Amprius Technologies (NYSE:AMPX) Trading Down 6.7% – Here’s Why

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on AMPX shares. Oppenheimer reiterated an “outperform” rating and set a $17.00 price objective on shares of Amprius Technologies in a research report on Tuesday, December 23rd. 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 for the company. Craig Hallum assumed coverage on Amprius Technologies in a research note on Monday. They issued a “buy” rating and a $17.00 price target on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Amprius Technologies in a report on Wednesday, January 21st. Finally, Cantor Fitzgerald raised their target price 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. Eight analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Amprius Technologies currently has an average rating of “Moderate Buy” and an average target price of $16.63.

Amprius Technologies Price Performance

The firm has a market capitalization of $1.40 billion, a PE ratio of -41.33 and a beta of 2.99. The company has a fifty day moving average of $10.37 and a 200-day moving average of $10.46.

Insiders Place Their Bets

In other Amprius Technologies news, CTO Constantin Ionel Stefan sold 25,366 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $10.16, for a total transaction of $257,718.56. Following the completion of the transaction, the chief technology officer owned 723,330 shares of the company’s stock, valued at $7,349,032.80. The trade was a 3.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kang Sun sold 61,251 shares of the company’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $10.16, for a total transaction of $622,310.16. Following the sale, the director 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 disclosure for this sale is available in the SEC filing. Insiders sold 2,392,269 shares of company stock valued at $26,384,359 over the last 90 days. 12.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Amprius Technologies

Hedge funds have recently modified their holdings of the business. Bank of America Corp DE raised its stake in 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 last quarter. AQR Capital Management LLC increased its holdings in shares of 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 purchasing an additional 36,116 shares during the period. Millennium Management LLC raised its position in shares of Amprius Technologies by 94.5% during the first quarter. Millennium Management LLC now owns 1,396,013 shares of the company’s stock valued at $3,741,000 after buying 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 first quarter. Goldman Sachs Group Inc. now owns 244,646 shares of the company’s stock valued at $656,000 after buying an additional 137,640 shares during the period. Finally, Rhumbline Advisers grew its position in Amprius Technologies by 61.1% during the first quarter. Rhumbline Advisers now owns 15,690 shares of the company’s stock worth $42,000 after buying an additional 5,951 shares in the last quarter. 5.04% of the stock is owned by institutional investors.

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.