Amprius Technologies (NYSE:AMPX) Stock Price Down 6.7% – What’s Next?

Amprius Technologies, Inc. (NYSE:AMPX) fell 6.7% on Friday . The company traded as low as $10.45 and last traded at $10.7450. 6,974,795 shares were traded during mid-day trading, a decline of 13% from the average session volume of 8,043,275 shares. The stock had previously closed at $11.52.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Cantor Fitzgerald lifted their price objective on shares of Amprius Technologies from $12.00 to $16.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Craig Hallum started coverage on shares of Amprius Technologies in a report on Monday. They issued a “buy” rating and a $17.00 price target for the company. Needham & Company LLC started coverage on shares of Amprius Technologies in a research report on Thursday, January 29th. They set a “buy” rating and a $20.00 price objective for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Amprius Technologies in a report on Wednesday, January 21st. Finally, Oppenheimer restated an “outperform” rating and issued a $17.00 target price on shares of Amprius Technologies in a research note on Tuesday, December 23rd. Eight investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Amprius Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $16.63.

Amprius Technologies Stock Performance

The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -41.33 and a beta of 2.99. The stock’s fifty day moving average is $10.37 and its two-hundred day moving average is $10.46.

Insider Activity at Amprius Technologies

In other news, CTO Constantin Ionel Stefan sold 25,366 shares of Amprius Technologies stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $10.16, for a total transaction of $257,718.56. Following the sale, the chief technology officer owned 723,330 shares of the company’s stock, valued at approximately $7,349,032.80. The trade was a 3.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kang Sun sold 61,251 shares of the stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $10.16, for a total value of $622,310.16. Following the completion of the transaction, the director directly owned 1,342,400 shares of the company’s stock, valued at $13,638,784. This trade represents a 4.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 2,392,269 shares of company stock worth $26,384,359 in the last 90 days. 12.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amprius Technologies

Several hedge funds have recently modified their holdings of AMPX. Bank of America Corp DE lifted its holdings in shares of Amprius Technologies by 31.1% in the fourth quarter. Bank of America Corp DE now owns 12,890 shares of the company’s stock valued at $36,000 after buying an additional 3,055 shares during the period. AQR Capital Management LLC raised its position in Amprius Technologies by 86.7% in the first 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 in the last quarter. Millennium Management LLC lifted its holdings in Amprius Technologies by 94.5% in 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. boosted its position in shares of Amprius Technologies by 128.6% during 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 in the last quarter. Finally, Rhumbline Advisers boosted its position 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 purchasing an additional 5,951 shares in the last quarter. 5.04% of the stock is currently owned by institutional investors and hedge funds.

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.