Amprius Technologies (NYSE:AMPX) Stock Price Down 7.6% – Time to Sell?

Amprius Technologies, Inc. (NYSE:AMPX)’s share price was down 7.6% during mid-day trading on Friday . The stock traded as low as $11.58 and last traded at $11.81. Approximately 10,358,719 shares were traded during mid-day trading, an increase of 74% from the average daily volume of 5,943,354 shares. The stock had previously closed at $12.78.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AMPX shares. William Blair raised 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. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price objective (up previously from $10.00) on shares of Amprius Technologies in a research note on Friday, August 8th. Cantor Fitzgerald upped their price objective on Amprius Technologies from $10.00 to $12.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Finally, B. Riley upped their price objective on Amprius Technologies from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Eight analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $13.14.

Amprius Technologies Trading Down 7.6%

The firm has a market cap of $1.48 billion, a price-to-earnings ratio of -35.77 and a beta of 2.85. The business’s 50-day simple moving average is $9.58 and its two-hundred day simple moving average is $6.00.

Amprius Technologies (NYSE:AMPX) last released its earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The business had revenue of $15.07 million during the quarter, compared to the consensus estimate of $12.38 million. Amprius Technologies had a negative net margin of 84.77% and a negative return on equity of 55.79%. On average, analysts forecast that Amprius Technologies, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Amprius Technologies

In other Amprius Technologies news, CTO Constantin Ionel Stefan sold 19,159 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $6.82, for a total transaction of $130,664.38. Following the completion of the sale, the chief technology officer owned 846,975 shares of the company’s stock, valued at approximately $5,776,369.50. This represents a 2.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Sandra Wallach sold 28,390 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $6.82, for a total transaction of $193,619.80. Following the sale, the chief financial officer directly owned 1,005,275 shares of the company’s stock, valued at $6,855,975.50. This represents a 2.75% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,203 shares of company stock valued at $772,044. 12.90% of the stock is currently owned by company insiders.

Institutional Trading of Amprius Technologies

Large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its position in shares of Amprius Technologies by 128.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 244,646 shares of the company’s stock worth $656,000 after buying an additional 137,640 shares during the period. Baird Financial Group Inc. acquired a new stake in shares of Amprius Technologies during the 1st quarter worth approximately $1,341,000. Oppenheimer & Co. Inc. grew its position in shares of Amprius Technologies by 319.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 491,378 shares of the company’s stock worth $1,317,000 after buying an additional 374,228 shares during the period. Jump Financial LLC acquired a new stake in shares of Amprius Technologies during the 1st quarter worth approximately $174,000. Finally, Robertson Stephens Wealth Management LLC acquired a new stake in shares of Amprius Technologies during the 2nd quarter worth approximately $131,000. 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.