Amprius Technologies (NYSE:AMPX) Sets New 12-Month Low – Time to Sell?

Amprius Technologies, Inc. (NYSE:AMPX)’s stock price reached a new 52-week low during trading on Wednesday. The company traded as low as $7.26 and last traded at $7.5950, with a volume of 4,126,725 shares traded. The stock had previously closed at $7.59.

Analysts Set New Price Targets

Several research firms have recently commented on AMPX. HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Amprius Technologies in a research note on Tuesday, September 29th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Amprius Technologies in a report on Thursday, October 15th. National Bank Financial set a $18.00 price target on Amprius Technologies in a report on Tuesday, September 29th. Zacks Research raised Amprius Technologies from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, Canaccord Genuity Group started coverage on shares of Amprius Technologies in a report on Wednesday, October 14th. They set a “buy” rating and a $14.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.42.

Amprius Technologies Price Performance

The business’s 50-day moving average is $9.55 and its two-hundred day moving average is $13.38. The firm has a market cap of $1.12 billion, a P/E ratio of -27.19 and a beta of 2.33.

Insider Buying and Selling

In related news, Director Kang Sun sold 62,101 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $10.34, for a total value of $642,124.34. Following the transaction, the director owned 1,218,397 shares in the company, valued at approximately $12,598,224.98. This represents a 4.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Constantin Stefan sold 29,681 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $10.34, for a total transaction of $306,901.54. Following the completion of the transaction, the chief technology officer directly owned 771,629 shares in the company, valued at approximately $7,978,643.86. This represents a 3.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 123,311 shares of company stock valued at $1,272,556. 5.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Amprius Technologies

Large investors have recently made changes to their positions in the company. Sterling Capital Management LLC boosted its stake in Amprius Technologies by 847.2% in the 3rd quarter. Sterling Capital Management LLC now owns 4,575 shares of the company’s stock valued at $44,000 after purchasing an additional 4,092 shares during the period. Inspire Investing LLC increased its position in Amprius Technologies by 31.2% during the 3rd quarter. Inspire Investing LLC now owns 64,702 shares of the company’s stock worth $626,000 after buying an additional 15,392 shares during the period. Hidden Cove Wealth Management LLC increased its position in Amprius Technologies by 24.3% during the 3rd quarter. Hidden Cove Wealth Management LLC now owns 21,913 shares of the company’s stock worth $212,000 after buying an additional 4,285 shares during the period. TD Waterhouse Canada Inc. lifted its holdings in shares of Amprius Technologies by 380.0% during the third quarter. TD Waterhouse Canada Inc. now owns 10,105 shares of the company’s stock worth $97,000 after buying an additional 8,000 shares in the last quarter. Finally, SLT Holdings LLC grew its stake in shares of Amprius Technologies by 3.8% in the third quarter. SLT Holdings LLC now owns 122,250 shares of the company’s stock valued at $1,183,000 after acquiring an additional 4,500 shares in the last quarter. Institutional investors own 5.04% of the company’s stock.

Amprius Technologies Company Profile

Amprius Technologies, Inc develops and manufactures high-performance lithium-ion batteries using its silicon nanowire anode technology. The company’s batteries are designed to provide greater energy density and faster charging than conventional lithium-ion cells, supporting applications where weight, size and performance are important.

Its product portfolio includes lightweight pouch-format battery cells and related battery technologies for electric aviation, aerospace, defense, drones, high-altitude platforms, electric vehicles and other e-mobility applications.