Amprius Technologies (NYSE:AMPX) Shares Gap Down – Here’s What Happened

Amprius Technologies, Inc. (NYSE:AMPX) shares gapped down prior to trading on Tuesday . The stock had previously closed at $13.56, but opened at $12.42. Amprius Technologies shares last traded at $12.5910, with a volume of 2,585,774 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AMPX shares. Roth Capital set a $14.00 price target on Amprius Technologies and gave the company a “buy” rating in a research note on Wednesday, October 22nd. B. Riley lifted their price target on Amprius Technologies from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Northland Securities set a $20.00 price target on Amprius Technologies in a research note on Tuesday, October 7th. Cantor Fitzgerald lifted their price target on Amprius Technologies from $10.00 to $12.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Finally, HC Wainwright reissued a “buy” rating and issued a $18.00 price target (up previously from $10.00) on shares of Amprius Technologies in a research note on Friday, August 8th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Amprius Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.71.

Amprius Technologies Price Performance

The business has a 50-day moving average of $10.76 and a 200-day moving average of $6.84. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of -37.30 and a beta of 2.87.

Amprius Technologies (NYSE:AMPX) last released its earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The business had revenue of $15.07 million for the quarter, compared to the consensus estimate of $12.38 million. Amprius Technologies had a negative return on equity of 55.79% and a negative net margin of 84.77%. As a group, equities analysts anticipate that Amprius Technologies, Inc. will post -0.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other Amprius Technologies news, CTO Constantin Ionel Stefan sold 19,159 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total transaction of $130,664.38. Following the transaction, the chief technology officer owned 846,975 shares of the company’s stock, valued at $5,776,369.50. The trade was a 2.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sandra Wallach sold 28,390 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total value of $193,619.80. Following the transaction, the chief financial officer directly owned 1,005,275 shares in the company, valued at approximately $6,855,975.50. This trade represents a 2.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 113,203 shares of company stock valued at $772,044 over the last 90 days. 12.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amprius Technologies

Institutional investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. bought a new stake in shares of Amprius Technologies in the third quarter valued at approximately $74,000. Ameritas Investment Partners Inc. boosted its stake in shares of Amprius Technologies by 2,043.2% in the second quarter. Ameritas Investment Partners Inc. now owns 9,516 shares of the company’s stock valued at $40,000 after buying an additional 9,072 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Amprius Technologies in the second quarter valued at approximately $42,000. Legal & General Group Plc boosted its stake in shares of Amprius Technologies by 1,385.4% in the second quarter. Legal & General Group Plc now owns 10,383 shares of the company’s stock valued at $44,000 after buying an additional 9,684 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of Amprius Technologies in the second quarter valued at approximately $44,000. 5.04% of the stock is currently owned by institutional investors.

About Amprius Technologies

Amprius Technologies, Inc produces and sells ultra-high energy density lithium-ion batteries for mobility applications. The company offers silicon nanowire anode batteries. Its batteries are primarily used for existing and emerging aviation applications, including unmanned aerial systems, such as drones and high-altitude pseudo satellites.