Amprius Technologies (NYSE:AMPX) Reaches New 52-Week Low – Time to Sell?

Amprius Technologies, Inc. (NYSE:AMPX) shares hit a new 52-week low during trading on Thursday. The stock traded as low as $7.02 and last traded at $7.5140, with a volume of 3,546,388 shares traded. The stock had previously closed at $8.47.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Amprius Technologies in a report on Tuesday, September 29th. Canaccord Genuity Group started coverage on shares of Amprius Technologies in a report on Wednesday, October 14th. They set a “buy” rating and a $14.00 target price for the company. JonesTrading initiated coverage on shares of Amprius Technologies in a report on Friday, July 10th. They set a “buy” rating and a $30.00 target price for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Amprius Technologies in a research report on Thursday, October 15th. Finally, Zacks Research raised shares of Amprius Technologies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.42.

Amprius Technologies Trading Down 10.5%

The company has a fifty day moving average price of $9.19 and a two-hundred day moving average price of $13.28. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -26.17 and a beta of 2.36.

Insider Buying and Selling

In other Amprius Technologies news, CTO Constantin Stefan sold 29,681 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $10.34, for a total value of $306,901.54. Following the completion of the sale, the chief technology officer directly owned 771,629 shares of the company’s stock, valued at $7,978,643.86. This trade represents a 3.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kang Sun sold 62,101 shares of Amprius Technologies stock in a transaction on Friday, August 21st. The stock was sold at an average price of $10.34, for a total value of $642,124.34. Following the transaction, the director owned 1,218,397 shares in the company, valued at approximately $12,598,224.98. This represents a 4.85% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 123,311 shares of company stock worth $1,272,556. 5.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Alps Advisors Inc. raised its position in Amprius Technologies by 10.4% in the third quarter. Alps Advisors Inc. now owns 203,590 shares of the company’s stock valued at $1,971,000 after purchasing an additional 19,107 shares during the period. CenterBook Partners LP acquired a new position in shares of Amprius Technologies in the 3rd quarter valued at $634,000. Kestra Advisory Services LLC lifted its stake in shares of Amprius Technologies by 37.8% in the 3rd quarter. Kestra Advisory Services LLC now owns 20,270 shares of the company’s stock valued at $196,000 after purchasing an additional 5,561 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Amprius Technologies by 14.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 21,809 shares of the company’s stock worth $211,000 after purchasing an additional 2,764 shares during the period. Finally, Integrity Alliance LLC. purchased a new position in shares of Amprius Technologies during the 3rd quarter worth $167,000. Institutional investors and hedge funds own 5.04% of the company’s stock.

About Amprius Technologies

Amprius Technologies, Inc develops and manufactures high-performance lithium-ion batteries using its silicon nanowire anode technology. The company’s batteries are designed to provide greater energy density and faster charging than conventional lithium-ion cells, supporting applications where weight, size and performance are important.

Its product portfolio includes lightweight pouch-format battery cells and related battery technologies for electric aviation, aerospace, defense, drones, high-altitude platforms, electric vehicles and other e-mobility applications.