Amprius Technologies (NYSE:AMPX) Stock Price Up 1.1% - Still a Buy?

Key Points

• Amprius Technologies (NYSE:AMPX) shares rose by 1.1% on Monday, trading at $7.19, with a notable decline in trading volume of 72% from average levels.
• Analysts have a consensus rating of Buy for Amprius Technologies, with target prices ranging from $10.00 to $18.00, indicating strong bullish sentiment around the stock.
• The company reported quarterly revenue of $15.07 million, exceeding analyst estimates, while continuing to struggle with negative margins and a projected -0.45 EPS for the current year.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report)'s share price rose 1.1% on Monday . The stock traded as high as $7.16 and last traded at $7.19. Approximately 1,431,451 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 5,114,384 shares. The stock had previously closed at $7.11.

Wall Street Analysts Forecast Growth

AMPX has been the subject of several research analyst reports. HC Wainwright reissued a "buy" rating and issued a $18.00 price objective (up from $10.00) on shares of Amprius Technologies in a report on Friday, August 8th. B. Riley boosted their price objective on Amprius Technologies from $10.00 to $11.00 and gave the company a "buy" rating in a report on Friday, August 8th. Roth Capital reissued a "buy" rating and issued a $10.00 price objective (up from $6.00) on shares of Amprius Technologies in a report on Tuesday, August 5th. William Blair upgraded Amprius Technologies from a "market perform" rating to an "outperform" rating in a research note on Friday, July 18th. Finally, Cantor Fitzgerald lifted their target price on Amprius Technologies from $10.00 to $12.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $11.71.

Amprius Technologies Stock Up 1.8%

The stock has a 50 day simple moving average of $6.00 and a 200 day simple moving average of $3.80. The company has a market capitalization of $904.95 million, a price-to-earnings ratio of -21.95 and a beta of 2.72.

Amprius Technologies (NYSE:AMPX - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.03. The company had revenue of $15.07 million for the quarter, compared to analyst estimates of $12.38 million. Amprius Technologies had a negative net margin of 84.77% and a negative return on equity of 55.79%. As a group, analysts forecast 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 27,595 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 $67,055.85. Following the completion of the transaction, the chief financial officer directly owned 1,033,665 shares in the company, valued at approximately $2,511,805.95. The trade was a 2.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Constantin Ionel Stefan sold 20,366 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 value of $49,489.38. Following the transaction, the chief technology officer owned 866,134 shares of the company's stock, valued at approximately $2,104,705.62. This represents a 2.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 117,747 shares of company stock worth $286,125. Company insiders own 12.80% of the company's stock.

Hedge Funds Weigh In On Amprius Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Personalized Indexing Management LLC lifted its position in Amprius Technologies by 17.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 19,134 shares of the company's stock worth $81,000 after purchasing an additional 2,873 shares during the period. Bank of America Corp DE lifted its position in Amprius Technologies by 31.1% in the fourth 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 during the period. Rhumbline Advisers lifted its position in Amprius Technologies by 61.1% in the first quarter. Rhumbline Advisers now owns 15,690 shares of the company's stock worth $42,000 after purchasing an additional 5,951 shares during the period. Ameritas Investment Partners Inc. lifted its position in Amprius Technologies by 2,043.2% in the second quarter. Ameritas Investment Partners Inc. now owns 9,516 shares of the company's stock worth $40,000 after purchasing an additional 9,072 shares during the period. Finally, Legal & General Group Plc lifted its position in Amprius Technologies by 1,385.4% in the second quarter. Legal & General Group Plc now owns 10,383 shares of the company's stock worth $44,000 after purchasing an additional 9,684 shares during the period. 5.04% of the stock is currently owned by institutional investors and hedge funds.

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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