Amprius Technologies (NYSE:AMPX) Shares Gap Up - Should You Buy?

Shares of Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $8.06, but opened at $8.45. Amprius Technologies shares last traded at $8.37, with a volume of 2,371,885 shares.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AMPX. Oppenheimer increased their price objective on Amprius Technologies from $14.00 to $15.00 and gave the stock an "outperform" rating in a report on Friday, March 21st. HC Wainwright restated a "buy" rating and issued a $10.00 target price on shares of Amprius Technologies in a research report on Friday, March 21st. William Blair upgraded Amprius Technologies from a "market perform" rating to an "outperform" rating in a research report on Friday. B. Riley restated a "buy" rating and issued a $10.00 target price (up from $6.00) on shares of Amprius Technologies in a research report on Thursday, July 10th. Finally, Roth Mkm restated a "buy" rating and issued a $6.00 target price on shares of Amprius Technologies in a research report on Friday, March 21st. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Amprius Technologies currently has an average rating of "Buy" and a consensus target price of $10.17.

Amprius Technologies Stock Up 7.8%

The business has a 50-day simple moving average of $4.00 and a two-hundred day simple moving average of $3.19. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -21.20 and a beta of 2.68.

Amprius Technologies (NYSE:AMPX - Get Free Report) last announced its quarterly earnings data 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 return on equity of 67.67% and a negative net margin of 133.34%. The company had revenue of $11.28 million during the quarter, compared to the consensus estimate of $8.52 million. On average, analysts forecast that Amprius Technologies, Inc. will post -0.45 EPS for the current year.

Insider Activity

In other news, CEO Kang Sun sold 69,786 shares of the stock in a transaction on Wednesday, May 21st. The stock was 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 owned 1,812,235 shares in the company, valued at approximately $4,403,731.05. This represents a 3.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Constantin Ionel Stefan sold 20,366 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $2.43, for a total value of $49,489.38. Following the sale, the chief technology officer owned 866,134 shares of the company's stock, valued at $2,104,705.62. This trade represents a 2.30% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 117,747 shares of company stock worth $286,125. Insiders own 12.90% of the company's stock.

Institutional Trading of Amprius Technologies

Several large investors have recently added to or reduced their stakes in AMPX. Oppenheimer & Co. Inc. increased its position in Amprius Technologies by 319.4% during the first quarter. Oppenheimer & Co. Inc. now owns 491,378 shares of the company's stock worth $1,317,000 after buying an additional 374,228 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Amprius Technologies in the fourth quarter valued at about $724,000. Two Sigma Advisers LP bought a new position in Amprius Technologies during the fourth quarter worth about $128,000. Geode Capital Management LLC lifted its stake in Amprius Technologies by 6.0% during the fourth quarter. Geode Capital Management LLC now owns 580,819 shares of the company's stock worth $1,626,000 after purchasing an additional 32,681 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in Amprius Technologies by 5,740.5% during the fourth quarter. Renaissance Technologies LLC now owns 765,100 shares of the company's stock worth $2,142,000 after purchasing an additional 752,000 shares during the period. 5.04% of the stock is owned by institutional investors and hedge funds.

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.