Amprius Technologies (NYSE:AMPX) Reaches New 12-Month High - Still a Buy?

Key Points

• Amprius Technologies (NYSE:AMPX) reached a new 52-week high, trading at $14.07 before closing at $12.70, with significant trading volume of over 10 million shares.
• Analysts have mixed views, with Northland Securities setting a target price of $20.00, while Weiss Ratings maintained a "sell" rating; the consensus overall remains a "Moderate Buy" with an average price target of $13.14.
• In recent insider transactions, CFO Sandra Wallach and CTO Constantin Ionel Stefan sold shares at an average price of $6.82, resulting in a reduction of their ownership percentages in the company.

Shares of Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $14.07 and last traded at $12.70, with a volume of 10336265 shares traded. The stock had previously closed at $13.44.

Wall Street Analyst Weigh In

AMPX has been the topic of a number of research analyst reports. Northland Securities set a $20.00 target price on Amprius Technologies in a research note on Tuesday. Cantor Fitzgerald lifted their price target on Amprius Technologies from $10.00 to $12.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Weiss Ratings restated a "sell (e+)" rating on shares of Amprius Technologies in a research note on Saturday, September 27th. B. Riley lifted their target price on Amprius Technologies from $10.00 to $11.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Finally, HC Wainwright reissued a "buy" rating and issued a $18.00 price target (up from $10.00) on shares of Amprius Technologies in a report on Friday, August 8th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Amprius Technologies has an average rating of "Moderate Buy" and a consensus price target of $13.14.

Amprius Technologies Price Performance

The firm has a fifty day simple moving average of $8.73 and a two-hundred day simple moving average of $5.45. The firm has a market capitalization of $1.59 billion, a P/E ratio of -38.48 and a beta of 2.85.

Amprius Technologies (NYSE:AMPX - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.05) EPS for the quarter, beating analysts' consensus estimates of ($0.08) by $0.03. The firm had revenue of $15.07 million for the quarter, compared to analysts' expectations of $12.38 million. Amprius Technologies had a negative return on equity of 55.79% and a negative net margin of 84.77%. On average, research analysts anticipate that Amprius Technologies, Inc. will post -0.45 EPS for the current year.

Insider Transactions at Amprius Technologies

In other news, CFO Sandra Wallach sold 28,390 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $6.82, for a total value of $193,619.80. Following the sale, the chief financial officer owned 1,005,275 shares of the company's stock, valued at $6,855,975.50. The trade was a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Constantin Ionel Stefan sold 19,159 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total transaction of $130,664.38. Following the completion of the transaction, the chief technology officer directly owned 846,975 shares of the company's stock, valued at approximately $5,776,369.50. This trade represents a 2.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,203 shares of company stock worth $772,044 over the last quarter. Corporate insiders own 12.80% of the company's stock.

Hedge Funds Weigh In On Amprius Technologies

Several hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE lifted its holdings in Amprius Technologies by 31.1% during the 4th quarter. Bank of America Corp DE now owns 12,890 shares of the company's stock worth $36,000 after purchasing an additional 3,055 shares in the last quarter. Rhumbline Advisers increased its position in shares of Amprius Technologies by 61.1% during the first quarter. Rhumbline Advisers now owns 15,690 shares of the company's stock valued at $42,000 after buying an additional 5,951 shares during the period. FNY Investment Advisers LLC purchased a new stake in shares of Amprius Technologies in the first quarter worth about $298,000. Kingswood Wealth Advisors LLC lifted its holdings in shares of Amprius Technologies by 459.2% in the first quarter. Kingswood Wealth Advisors LLC now owns 59,019 shares of the company's stock worth $154,000 after buying an additional 48,465 shares in the last quarter. Finally, Cornerstone Partners Capital Management LLC bought a new position in shares of Amprius Technologies in the first quarter valued at approximately $41,000. 5.04% of the stock is currently owned by hedge funds and other institutional investors.

Amprius Technologies Company Profile

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.

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