Amprius Technologies (NYSE:AMPX) Trading Down 7.8% – Here’s What Happened

Shares of Amprius Technologies, Inc. (NYSE:AMPX) fell 7.8% during mid-day trading on Tuesday . The company traded as low as $11.40 and last traded at $11.52. 5,800,265 shares were traded during mid-day trading, a decline of 35% from the average session volume of 8,934,471 shares. The stock had previously closed at $12.49.

Analyst Upgrades and Downgrades

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

Amprius Technologies Trading Down 7.8%

The stock has a market cap of $1.50 billion, a P/E ratio of -44.31 and a beta of 2.98. The business’s fifty day simple moving average is $10.48 and its 200 day simple moving average is $10.24.

Insider Activity at Amprius Technologies

In related news, CTO Constantin Ionel Stefan sold 39,690 shares of the firm’s stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $12.00, for a total value of $476,280.00. Following the completion of the sale, the chief technology officer owned 748,696 shares of the company’s stock, valued at $8,984,352. This trade represents a 5.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kang Sun sold 43,185 shares of the company’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $11.03, for a total value of $476,330.55. Following the transaction, the director directly owned 1,403,651 shares in the company, valued at approximately $15,482,270.53. This represents a 2.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 3,399,331 shares of company stock worth $37,048,615 over the last three months. 12.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AMPX. Bank of America Corp DE grew 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 worth $36,000 after buying an additional 3,055 shares during the period. AQR Capital Management LLC grew its holdings in Amprius Technologies by 86.7% during the 1st quarter. AQR Capital Management LLC now owns 77,764 shares of the company’s stock worth $208,000 after acquiring an additional 36,116 shares during the period. Millennium Management LLC raised its position in shares of Amprius Technologies by 94.5% during the 1st quarter. Millennium Management LLC now owns 1,396,013 shares of the company’s stock valued at $3,741,000 after acquiring an additional 678,442 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Amprius Technologies by 128.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 244,646 shares of the company’s stock valued at $656,000 after purchasing an additional 137,640 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of Amprius Technologies by 61.1% in the 1st 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 last quarter. 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.