Amprius Technologies (NYSE:AMPX) Trading Down 5.6% – Here’s Why

Amprius Technologies, Inc. (NYSE:AMPX)’s share price dropped 5.6% during trading on Friday . The stock traded as low as $9.88 and last traded at $9.92. 3,628,836 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 8,105,917 shares. The stock had previously closed at $10.51.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Wall Street Zen cut Amprius Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Northland Securities set a $24.00 price target on shares of Amprius Technologies in a research note on Monday, May 11th. Roth Capital reaffirmed a “buy” rating on shares of Amprius Technologies in a report on Friday, May 8th. Zacks Research upgraded Amprius Technologies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, JonesTrading initiated coverage on Amprius Technologies in a report on Friday, July 10th. They set a “buy” rating and a $30.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Amprius Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Amprius Technologies Price Performance

The business’s 50 day moving average price is $11.28 and its 200-day moving average price is $14.80. The company has a market cap of $1.40 billion, a P/E ratio of -34.21 and a beta of 2.33.

Insiders Place Their Bets

In related news, Director Kang Sun sold 62,101 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 transaction of $642,124.34. Following the completion of the sale, the director directly owned 1,218,397 shares of the company’s stock, valued at $12,598,224.98. This trade represents a 4.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Thomas M. Stepien sold 8,000 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $10.03, for a total value of $80,240.00. Following the sale, the chief executive officer owned 594,096 shares in the company, valued at $5,958,782.88. The trade was a 1.33% 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 quarter, insiders sold 250,311 shares of company stock valued at $3,539,146. Company insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AMPX. Corient Private Wealth LP lifted its stake in shares of Amprius Technologies by 22.3% during the second quarter. Corient Private Wealth LP now owns 19,573 shares of the company’s stock valued at $271,000 after acquiring an additional 3,574 shares during the period. California State Teachers Retirement System increased its position in Amprius Technologies by 1,124.4% in the second quarter. California State Teachers Retirement System now owns 1,957,919 shares of the company’s stock worth $27,137,000 after purchasing an additional 1,798,016 shares during the period. TD Waterhouse Canada Inc. raised its holdings in Amprius Technologies by 355.6% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 2,105 shares of the company’s stock worth $29,000 after purchasing an additional 1,643 shares during the last quarter. Nykredit A S bought a new stake in Amprius Technologies during the 2nd quarter worth about $79,000. Finally, Headlands Technologies LLC raised its holdings in Amprius Technologies by 49.0% during the 2nd quarter. Headlands Technologies LLC now owns 36,716 shares of the company’s stock worth $509,000 after purchasing an additional 12,081 shares during the last quarter. 5.04% of the stock is currently owned by institutional investors.

About Amprius Technologies

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.