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FREMONT, CA—Sun Kang, the Chief Executive Officer of Amprius Technologies, Inc. (NYSE:AMPX), a $375 million market cap company, recently sold a portion of his shares in the company, according to a Form 4 filing with the Securities and Exchange Commission. According to InvestingPro data, the stock has declined 17% over the past week. The transaction, which took place on February 21, involved the sale of 34,353 shares of common stock at an average price of $3.1332 per share, amounting to a total sale value of $107,634.
This sale was conducted under a non-discretionary, sell-to-cover arrangement mandated by Amprius Technologies to fund tax withholding obligations related to the vesting of restricted stock units. Following this transaction, Kang retains ownership of 1,282,621 shares, which includes 1,064,752 restricted stock units that are subject to vesting schedules and conditions. InvestingPro analysis indicates the stock generally trades with high price volatility, with 13 additional ProTips available for subscribers.
The shares were sold in multiple transactions at prices ranging from $3.06 to $3.215. Kang has committed to providing full details of the individual transactions upon request to the issuer, any security holder, or the Securities and Exchange Commission staff. The company is scheduled to report its next earnings on March 20, 2025, which InvestingPro subscribers can analyze using comprehensive financial metrics and Fair Value models.
In other recent news, Cantor Fitzgerald has initiated coverage on Amprius Technologies, assigning the company an Overweight rating and setting a price target of $10.00. This decision comes after significant advancements in Amprius’s manufacturing capabilities, particularly the successful implementation of a drop-in manufacturing process for its SiCore silicon anode cells in 2024. This innovation allows Amprius to produce high-quality battery cells without the need for a U.S.-based gigawatt-scale production facility, which was initially anticipated to require substantial capital investment. As a result, the company has shifted its strategy to utilize third-party manufacturing resources, alleviating previous concerns about potential dilution of shares. Cantor Fitzgerald’s reassessment of Amprius’s prospects reflects confidence in the company’s ability to capitalize on its silicon anode technology. The favorable Overweight rating suggests optimism about Amprius’s current trajectory in the battery technology sector. These developments are seen as pivotal in positioning Amprius with a positive outlook from the firm.
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