Amprius Technologies (NYSE:AMPX) Shares Down 5.5% – Here’s What Happened

Amprius Technologies, Inc. (NYSE:AMPX) shares were down 5.5% during mid-day trading on Thursday . The company traded as low as $10.95 and last traded at $11.69. Approximately 10,117,332 shares traded hands during mid-day trading, an increase of 64% from the average daily volume of 6,180,524 shares. The stock had previously closed at $12.37.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AMPX. William Blair upgraded Amprius Technologies from a “market perform” rating to an “outperform” rating in a report on Friday, July 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Amprius Technologies in a research note on Wednesday, October 8th. Cantor Fitzgerald increased their price target on shares of Amprius Technologies from $12.00 to $16.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Roth Capital set a $14.00 price target on shares of Amprius Technologies and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Finally, B. Riley upped their price objective on Amprius Technologies from $10.00 to $11.00 and gave the company a “buy” rating in a report on Friday, August 8th. Eight research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.29.

Amprius Technologies Stock Performance

The business’s 50 day moving average price is $11.67 and its 200-day moving average price is $7.44. The firm has a market capitalization of $1.47 billion, a PE ratio of -43.48 and a beta of 2.87.

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

Insider Activity

In related news, CEO Kang Sun sold 65,654 shares of the business’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total value of $447,760.28. Following the sale, the chief executive officer owned 1,472,306 shares in the company, valued at approximately $10,041,126.92. The trade was a 4.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sandra Wallach sold 28,390 shares of the firm’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $6.82, for a total value of $193,619.80. Following the transaction, the chief financial officer owned 1,005,275 shares of the company’s stock, valued at $6,855,975.50. This trade represents a 2.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 113,203 shares of company stock valued at $772,044. 12.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AMPX. Bank of America Corp DE lifted its holdings in Amprius Technologies by 31.1% during the 4th quarter. Bank of America Corp DE now owns 12,890 shares of the company’s stock worth $36,000 after buying an additional 3,055 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Amprius Technologies by 189.6% in the first quarter. Bank of New York Mellon Corp now owns 31,554 shares of the company’s stock valued at $85,000 after acquiring an additional 20,660 shares in the last quarter. Legato Capital Management LLC purchased a new position in Amprius Technologies in the first quarter valued at $744,000. Essex Investment Management Co. LLC acquired a new position in Amprius Technologies during the 1st quarter worth $2,508,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Amprius Technologies by 30.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 257,943 shares of the company’s stock worth $691,000 after purchasing an additional 59,501 shares in the last quarter. Institutional investors and hedge funds own 5.04% of the company’s stock.

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.