Amprius Technologies (NYSE:AMPX) Shares Down 3.3% – Time to Sell?

Shares of Amprius Technologies, Inc. (NYSE:AMPX) dropped 3.3% during mid-day trading on Monday . The stock traded as low as $11.67 and last traded at $11.7720. Approximately 5,017,450 shares changed hands during trading, a decline of 18% from the average daily volume of 6,137,225 shares. The stock had previously closed at $12.18.

Wall Street Analyst Weigh In

AMPX has been the topic of several research analyst reports. Roth Capital set a $14.00 price objective on Amprius Technologies and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Cantor Fitzgerald upped their price target on Amprius Technologies from $12.00 to $16.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Northland Securities set a $20.00 price target on Amprius Technologies in a research note on Tuesday, October 7th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Amprius Technologies in a research note on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Amprius Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $14.29.

Amprius Technologies Stock Down 5.6%

The stock has a market capitalization of $1.44 billion, a P/E ratio of -42.48 and a beta of 2.94. The business has a fifty day moving average price of $12.04 and a 200-day moving average price of $8.51.

Amprius Technologies (NYSE:AMPX) last issued its earnings results on Thursday, November 6th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.03. The business had revenue of $21.43 million during the quarter, compared to analyst estimates of $16.45 million. Amprius Technologies had a negative return on equity of 38.85% and a negative net margin of 53.16%. On average, equities analysts expect that Amprius Technologies, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CTO Constantin Ionel Stefan sold 25,024 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $10.08, for a total value of $252,241.92. Following the transaction, the chief technology officer directly owned 821,951 shares in the company, valued at $8,285,266.08. This trade represents a 2.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Kang Sun sold 1,000,000 shares of Amprius Technologies stock in a transaction on Monday, November 17th. The stock was sold at an average price of $10.60, for a total value of $10,600,000.00. Following the completion of the sale, the chief executive officer directly owned 1,472,306 shares of the company’s stock, valued at $15,606,443.60. The trade was a 40.45% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,093,679 shares of company stock worth $11,544,284. 12.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Amprius Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its position in shares of Amprius Technologies by 31.1% during the 4th quarter. Bank of America Corp DE now owns 12,890 shares of the company’s stock valued at $36,000 after purchasing an additional 3,055 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Amprius Technologies by 30.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 257,943 shares of the company’s stock worth $691,000 after buying an additional 59,501 shares in the last quarter. Nuveen LLC bought a new stake in Amprius Technologies during the first quarter valued at about $62,000. HITE Hedge Asset Management LLC bought a new stake in Amprius Technologies during the first quarter valued at about $433,000. Finally, Jump Financial LLC purchased a new position in shares of Amprius Technologies in the first quarter valued at about $174,000. 5.04% of the stock is owned by hedge funds and other institutional investors.

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.