Amprius Technologies, Inc. (NYSE:AMPX) Chief Financial Officer Sandra Wallach has sold a significant number of shares in the company, according to the latest regulatory filings. The transactions, which took place on May 21 and May 22, 2024, involved the sale of a total of 18,794 shares of Amprius Technologies' common stock, yielding over $25,000.
On May 21, Wallach sold 10,549 shares at an average price of $1.3276, with the sales conducted in multiple transactions ranging from $1.31 to $1.345 per share. The following day, an additional 8,245 shares were sold at an average price of $1.356, with individual sales prices varying from $1.31 to $1.3824 per share. The combined sales across both days amounted to a total of approximately $25,185.
These sales were executed as part of a non-discretionary, sell-to-cover arrangement mandated by Amprius Technologies to cover tax withholding obligations that arose from the vesting of restricted stock units. Following these transactions, Wallach's remaining direct ownership in the company includes 730,906 shares, which also accounts for 702,844 restricted stock units pending vesting conditions.
Amprius Technologies, a company operating in the miscellaneous electrical machinery, equipment, and supplies sector, has been under the leadership of Wallach as CFO, playing a key role in the company's financial strategies.
Investors and followers of Amprius Technologies will continue to monitor insider trading activity as an indicator of executive confidence and company performance. The disclosed sales provide transparency into the financial moves of the company's top executives, which can often influence investor sentiment.
InvestingPro Insights
Amidst the news of Amprius Technologies' CFO Sandra Wallach selling shares, investors are keen to understand the broader financial context of the company. Amprius Technologies, with its current market capitalization standing at $132.26 million, is navigating a challenging financial landscape. The company's revenue shows a remarkable year-over-year growth of 259.64%, reflecting a promising increase in sales. However, this surge is juxtaposed against a backdrop of significant gross profit margin contraction, reported at -145.7% for the last twelve months as of Q1 2024, highlighting the cost-related pressures the company is facing.
Furthermore, the stock's performance has been notably volatile. Over the last year, the price has plummeted by 81.55%, indicating a period of bearish sentiment among investors. This is consistent with one of the InvestingPro Tips which points out that the stock generally trades with high price volatility, and that the price has fallen significantly over the past year. Additionally, with a P/E ratio of -3.61, the market is signaling skepticism about the company's earnings potential in the near term.
For investors seeking a deeper analysis, there are 15 additional InvestingPro Tips available for Amprius Technologies at https://www.investing.com/pro/AMPX. These tips offer insights such as the company's cash burn rate and its valuation multiples, which could be pivotal for making informed decisions. Moreover, readers can take advantage of a special offer using the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription, gaining access to an even broader array of investment analytics and data.
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