Amprius Technologies (NYSE:AMPX) Trading Down 7.9% After Insider Selling

Amprius Technologies, Inc. (NYSE:AMPX)’s share price traded down 7.9% during trading on Monday following insider selling activity. The company traded as low as $10.00 and last traded at $10.0450. 4,659,678 shares were traded during trading, a decline of 24% from the average session volume of 6,118,109 shares. The stock had previously closed at $10.91.

Specifically, CTO Constantin Ionel Stefan sold 198,255 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $10.51, for a total value of $2,083,660.05. Following the completion of the sale, the chief technology officer owned 748,696 shares in the company, valued at approximately $7,868,794.96. The trade was a 20.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AMPX. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Amprius Technologies in a report on Wednesday, October 8th. Roth Capital set a $14.00 target price on shares of Amprius Technologies and gave the company a “buy” rating in a report on Wednesday, October 22nd. Cantor Fitzgerald raised their price target on Amprius Technologies from $12.00 to $16.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Finally, Northland Securities set a $20.00 price objective on Amprius Technologies in a research report on Tuesday, October 7th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.29.

Amprius Technologies Stock Down 14.4%

The stock has a market capitalization of $1.15 billion, a PE ratio of -33.83 and a beta of 2.94. The firm’s fifty day moving average is $11.87 and its 200-day moving average is $8.77.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP acquired a new position in Amprius Technologies during the third quarter worth about $42,000. Jones Financial Companies Lllp grew its position in shares of Amprius Technologies by 353.2% in the third quarter. Jones Financial Companies Lllp now owns 4,532 shares of the company’s stock valued at $50,000 after purchasing an additional 3,532 shares during the last quarter. Parallel Advisors LLC purchased a new position in shares of Amprius Technologies during the 3rd quarter worth approximately $54,000. Geneos Wealth Management Inc. purchased a new position in shares of Amprius Technologies during the 3rd quarter worth approximately $74,000. Finally, Ameritas Investment Partners Inc. raised its position in shares of Amprius Technologies by 2,043.2% during the 2nd 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 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.