Amprius Technologies (NYSE:AMPX) Trading Down 2.1% After Insider Selling

Shares of Amprius Technologies, Inc. (NYSE:AMPX) dropped 2.1% during trading on Thursday following insider selling activity. The stock traded as low as $10.11 and last traded at $10.1430. Approximately 8,704,247 shares changed hands during trading, an increase of 25% from the average daily volume of 6,959,119 shares. The stock had previously closed at $10.36.

Specifically, Director Kang Sun sold 506,267 shares of Amprius Technologies stock in a transaction on Monday, January 12th. The stock was sold at an average price of $10.10, for a total transaction of $5,113,296.70. Following the completion of the sale, the director directly owned 1,403,651 shares in the company, valued at approximately $14,176,875.10. This trade represents a 26.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analyst Weigh In

A number of research analysts have 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. Weiss Ratings restated a “sell (e+)” rating on shares of Amprius Technologies in a research note on Wednesday, October 8th. Northland Securities set a $20.00 price target on shares of Amprius Technologies in a research note on Tuesday, October 7th. Cantor Fitzgerald boosted their price target on Amprius Technologies from $12.00 to $16.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Finally, Oppenheimer reissued an “outperform” rating and issued a $17.00 price objective on shares of Amprius Technologies in a research note on Tuesday, December 23rd. Seven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.57.

Amprius Technologies Stock Performance

The company has a 50 day moving average of $10.22 and a two-hundred day moving average of $9.58. The stock has a market capitalization of $1.44 billion, a PE ratio of -42.31 and a beta of 3.04.

Amprius Technologies (NYSE:AMPX) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.03. The company had revenue of $21.43 million during the quarter, compared to analysts’ expectations of $16.45 million. Amprius Technologies had a negative return on equity of 38.85% and a negative net margin of 53.16%. As a group, research analysts predict that Amprius Technologies, Inc. will post -0.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Amprius Technologies

A number of large investors have recently made changes to their positions in AMPX. Bank of America Corp DE raised its stake in Amprius Technologies by 31.1% in the 4th quarter. Bank of America Corp DE now owns 12,890 shares of the company’s stock worth $36,000 after acquiring an additional 3,055 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Amprius Technologies by 86.7% in the first quarter. AQR Capital Management LLC now owns 77,764 shares of the company’s stock valued at $208,000 after purchasing an additional 36,116 shares during the period. Millennium Management LLC raised its stake in shares of Amprius Technologies by 94.5% in the first quarter. Millennium Management LLC now owns 1,396,013 shares of the company’s stock worth $3,741,000 after purchasing an additional 678,442 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Amprius Technologies by 128.6% during the first quarter. Goldman Sachs Group Inc. now owns 244,646 shares of the company’s stock worth $656,000 after purchasing an additional 137,640 shares during the period. Finally, Rhumbline Advisers lifted its holdings 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 purchasing an additional 5,951 shares during the period. 5.04% of the stock is owned by hedge funds and other 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.