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

Amprius Technologies, Inc. (NYSE:AMPX) fell 7.8% during trading on Tuesday . The company traded as low as $11.40 and last traded at $11.52. 5,800,265 shares changed hands 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.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AMPX. Weiss Ratings restated a “sell (e+)” rating on shares of Amprius Technologies in a research report on Wednesday, January 21st. Roth Mkm set a $14.00 price objective on shares of Amprius Technologies and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Oppenheimer restated an “outperform” rating and set a $17.00 price objective on shares of Amprius Technologies in a report on Tuesday, December 23rd. Cantor Fitzgerald upped their target price on shares of Amprius Technologies from $12.00 to $16.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Finally, Needham & Company LLC assumed coverage on shares of Amprius Technologies in a research report on Thursday, January 29th. They set a “buy” rating and a $20.00 price target on the stock. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $16.57.

Amprius Technologies Trading Down 7.8%

The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -44.31 and a beta of 2.98. The company has a 50 day simple moving average of $10.48 and a 200-day simple moving average of $10.24.

Insider Activity at Amprius Technologies

In related news, CTO Constantin Ionel Stefan sold 492,827 shares of the firm’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $12.04, for a total value of $5,933,637.08. Following the completion of the transaction, the chief technology officer owned 748,696 shares of the company’s stock, valued at approximately $9,014,299.84. This trade represents a 39.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kang Sun sold 1,000,000 shares of Amprius Technologies stock in a transaction on Monday, November 17th. The shares were sold at an average price of $10.60, for a total transaction of $10,600,000.00. Following the completion of the sale, the chief executive officer owned 1,472,306 shares in the company, valued at $15,606,443.60. The trade was a 40.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,399,331 shares of company stock valued at $37,048,615 over the last ninety days. Company insiders own 12.80% of the company’s stock.

Hedge Funds Weigh In On Amprius Technologies

Hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its position in shares of Amprius Technologies by 23.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,194,841 shares of the company’s stock worth $17,317,000 after purchasing an additional 410,724 shares during the last quarter. AXQ Capital LP grew its stake in shares of Amprius Technologies by 21.9% in the fourth quarter. AXQ Capital LP now owns 21,174 shares of the company’s stock valued at $167,000 after buying an additional 3,798 shares in the last quarter. Norges Bank bought a new position in shares of Amprius Technologies in the fourth quarter valued at $10,295,000. Jupiter Asset Management Ltd. increased its holdings in Amprius Technologies by 381.9% during the fourth quarter. Jupiter Asset Management Ltd. now owns 960,912 shares of the company’s stock worth $7,582,000 after buying an additional 761,527 shares during the last quarter. Finally, Intech Investment Management LLC raised its position in Amprius Technologies by 33.8% during the fourth quarter. Intech Investment Management LLC now owns 51,111 shares of the company’s stock worth $403,000 after acquiring an additional 12,908 shares in 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.