Amprius Technologies (NYSE:AMPX) Trading Down 6.7% – Time to Sell?

Amprius Technologies, Inc. (NYSE:AMPX)’s share price dropped 6.7% during mid-day trading on Friday . The stock traded as low as $10.45 and last traded at $10.7450. Approximately 6,974,795 shares were traded during mid-day trading, a decline of 13% from the average daily volume of 8,043,275 shares. The stock had previously closed at $11.52.

Analyst Ratings Changes

A number of research firms recently weighed in on AMPX. Craig Hallum initiated coverage on shares of Amprius Technologies in a research report on Monday, February 23rd. They issued a “buy” rating and a $17.00 price objective on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Amprius Technologies in a report on Wednesday, January 21st. Needham & Company LLC started coverage on Amprius Technologies in a research note on Thursday, January 29th. They set a “buy” rating and a $20.00 price target for the company. Cantor Fitzgerald boosted their price objective on Amprius Technologies from $12.00 to $16.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $17.00 target price on shares of Amprius Technologies in a research note on Tuesday, December 23rd. Eight 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 has a consensus rating of “Moderate Buy” and an average target price of $16.63.

Amprius Technologies Price Performance

The stock has a market cap of $1.40 billion, a PE ratio of -41.33 and a beta of 2.99. The business has a fifty day moving average of $10.40 and a 200-day moving average of $10.50.

Insiders Place Their Bets

In other news, Director Kang Sun sold 950,548 shares of the firm’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $11.07, for a total transaction of $10,522,566.36. Following the transaction, the director owned 1,403,651 shares in the company, valued at approximately $15,538,416.57. This trade represents a 40.38% 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 492,827 shares of Amprius Technologies stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $12.04, for a total value of $5,933,637.08. Following the completion of the sale, the chief technology officer owned 748,696 shares of the company’s stock, valued at $9,014,299.84. The trade was a 39.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 2,392,269 shares of company stock worth $26,384,359 in the last three months. Corporate insiders own 12.90% of the company’s stock.

Institutional Investors Weigh In On Amprius Technologies

Hedge funds have recently modified their holdings of the business. Bank of America Corp DE boosted its stake in shares of Amprius Technologies by 31.1% during the fourth quarter. Bank of America Corp DE now owns 12,890 shares of the company’s stock valued at $36,000 after purchasing an additional 3,055 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Amprius Technologies by 2,043.2% during 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 during the last quarter. Quarry LP purchased a new stake in shares of Amprius Technologies in the third quarter worth about $42,000. Rhumbline Advisers raised its stake in shares of Amprius Technologies by 61.1% during the 1st quarter. Rhumbline Advisers now owns 15,690 shares of the company’s stock worth $42,000 after buying an additional 5,951 shares during the period. 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. Hedge funds and other 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.