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

Amprius Technologies, Inc. (NYSE:AMPX)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $11.58, but opened at $10.85. Amprius Technologies shares last traded at $10.9860, with a volume of 985,085 shares changing hands.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Zacks Research upgraded shares of Amprius Technologies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Wall Street Zen lowered Amprius Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings restated a “sell (e+)” rating on shares of Amprius Technologies in a report on Friday, July 17th. Clear Str began coverage on Amprius Technologies in a research note on Tuesday, June 2nd. They issued a “strong-buy” rating and a $33.00 target price for the company. Finally, Northland Securities set a $24.00 price target on Amprius Technologies in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $23.00.

Amprius Technologies Trading Down 7.3%

The company’s 50 day moving average price is $12.37 and its 200-day moving average price is $14.97. The company has a market capitalization of $1.52 billion, a PE ratio of -37.04 and a beta of 2.34.

Insider Transactions at Amprius Technologies

In other news, Director Kang Sun sold 67,796 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $14.79, for a total transaction of $1,002,702.84. Following the completion of the sale, the director owned 1,280,854 shares in the company, valued at approximately $18,943,830.66. The trade was a 5.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Constantin Ionel Stefan sold 3,208 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $17.19, for a total transaction of $55,145.52. Following the completion of the transaction, the chief technology officer owned 801,310 shares in the company, valued at $13,774,518.90. The trade was a 0.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 310,144 shares of company stock worth $5,049,997 in the last three months. 5.10% of the stock is currently owned by insiders.

Institutional Trading of Amprius Technologies

Institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its stake in shares of Amprius Technologies by 31.1% during the fourth quarter. Bank of America Corp DE now owns 12,890 shares of the company’s stock worth $36,000 after purchasing an additional 3,055 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Amprius Technologies by 86.7% during the first 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 in the last quarter. Millennium Management LLC grew its holdings in Amprius Technologies by 94.5% during the 1st quarter. Millennium Management LLC now owns 1,396,013 shares of the company’s stock valued at $3,741,000 after purchasing an additional 678,442 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Amprius Technologies by 128.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 244,646 shares of the company’s stock worth $656,000 after buying an additional 137,640 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of 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 acquiring an additional 5,951 shares during the last quarter. 5.04% of the stock is owned by hedge funds and other 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.