Amprius Technologies, Inc. (NYSE:AMPX) has reported a series of stock transactions by executive Sun Kang, who sold a total of $47,684 worth of company shares. The sales took place on May 21 and May 22, with the prices per share ranging between $1.3276 and $1.356.
On May 21, Kang sold 19,973 shares at an average price of $1.3276 per share. The following day, an additional 15,611 shares were sold at an average price of $1.356 per share. These transactions were carried out 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.
The sales were executed in multiple transactions within specified price ranges. On the first day, shares were sold at prices from $1.31 to $1.345, while the second day saw shares sold at prices from $1.31 to $1.3824. Sun Kang has committed to providing full information regarding the number of shares sold at each separate price within the range if requested by the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission.
Following these transactions, Kang still holds a significant number of shares in Amprius Technologies, including 1,330,941 restricted stock units, which represent a contingent right to receive shares of the company's common stock upon vesting.
The reported sales were signed off by Sandra Wallach, attorney-in-fact for Kang Sun, and the transactions were publicly filed on May 24, as per regulatory requirements.
InvestingPro Insights
Amprius Technologies, Inc. (NYSE:AMPX) has been navigating a challenging market, reflected in the recent stock transactions by executive Sun Kang. As investors evaluate the impact of these sales on their portfolios, certain metrics and insights from InvestingPro could provide a clearer picture of the company's financial health and future prospects.
For investors looking for real-time data, Amprius Technologies currently holds a market capitalization of $132.26 million. Despite significant sales growth in the last twelve months, with a revenue increase of 259.64%, the company's gross profit margin remains negative at -145.7%, indicating that it is not just growing, but also spending heavily, which is consistent with the InvestingPro Tip that the company is quickly burning through cash. Additionally, the stock is trading with a negative P/E ratio of -3.61, suggesting that the market expects future losses or that the company is currently unprofitable, which aligns with the analysis that analysts do not anticipate the company will be profitable this year.
InvestingPro Tips highlight two key points for potential investors: Amprius Technologies holds more cash than debt, which could be a sign of financial stability, and analysts expect sales growth in the current year, indicating potential for future revenue increases. However, it's important to note that the company's stock has experienced high price volatility and has seen a significant price drop over the past year, with a 1-year price total return of -81.55%. These factors should be carefully considered when assessing the company's stock performance and potential investment risks.
To gain access to a full suite of analytical tools and additional InvestingPro Tips for Amprius Technologies, interested investors can visit https://www.investing.com/pro/AMPX. There are 15 additional tips available on InvestingPro that could further inform investment decisions. To enhance the value of a subscription, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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