Weiss Ratings reissued a “sell (e+)” rating on shares of Amprius Technologies in a report on Wednesday, January 21st. Roth Mkm set a $14.00 price objective on Amprius Technologies and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Oppenheimer reissued an “outperform” rating and issued a $17.00 target price on shares of Amprius Technologies in a report on Tuesday, December 23rd. Cantor Fitzgerald raised their target price 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. Finally, Northland Securities set a $20.00 price target on shares of Amprius Technologies in a research report on Tuesday, October 7th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.57.

Amprius Technologies Stock Performance

The company has a market capitalization of $1.62 billion, a PE ratio of -47.77 and a beta of 2.99. The stock has a fifty day moving average of $10.40 and a 200 day moving average of $10.13.

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

Insider Buying and Selling at Amprius Technologies

In other news, Director Kang Sun sold 43,185 shares of Amprius Technologies stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $11.03, for a total value of $476,330.55. Following the sale, the director directly owned 1,403,651 shares of the company’s stock, valued at approximately $15,482,270.53. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Constantin Ionel Stefan sold 39,690 shares of the stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $12.00, for a total value of $476,280.00. Following the transaction, the chief technology officer directly owned 748,696 shares of the company’s stock, valued at approximately $8,984,352. The trade was a 5.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 3,399,331 shares of company stock worth $37,048,615. Corporate insiders own 12.80% of the company’s stock.

Institutional Trading of Amprius Technologies

A number of large investors have recently added to or reduced their stakes in AMPX. Stephens Investment Management Group LLC purchased a new stake in Amprius Technologies during the third quarter valued at $11,392,000. Bessemer Group Inc. purchased a new position in shares of Amprius Technologies in the 2nd quarter worth $174,000. Baird Financial Group Inc. increased its holdings in shares of Amprius Technologies by 99.9% in the 2nd quarter. Baird Financial Group Inc. now owns 1,000,711 shares of the company’s stock worth $4,213,000 after buying an additional 500,212 shares during the last quarter. Calamos Advisors LLC purchased a new stake in shares of Amprius Technologies during the 3rd quarter valued at about $1,799,000. Finally, Huntleigh Advisors Inc. purchased a new stake in shares of Amprius Technologies during the 2nd quarter valued at about $614,000. Institutional investors own 5.04% of the company’s stock.

Amprius Technologies Company Profile

Amprius Technologies, Inc (NYSE: AMPX) is a U.S.-based developer of high-energy-density lithium-ion batteries that leverage silicon anode technology to deliver performance levels beyond conventional graphite-based cells. The company’s batteries are designed to offer industry-leading gravimetric energy density, enabling longer run times and reduced weight for portable power applications. Amprius blends advanced materials science and scalable manufacturing processes to commercialize next-generation battery solutions.

At the core of Amprius’ product portfolio are cylindrical and prismatic cells that employ a proprietary silicon nanowire anode, which supports high charge/discharge rates while maintaining cycle life.