Amprius Technologies (NYSE:AMPX) Stock Price Down 4.8% – Time to Sell?

Amprius Technologies, Inc. (NYSE:AMPX)’s share price was down 4.8% during trading on Tuesday . The company traded as low as $12.17 and last traded at $12.94. Approximately 9,125,075 shares traded hands during mid-day trading, an increase of 48% from the average daily volume of 6,145,893 shares. The stock had previously closed at $13.59.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AMPX shares. Cantor Fitzgerald raised their price target on shares of Amprius Technologies from $12.00 to $16.00 and gave the company an “overweight” rating in a report on Friday. Northland Securities set a $20.00 target price on shares of Amprius Technologies in a research report on Tuesday, October 7th. Roth Capital set a $14.00 target price on shares of Amprius Technologies and gave the company a “buy” rating in a research note on Wednesday, October 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price target (up from $10.00) on shares of Amprius Technologies in a report on Friday, August 8th. Finally, William Blair upgraded Amprius Technologies from a “market perform” rating to an “outperform” rating in a report on Friday, July 18th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.29.

Amprius Technologies Price Performance

The stock’s fifty day simple moving average is $11.28 and its 200-day simple moving average is $7.20. The firm has a market cap of $1.62 billion, a PE ratio of -49.77 and a beta of 2.87.

Amprius Technologies (NYSE:AMPX) last released its earnings results 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. The firm had revenue of $21.43 million for the quarter, compared to the consensus estimate of $16.45 million. Amprius Technologies had a negative return on equity of 38.85% and a negative net margin of 53.16%. Analysts expect that Amprius Technologies, Inc. will post -0.45 earnings per share for the current year.

Insider Activity

In related news, CFO Sandra Wallach sold 28,390 shares of the company’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total value of $193,619.80. Following the sale, the chief financial officer owned 1,005,275 shares in the company, valued at $6,855,975.50. This represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Constantin Ionel Stefan sold 19,159 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total transaction of $130,664.38. Following the completion of the transaction, the chief technology officer owned 846,975 shares in the company, valued at approximately $5,776,369.50. This trade represents a 2.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 113,203 shares of company stock valued at $772,044. Company insiders own 12.90% of the company’s stock.

Institutional Trading of Amprius Technologies

Several large investors have recently made changes to their positions in the business. Jones Financial Companies Lllp raised its holdings in Amprius Technologies by 353.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 4,532 shares of the company’s stock worth $50,000 after purchasing an additional 3,532 shares during the period. Geneos Wealth Management Inc. purchased a new stake in shares of Amprius Technologies in the third quarter valued at approximately $74,000. Ameritas Investment Partners Inc. increased its position in shares of Amprius Technologies by 2,043.2% in the second quarter. Ameritas Investment Partners Inc. now owns 9,516 shares of the company’s stock valued at $40,000 after buying an additional 9,072 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Amprius Technologies during the 2nd quarter worth approximately $42,000. Finally, Legal & General Group Plc lifted its position in shares of Amprius Technologies by 1,385.4% during the 2nd quarter. Legal & General Group Plc now owns 10,383 shares of the company’s stock valued at $44,000 after buying an additional 9,684 shares in the last quarter. 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.