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 trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AMPX. HC Wainwright reiterated a “buy” rating and issued a $18.00 price objective (up from $10.00) on shares of Amprius Technologies in a research report on Friday, August 8th. Cantor Fitzgerald increased their price objective on Amprius Technologies from $10.00 to $12.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. B. Riley increased their price objective on Amprius Technologies from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Roth Capital set a $14.00 price objective on Amprius Technologies and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Finally, William Blair upgraded Amprius Technologies from a “market perform” rating to an “outperform” rating in a research report on Friday, July 18th. Eight analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.71.

Amprius Technologies Stock Performance

The firm has a market capitalization of $1.54 billion, a P/E ratio of -37.30 and a beta of 2.87. The company has a 50-day moving average price of $10.76 and a 200-day moving average price of $6.84.

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

Insiders Place Their Bets

In other Amprius Technologies news, CTO Constantin Ionel Stefan sold 19,159 shares of Amprius Technologies stock in a transaction dated 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 directly owned 846,975 shares in the company, valued at approximately $5,776,369.50. The trade was a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Sandra Wallach sold 28,390 shares of Amprius Technologies stock in a transaction dated 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 owned 1,005,275 shares in the company, valued at approximately $6,855,975.50. This represents a 2.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 113,203 shares of company stock worth $772,044. Corporate insiders own 12.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. bought a new position in Amprius Technologies during the third quarter worth about $74,000. Ameritas Investment Partners Inc. lifted its holdings in Amprius Technologies by 2,043.2% during the second quarter. Ameritas Investment Partners Inc. now owns 9,516 shares of the company’s stock worth $40,000 after acquiring an additional 9,072 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Amprius Technologies in the 2nd quarter valued at about $42,000. Legal & General Group Plc raised its stake in shares of Amprius Technologies by 1,385.4% in the 2nd quarter. Legal & General Group Plc now owns 10,383 shares of the company’s stock valued at $44,000 after purchasing an additional 9,684 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of Amprius Technologies in the 2nd quarter valued at about $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.