Amprius Technologies (NYSE:AMPX) Trading Down 14.8% – Should You Sell?

Amprius Technologies, Inc. (NYSE:AMPX) was down 14.8% during mid-day trading on Thursday . The stock traded as low as $10.50 and last traded at $10.5610. Approximately 10,350,046 shares changed hands during mid-day trading, an increase of 13% from the average daily volume of 9,133,271 shares. The stock had previously closed at $12.40.

Analyst Ratings Changes

A number of analysts recently commented on AMPX shares. Oppenheimer reaffirmed an “outperform” rating and set a $17.00 price target on shares of Amprius Technologies in a research report on Tuesday, December 23rd. Roth Mkm set a $14.00 target price on shares of Amprius Technologies and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Cantor Fitzgerald raised their price target on shares of Amprius Technologies from $12.00 to $16.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Needham & Company LLC initiated coverage on Amprius Technologies in a research note on Thursday, January 29th. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Amprius Technologies in a research report on Wednesday, January 21st. Seven analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.57.

Amprius Technologies Stock Performance

The stock has a 50-day moving average of $10.45 and a two-hundred day moving average of $10.18. The company has a market cap of $1.60 billion, a P/E ratio of -47.08 and a beta of 2.99.

Amprius Technologies (NYSE:AMPX) last posted its earnings results on Thursday, November 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $16.45 million. As a group, sell-side analysts forecast that Amprius Technologies, Inc. will post -0.45 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CTO Constantin Ionel Stefan sold 492,827 shares of the firm’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $12.04, for a total value of $5,933,637.08. Following the completion of the sale, the chief technology officer owned 748,696 shares of the company’s stock, valued at $9,014,299.84. This trade represents a 39.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Kang Sun sold 1,000,000 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $10.60, for a total transaction of $10,600,000.00. Following the transaction, the chief executive officer directly owned 1,472,306 shares in the company, valued at approximately $15,606,443.60. The trade was a 40.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 3,399,331 shares of company stock valued at $37,048,615. 12.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Stephens Investment Management Group LLC purchased a new stake in Amprius Technologies in the third quarter worth approximately $11,392,000. Bessemer Group Inc. bought a new position in shares of Amprius Technologies during the 2nd quarter valued at $174,000. Baird Financial Group Inc. boosted its stake in shares of Amprius Technologies by 99.9% in the 2nd quarter. Baird Financial Group Inc. now owns 1,000,711 shares of the company’s stock worth $4,213,000 after buying an additional 500,212 shares during the last quarter. Calamos Advisors LLC bought a new stake in shares of Amprius Technologies in the third quarter worth $1,799,000. Finally, Huntleigh Advisors Inc. purchased a new stake in Amprius Technologies during the second quarter valued at $614,000. Hedge funds and other institutional investors own 5.04% of the company’s stock.

Amprius Technologies Company Profile

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.