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Sandra Wallach, the Chief Financial Officer of Amprius Technologies, Inc. (NYSE:AMPX), recently sold 18,142 shares of the company’s common stock. The sale, executed on February 21, was conducted at an average price of $3.1332 per share, resulting in a total transaction value of approximately $56,842. The stock, currently trading at $2.79, has shown significant volatility with a 144% gain over the past six months, according to InvestingPro data.
The transaction was part of a non-discretionary, sell-to-cover arrangement mandated by Amprius Technologies to cover tax withholding obligations related to the vesting of restricted stock units. Following the sale, Wallach retains ownership of 678,000 shares, which includes 562,275 restricted stock units. These units represent a contingent right to receive one share of Amprius Technologies’ common stock, subject to specific vesting schedules and conditions. The company, with a market capitalization of $375 million, maintains strong liquidity with a current ratio of 3.46.
The shares were sold in multiple transactions, with prices ranging from $3.06 to $3.215. Wallach has expressed willingness to provide further details about the number of shares sold at each price upon request. For deeper insights into AMPX’s valuation and financial health metrics, including 15+ additional ProTips, access the comprehensive research report available on InvestingPro.
In other recent news, Amprius Technologies has received an Overweight rating from Cantor Fitzgerald, with a price target set at $10.00. This positive assessment follows significant advancements in Amprius’s manufacturing capabilities, particularly their implementation of a drop-in manufacturing process for SiCore silicon anode cells. This process allows for the production of high-quality battery cells without significant compromises in energy density or power. Previously, Amprius had plans for a gigawatt-scale facility in the United States, which was expected to require substantial capital investment and potentially lead to more than 100% dilution of shares. However, the new manufacturing strategy has alleviated the need for a U.S.-based production facility. By utilizing third-party manufacturing resources, Amprius can produce its proprietary battery cells more efficiently. Cantor Fitzgerald’s reassessment and initiation of coverage with an Overweight rating reflect confidence in Amprius’s ability to capitalize on its technology without the logistical burdens of establishing a large-scale manufacturing facility. These developments have positioned Amprius Technologies with a positive outlook within the battery technology sector.
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