Amprius Technologies (NYSE:AMPX) Shares Gap Down – Here’s What Happened

Amprius Technologies, Inc. (NYSE:AMPX) shares gapped down prior to trading on Friday . The stock had previously closed at $11.72, but opened at $10.80. Amprius Technologies shares last traded at $11.3650, with a volume of 2,933,137 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AMPX. Cantor Fitzgerald increased their price target on Amprius Technologies from $12.00 to $16.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. William Blair upgraded Amprius Technologies from a “market perform” rating to an “outperform” rating in a research report on Friday, July 18th. B. Riley lifted their price target on Amprius Technologies from $10.00 to $11.00 and gave the company a “buy” rating in a report on Friday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective (up previously from $10.00) on shares of Amprius Technologies in a research note on Friday, August 8th. Finally, Northland Securities set a $20.00 target price on shares of Amprius Technologies in a research report on Tuesday, October 7th. Eight analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.29.

Amprius Technologies Trading Down 2.5%

The stock’s 50-day moving average is $11.59 and its 200-day moving average is $7.34. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -43.89 and a beta of 2.87.

Amprius Technologies (NYSE:AMPX) last released its quarterly earnings data 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. The company had revenue of $21.43 million during the quarter, compared to analyst estimates of $16.45 million. Amprius Technologies had a negative net margin of 53.16% and a negative return on equity of 38.85%. On average, equities analysts predict that Amprius Technologies, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Transactions at Amprius Technologies

In other news, CEO Kang Sun sold 65,654 shares of the stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $6.82, for a total value of $447,760.28. Following the completion of the sale, the chief executive officer owned 1,472,306 shares in the company, valued at approximately $10,041,126.92. This trade represents a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Constantin Ionel Stefan sold 19,159 shares of the company’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total value of $130,664.38. Following the completion of the transaction, 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 SEC filing for this sale provides additional information. Insiders sold 113,203 shares of company stock valued at $772,044 over the last quarter. Company insiders own 12.90% of the company’s stock.

Hedge Funds Weigh In On Amprius Technologies

Institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its position in shares of Amprius Technologies by 31.1% during the fourth 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. Edmond DE Rothschild Holding S.A. acquired a new stake in Amprius Technologies during the 1st quarter valued at approximately $40,000. Ameritas Investment Partners Inc. increased its holdings in 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. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Amprius Technologies in the 2nd quarter valued at approximately $42,000. Finally, Rhumbline Advisers boosted its stake in shares of Amprius Technologies by 61.1% during the 1st quarter. Rhumbline Advisers now owns 15,690 shares of the company’s stock valued at $42,000 after buying an additional 5,951 shares during the last quarter. Institutional investors and hedge funds own 5.04% of the company’s stock.

Amprius Technologies Company Profile

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.