Amprius Technologies (NYSE:AMPX) Shares Down 8.5% – Here’s What Happened

Amprius Technologies, Inc. (NYSE:AMPX)’s stock price traded down 8.5% on Thursday . The stock traded as low as $10.01 and last traded at $10.17. 5,812,027 shares traded hands during trading, a decline of 33% from the average session volume of 8,715,817 shares. The stock had previously closed at $11.11.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AMPX. Weiss Ratings reiterated a “sell (e+)” rating on shares of Amprius Technologies in a report on Wednesday, January 21st. Cantor Fitzgerald upped their price objective 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. Needham & Company LLC initiated coverage on shares of Amprius Technologies in a research report on Thursday, January 29th. They issued a “buy” rating and a $20.00 target price for the company. Oppenheimer restated an “outperform” rating and set a $17.00 price target on shares of Amprius Technologies in a report on Tuesday, December 23rd. Finally, Roth Mkm set a $14.00 price target on shares of Amprius Technologies and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.57.

Amprius Technologies Price Performance

The company has a fifty day simple moving average of $10.45 and a two-hundred day simple moving average of $10.27. The company has a market capitalization of $1.33 billion, a P/E ratio of -39.12 and a beta of 2.99.

Insiders Place Their Bets

In related news, CEO Kang Sun sold 1,000,000 shares of Amprius Technologies stock in a transaction on Monday, November 17th. The shares were sold at an average price of $10.60, for a total value of $10,600,000.00. Following the transaction, the chief executive officer owned 1,472,306 shares in the company, valued at $15,606,443.60. This trade represents a 40.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Constantin Ionel Stefan sold 492,827 shares of the business’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $12.04, for a total transaction of $5,933,637.08. Following the transaction, the chief technology officer directly owned 748,696 shares of the company’s stock, valued at approximately $9,014,299.84. This represents a 39.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,399,331 shares of company stock worth $37,048,615 over the last quarter. 12.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amprius Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE lifted its stake in shares of Amprius Technologies by 31.1% in the fourth quarter. Bank of America Corp DE now owns 12,890 shares of the company’s stock valued at $36,000 after buying an additional 3,055 shares during the period. Ameritas Investment Partners Inc. increased its position 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 purchasing an additional 9,072 shares during the period. Quarry LP acquired a new position in shares of Amprius Technologies in the third quarter valued at $42,000. Rhumbline Advisers lifted its position in Amprius Technologies by 61.1% in the first quarter. Rhumbline Advisers now owns 15,690 shares of the company’s stock worth $42,000 after purchasing an additional 5,951 shares during the period. Finally, Legal & General Group Plc boosted its stake in Amprius Technologies by 1,385.4% during the second quarter. Legal & General Group Plc now owns 10,383 shares of the company’s stock worth $44,000 after buying an additional 9,684 shares in the last quarter. 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.