Amprius Technologies Stock Falls 3.6% Amid Analyst Ratings Update

Amprius Technologies, Inc. (NYSE: AMPX) experienced a decline in its stock price, falling by 3.6% during mid-day trading on Wednesday. The stock dropped to a low of $10.67 before recovering slightly to close at $11.1350. Notably, trading volume reached 5,630,761 shares, representing a 36% decrease from the average session volume of 8,818,200 shares. The previous closing price was $11.55.

Analysts Offer Mixed Recommendations

Recent evaluations from several equities research analysts have provided a mixed outlook on Amprius Technologies. On December 23, 2023, Oppenheimer reaffirmed an “outperform” rating while setting a price target of $17.00. In contrast, Cantor Fitzgerald raised their price target from $12.00 to $16.00, maintaining an “overweight” rating on November 7, 2023. Weiss Ratings took a more cautious stance, reissuing a “sell (e+)” rating on January 21, 2024.

Roth MKM set a target price of $14.00 and assigned a “buy” rating in a report published on October 22, 2023. Additionally, Needham & Company initiated coverage with a “buy” rating and a target price of $20.00 on January 29, 2024. Overall, seven analysts have rated the stock as a Buy, while one has issued a Sell rating. According to data from MarketBeat, the average rating for Amprius Technologies stands at “Moderate Buy” with a consensus price target of $16.57.

Insider Transactions and Institutional Investments

In related news, Director Kang Sun sold 43,185 shares of Amprius on January 20, 2024, at an average price of $11.03, totaling approximately $476,330.55. Following the transaction, Sun retained 1,403,651 shares, valued at around $15,482,270.53, marking a 2.98% reduction in ownership. The transaction was disclosed in a filing with the U.S. Securities and Exchange Commission (SEC).

Additionally, Chief Technology Officer Constantin Ionel Stefan sold 39,690 shares on January 28, 2024, at an average price of $12.00, amounting to $476,280.00. Stefan now holds 748,696 shares worth approximately $8,984,352, which represents a 5.03% decrease in ownership. Insiders have sold a total of 3,399,331 shares valued at $37,048,615 in the last quarter, with corporate insiders currently owning 12.80% of the company’s stock.

Institutional investors have also shown significant activity regarding Amprius Technologies. Bank of America Corp DE increased its holdings by 31.1% in the fourth quarter, now owning 12,890 shares valued at $36,000 after purchasing an additional 3,055 shares. AQR Capital Management LLC raised its stake by 86.7%, owning 77,764 shares valued at $208,000 following an additional purchase of 36,116 shares.

Other notable increases included Millennium Management LLC, which lifted its holdings by 94.5%, now owning 1,396,013 shares worth $3,741,000, and Goldman Sachs Group Inc., which grew its stake by 128.6% to 244,646 shares valued at $656,000. Currently, institutional investors own 5.04% of Amprius Technologies.

About Amprius Technologies

Amprius Technologies, Inc. is a U.S.-based developer of high-energy-density lithium-ion batteries, utilizing silicon anode technology to deliver performance levels that exceed conventional graphite-based cells. The company’s batteries are engineered to provide industry-leading gravimetric energy density, facilitating longer run times and reduced weight for portable power applications. By integrating advanced materials science with scalable manufacturing processes, Amprius aims to commercialize next-generation battery solutions. Central to its product offerings are cylindrical and prismatic cells that employ a proprietary silicon nanowire anode, which supports high charge and discharge rates while maintaining long cycle life.