Amprius Technologies (NYSE:AMPX) Reaches New 12-Month Low – Here’s Why

Amprius Technologies, Inc. (NYSE:AMPX) reached a new 52-week low during trading on Thursday. The company traded as low as $7.02 and last traded at $7.5140, with a volume of 3,546,388 shares changing hands. The stock had previously closed at $8.47.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AMPX. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Amprius Technologies in a research note on Thursday, October 15th. Canaccord Genuity Group started coverage on shares of Amprius Technologies in a research note on Wednesday, October 14th. They issued a “buy” rating and a $14.00 price target on the stock. National Bank Financial set a $18.00 price objective on shares of Amprius Technologies in a report on Tuesday, September 29th. JonesTrading started coverage on shares of Amprius Technologies in a research report on Friday, July 10th. They set a “buy” rating and a $30.00 price objective for the company. Finally, Zacks Research upgraded shares of Amprius Technologies from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.42.

Amprius Technologies Trading Down 10.5%

The company has a market capitalization of $1.07 billion, a PE ratio of -26.17 and a beta of 2.36. The business has a fifty day moving average of $9.19 and a 200 day moving average of $13.28.

Insider Transactions at Amprius Technologies

In related news, CTO Constantin Stefan sold 29,681 shares of Amprius Technologies stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $10.34, for a total value of $306,901.54. Following the completion of the transaction, the chief technology officer owned 771,629 shares in the company, valued at approximately $7,978,643.86. The trade was a 3.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Thomas M. Stepien sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $10.03, for a total transaction of $80,240.00. Following the sale, the chief executive officer directly owned 594,096 shares in the company, valued at approximately $5,958,782.88. The trade was a 1.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 123,311 shares of company stock valued at $1,272,556. 5.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amprius Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its stake in shares of Amprius Technologies by 700.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 431,398 shares of the company’s stock worth $6,695,000 after acquiring an additional 377,485 shares in the last quarter. First Trust Advisors LP increased its position in shares of Amprius Technologies by 1,105.0% during the first quarter. First Trust Advisors LP now owns 394,569 shares of the company’s stock worth $6,652,000 after acquiring an additional 361,825 shares during the period. Wellington Management Group LLP purchased a new stake in shares of Amprius Technologies during the second quarter worth $4,751,000. Renaissance Technologies LLC raised its stake in shares of Amprius Technologies by 218.7% in the first quarter. Renaissance Technologies LLC now owns 359,525 shares of the company’s stock valued at $6,062,000 after acquiring an additional 246,700 shares in the last quarter. Finally, Calamos Advisors LLC raised its stake in shares of Amprius Technologies by 206.2% in the first quarter. Calamos Advisors LLC now owns 364,506 shares of the company’s stock valued at $6,146,000 after acquiring an additional 245,473 shares in the last quarter. Hedge funds and other institutional investors own 5.04% of the company’s stock.

About Amprius Technologies

Amprius Technologies, Inc develops and manufactures high-performance lithium-ion batteries using its silicon nanowire anode technology. The company’s batteries are designed to provide greater energy density and faster charging than conventional lithium-ion cells, supporting applications where weight, size and performance are important.

Its product portfolio includes lightweight pouch-format battery cells and related battery technologies for electric aviation, aerospace, defense, drones, high-altitude platforms, electric vehicles and other e-mobility applications.