Amprius Technologies (NYSE:AMPX) Shares Up 1.3% - Still a Buy?

Key Points

• Amprius Technologies' shares rose by 1.3% to close at $8.31, despite a 30% decline in trading volume compared to its average.
• Wall Street analysts are optimistic, with a consensus rating of "Buy" and a price target averaging $10.17, boosted by recent upgrades from brokers like B. Riley and William Blair.
• The company reported a negative EPS of ($0.08) in its latest quarter but exceeded revenue expectations with $11.28 million.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report)'s share price rose 1.3% during mid-day trading on Monday . The company traded as high as $8.65 and last traded at $8.31. Approximately 3,263,815 shares traded hands during mid-day trading, a decline of 30% from the average daily volume of 4,688,511 shares. The stock had previously closed at $8.20.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AMPX. B. Riley restated a "buy" rating and set a $10.00 target price (up previously from $6.00) on shares of Amprius Technologies in a research report on Thursday, July 10th. William Blair raised shares of Amprius Technologies from a "market perform" rating to an "outperform" rating in a report on Friday, July 18th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $10.17.

Amprius Technologies Price Performance

The firm has a market cap of $976.81 million, a PE ratio of -20.26 and a beta of 2.68. The firm has a 50-day simple moving average of $4.55 and a 200 day simple moving average of $3.37.

Amprius Technologies (NYSE:AMPX - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.08) earnings per share (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 business had revenue of $11.28 million during the quarter, compared to the consensus estimate of $8.52 million. Sell-side analysts forecast that Amprius Technologies, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Transactions at Amprius Technologies

In other news, CEO Kang Sun sold 69,786 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer owned 1,812,235 shares of the company's stock, valued at approximately $4,403,731.05. The trade was a 3.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Constantin Ionel Stefan sold 20,366 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 value of $49,489.38. Following the completion of the transaction, the chief technology officer directly owned 866,134 shares in the company, 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. Insiders have sold 117,747 shares of company stock valued at $286,125 in the last ninety days. Corporate insiders own 12.80% of the company's stock.

Institutional Investors Weigh In On Amprius Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the company. Board of Trustees of The Leland Stanford Junior University acquired a new position in shares of Amprius Technologies in the 4th quarter valued at $4,081,000. Essex Investment Management Co. LLC purchased a new stake in shares of Amprius Technologies in the first quarter valued at approximately $2,508,000. Invesco Ltd. increased its position in shares of Amprius Technologies by 56.5% in the fourth quarter. Invesco Ltd. now owns 2,484,662 shares of the company's stock valued at $6,957,000 after buying an additional 897,222 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Amprius Technologies by 5,740.5% in the fourth quarter. Renaissance Technologies LLC now owns 765,100 shares of the company's stock valued at $2,142,000 after buying an additional 752,000 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of Amprius Technologies during the fourth quarter worth approximately $2,009,000. Institutional investors and hedge funds own 5.04% of the company's stock.

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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