Amprius Technologies (NYSE:AMPX) Trading Down 10.8% – What’s Next?

Amprius Technologies, Inc. (NYSE:AMPX) was down 10.8% during trading on Tuesday . The stock traded as low as $12.09 and last traded at $12.0950. Approximately 7,642,544 shares were traded during mid-day trading, an increase of 27% from the average daily volume of 6,033,301 shares. The stock had previously closed at $13.56.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AMPX shares. 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. William Blair raised shares of Amprius Technologies from a “market perform” rating to an “outperform” rating in a research note 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 lifted their target price on shares of Amprius Technologies from $10.00 to $12.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $18.00 target price (up previously from $10.00) on shares of Amprius Technologies in a research note on Friday, August 8th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Amprius Technologies presently has an average rating of “Moderate Buy” and an average target price of $13.71.

Amprius Technologies Stock Performance

The firm’s 50-day moving average price is $10.76 and its two-hundred day moving average price is $6.84. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of -36.65 and a beta of 2.87.

Amprius Technologies (NYSE:AMPX) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. The firm had revenue of $15.07 million for the quarter, compared to analysts’ expectations of $12.38 million. Amprius Technologies had a negative net margin of 84.77% and a negative return on equity of 55.79%. As a group, sell-side analysts expect that Amprius Technologies, Inc. will post -0.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Amprius Technologies news, CTO Constantin Ionel Stefan sold 19,159 shares of the business’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $6.82, for a total transaction of $130,664.38. Following the sale, the chief technology officer directly owned 846,975 shares in the company, valued at $5,776,369.50. This represents a 2.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sandra Wallach sold 28,390 shares of the business’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $6.82, for a total transaction of $193,619.80. Following the sale, the chief financial officer owned 1,005,275 shares in the company, valued at $6,855,975.50. This trade represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 113,203 shares of company stock worth $772,044 over the last three months. Company insiders own 12.80% of the company’s stock.

Institutional Trading of Amprius Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE increased its stake in Amprius Technologies by 31.1% during the fourth quarter. Bank of America Corp DE now owns 12,890 shares of the company’s stock worth $36,000 after purchasing an additional 3,055 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new stake in Amprius Technologies during the first quarter worth about $40,000. Ameritas Investment Partners Inc. increased its stake in Amprius Technologies by 2,043.2% during the second quarter. Ameritas Investment Partners Inc. now owns 9,516 shares of the company’s stock worth $40,000 after purchasing an additional 9,072 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Amprius Technologies during the second quarter worth about $42,000. Finally, Rhumbline Advisers increased its stake in shares of Amprius Technologies by 61.1% during the first 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. 5.04% of the stock is currently owned by hedge funds and other institutional investors.

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.