Amprius Technologies (NYSE:AMPX) Shares Gap Up - Still a Buy?

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $4.94, but opened at $5.39. Amprius Technologies shares last traded at $5.21, with a volume of 4,026,054 shares changing hands.

Wall Street Analyst Weigh In

AMPX has been the topic of a number of recent research reports. HC Wainwright reaffirmed a "buy" rating and issued a $10.00 target price on shares of Amprius Technologies in a research report on Friday, March 21st. Roth Mkm reaffirmed a "buy" rating and issued a $6.00 target price on shares of Amprius Technologies in a research report on Friday, March 21st. B. Riley lifted their target price on Amprius Technologies from $5.00 to $6.00 and gave the company a "buy" rating in a research report on Friday, March 21st. Finally, Oppenheimer lifted their target price on Amprius Technologies from $14.00 to $15.00 and gave the company an "outperform" rating in a research report on Friday, March 21st. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Amprius Technologies currently has a consensus rating of "Buy" and a consensus price target of $9.50.

Amprius Technologies Stock Up 4.4%

The firm has a market cap of $607.93 million, a P/E ratio of -12.65 and a beta of 2.68. The business has a fifty day moving average of $3.16 and a 200 day moving average of $2.91.

Amprius Technologies (NYSE:AMPX - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $8.52 million. Research analysts expect that Amprius Technologies, Inc. will post -0.45 EPS for the current year.

Insider Activity at Amprius Technologies

In other Amprius Technologies news, CTO Constantin Ionel Stefan sold 20,366 shares of the company's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $2.43, for a total transaction of $49,489.38. Following the completion of the sale, the chief technology officer directly owned 866,134 shares in the company, valued at $2,104,705.62. This represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sandra Wallach sold 27,595 shares of the company's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $2.43, for a total value of $67,055.85. Following the sale, the chief financial officer owned 1,033,665 shares of the company's stock, valued at $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. Over the last ninety days, insiders sold 117,747 shares of company stock worth $286,125. Company insiders own 12.80% of the company's stock.

Institutional Investors Weigh In On Amprius Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. increased its holdings in shares of Amprius Technologies by 56.5% during the fourth 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 in the last quarter. Board of Trustees of The Leland Stanford Junior University acquired a new position in shares of Amprius Technologies during the fourth quarter worth $4,081,000. Millennium Management LLC increased its holdings in shares of Amprius Technologies by 94.5% during the first quarter. Millennium Management LLC now owns 1,396,013 shares of the company's stock worth $3,741,000 after buying an additional 678,442 shares in the last quarter. Essex Investment Management Co. LLC acquired a new position in shares of Amprius Technologies during the first quarter worth $2,508,000. Finally, Renaissance Technologies LLC increased its holdings in shares of 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 buying an additional 752,000 shares in the last quarter. 5.04% of the stock is currently owned by 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.

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