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

Key Points

• Amprius Technologies shares experienced a significant price increase, opening at $12.31 after closing at $11.66, with the latest trading price at $12.59.
• Analysts have mixed ratings on the stock, with eight analysts rating it as a Buy and one as a Sell, while the consensus price target stands at $13.71.
• The company reported a revenue of $15.07 million for its latest quarter, surpassing analyst expectations of $12.38 million.

Shares of Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $11.66, but opened at $12.31. Amprius Technologies shares last traded at $12.59, with a volume of 1,598,795 shares changing hands.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AMPX shares. Weiss Ratings reissued a "sell (e+)" rating on shares of Amprius Technologies in a research note on Friday. HC Wainwright reissued a "buy" rating and issued a $18.00 price objective (up from $10.00) on shares of Amprius Technologies in a research note on Friday, August 8th. William Blair raised Amprius Technologies from a "market perform" rating to an "outperform" rating in a report on Friday, July 18th. Cantor Fitzgerald raised their target price on Amprius Technologies from $10.00 to $12.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Finally, Northland Securities set a $20.00 target price on Amprius Technologies in a report on Tuesday, October 7th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $13.71.

Amprius Technologies Trading Up 11.2%

The company has a market cap of $1.62 billion, a price-to-earnings ratio of -39.27 and a beta of 2.85. The company has a fifty day moving average price of $9.95 and a two-hundred day moving average price of $6.24.

Amprius Technologies (NYSE:AMPX - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. Amprius Technologies had a negative return on equity of 55.79% and a negative net margin of 84.77%.The company had revenue of $15.07 million for the quarter, compared to analyst estimates of $12.38 million. Sell-side analysts anticipate that Amprius Technologies, Inc. will post -0.45 EPS for the current fiscal year.

Insider Activity at Amprius Technologies

In related news, CTO Constantin Ionel Stefan sold 19,159 shares of the business's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total value of $130,664.38. Following the sale, the chief technology officer owned 846,975 shares of the company's stock, valued at $5,776,369.50. The trade was a 2.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sandra Wallach sold 28,390 shares of the business's stock in a transaction 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 completion of the sale, the chief financial officer directly owned 1,005,275 shares in the company, valued at approximately $6,855,975.50. This represents a 2.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,203 shares of company stock valued at $772,044 in the last 90 days. 12.90% of the stock is owned by corporate insiders.

Institutional Trading of Amprius Technologies

Several institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its position in Amprius Technologies by 31.1% in the 4th quarter. Bank of America Corp DE now owns 12,890 shares of the company's stock valued at $36,000 after purchasing an additional 3,055 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in Amprius Technologies in the 1st quarter valued at $40,000. Ameritas Investment Partners Inc. raised its position in Amprius Technologies by 2,043.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,516 shares of the company's stock valued at $40,000 after purchasing an additional 9,072 shares during the last quarter. Rhumbline Advisers raised its position in Amprius Technologies by 61.1% in the 1st quarter. Rhumbline Advisers now owns 15,690 shares of the company's stock valued at $42,000 after purchasing an additional 5,951 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Amprius Technologies in the 2nd quarter valued at $42,000. Institutional investors and hedge funds own 5.04% of the company's stock.

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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