Amprius Technologies (NYSE:AMPX) Trading Down 6.1% – Here’s What Happened

Amprius Technologies, Inc. (NYSE:AMPX) was down 6.1% on Monday . The company traded as low as $10.50 and last traded at $10.6320. Approximately 3,082,838 shares changed hands during trading, a decline of 50% from the average daily volume of 6,159,631 shares. The stock had previously closed at $11.32.

Wall Street Analyst Weigh In

AMPX has been the subject of several analyst reports. B. Riley upped their target price on Amprius Technologies from $10.00 to $11.00 and gave the company a “buy” rating in a report on Friday, August 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Amprius Technologies in a research report on Wednesday, October 8th. HC Wainwright restated a “buy” rating and set a $18.00 price objective (up from $10.00) on shares of Amprius Technologies in a research report on Friday, August 8th. Roth Capital set a $14.00 target price on shares of Amprius Technologies and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Finally, Northland Securities set a $20.00 target price on shares of Amprius Technologies in a report on Tuesday, October 7th. Eight equities research 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.com, Amprius Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $14.29.

Amprius Technologies Trading Down 6.1%

The business has a fifty day moving average price of $12.00 and a two-hundred day moving average price of $8.05. The firm has a market capitalization of $1.39 billion, a PE ratio of -40.89 and a beta of 2.94.

Amprius Technologies (NYSE:AMPX) last issued 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 analyst estimates of $16.45 million. On average, equities analysts forecast that Amprius Technologies, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Constantin Ionel Stefan sold 25,024 shares of Amprius Technologies stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $10.08, for a total value of $252,241.92. Following the completion of the sale, the chief technology officer owned 821,951 shares in the company, valued at approximately $8,285,266.08. This trade represents a 2.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kang Sun sold 68,655 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $10.08, for a total value of $692,042.40. Following the completion of the sale, the chief executive officer directly owned 1,403,651 shares in the company, valued at approximately $14,148,802.08. The trade was a 4.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,093,679 shares of company stock worth $11,544,284 over the last three months. Insiders own 12.80% of the company’s stock.

Institutional Investors Weigh In On Amprius Technologies

Institutional investors have recently modified their holdings of the company. Voloridge Investment Management LLC purchased a new stake in shares of Amprius Technologies in the 3rd quarter valued at $19,737,000. BNP Paribas Financial Markets boosted its holdings in Amprius Technologies by 1,117.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,943,905 shares of the company’s stock valued at $20,450,000 after acquiring an additional 1,784,291 shares during the period. Vanguard Group Inc. grew its position in Amprius Technologies by 37.0% in the 3rd quarter. Vanguard Group Inc. now owns 6,512,620 shares of the company’s stock valued at $68,513,000 after acquiring an additional 1,757,395 shares in the last quarter. Invesco Ltd. increased its stake in Amprius Technologies by 113.3% during the third quarter. Invesco Ltd. now owns 2,379,384 shares of the company’s stock worth $25,031,000 after purchasing an additional 1,263,846 shares during the period. Finally, Stephens Investment Management Group LLC acquired a new stake in shares of Amprius Technologies during the third quarter worth about $11,392,000. 5.04% of the stock is owned by institutional investors and hedge funds.

Amprius Technologies Company Profile

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.