Amprius Technologies (NYSE:AMPX) Hits New 12-Month High - Should You Buy?

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $4.30 and last traded at $4.27, with a volume of 7995013 shares trading hands. The stock had previously closed at $3.78.

Wall Street Analyst Weigh In

AMPX has been the subject of several research analyst reports. B. Riley lifted their target price on shares of Amprius Technologies from $5.00 to $6.00 and gave the company a "buy" rating in a research report on Friday, March 21st. Roth Mkm restated a "buy" rating and issued a $6.00 price objective on shares of Amprius Technologies in a report on Friday, March 21st. Oppenheimer boosted their price objective on shares of Amprius Technologies from $14.00 to $15.00 and gave the stock an "outperform" rating in a report on Friday, March 21st. Finally, HC Wainwright restated a "buy" rating and issued a $10.00 price objective on shares of Amprius Technologies in a report on Friday, March 21st. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $9.50.

Amprius Technologies Trading Down 5.3%

The stock has a market capitalization of $477.03 million, a P/E ratio of -9.87 and a beta of 2.37. The stock's fifty day moving average price is $2.91 and its two-hundred day moving average price is $2.79.

Amprius Technologies (NYSE:AMPX - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.08) EPS for the quarter, beating analysts' consensus estimates of ($0.09) by $0.01. Amprius Technologies had a negative net margin of 133.34% and a negative return on equity of 67.67%. The company had revenue of $11.28 million during the quarter, compared to analyst estimates of $8.52 million. As a group, analysts expect that Amprius Technologies, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Activity at Amprius Technologies

In related news, CEO Kang Sun sold 69,786 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $2.43, for a total transaction of $169,579.98. Following the completion of the sale, the chief executive officer now directly owns 1,812,235 shares in the company, valued at $4,403,731.05. This represents a 3.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Sandra Wallach sold 27,595 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $2.43, for a total transaction of $67,055.85. Following the transaction, the chief financial officer now directly owns 1,033,665 shares in the company, valued at approximately $2,511,805.95. The trade was a 2.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 117,747 shares of company stock worth $286,125 in the last three months. 12.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AMPX. Board of Trustees of The Leland Stanford Junior University purchased a new position in Amprius Technologies during the 4th quarter valued at $4,081,000. Essex Investment Management Co. LLC purchased a new stake in shares of Amprius Technologies in the 1st quarter worth about $2,508,000. Invesco Ltd. grew its position in shares of Amprius Technologies by 56.5% in the 4th quarter. Invesco Ltd. now owns 2,484,662 shares of the company's stock worth $6,957,000 after buying an additional 897,222 shares during the period. Renaissance Technologies LLC grew its position in shares of Amprius Technologies by 5,740.5% in the 4th quarter. Renaissance Technologies LLC now owns 765,100 shares of the company's stock worth $2,142,000 after buying an additional 752,000 shares during the period. Finally, Millennium Management LLC purchased a new stake in shares of Amprius Technologies in the 4th quarter worth about $2,009,000. 5.04% of the stock is owned by hedge funds and other institutional investors.

About Amprius Technologies

Amprius Technologies, Inc produces and sells ultra-high energy density lithium-ion batteries for mobility applications. The company offers silicon nanowire anode batteries. Its batteries are primarily used for existing and emerging aviation applications, including unmanned aerial systems, such as drones and high-altitude pseudo satellites.