Amprius Technologies (NYSE:AMPX) Stock Price Up 13.3% - Should You Buy?

Key Points

• Amprius Technologies' stock price increased by 13.3% to $7.21, with a total of approximately 3.5 million shares traded, despite a decline in trading volume compared to average trading days.
• Brokerages have a consensus rating of "Buy" for Amprius Technologies, with target prices raised to an average of $10.17 following recent upgrades from B. Riley and William Blair.
• The company reported better-than-expected earnings of -$0.08 per share and revenues of $11.28 million, surpassing analyst expectations for both metrics.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report)'s share price rose 13.3% during mid-day trading on Monday . The company traded as high as $7.34 and last traded at $7.21. Approximately 3,515,043 shares traded hands during trading, a decline of 27% from the average daily volume of 4,792,010 shares. The stock had previously closed at $6.36.

Analyst Ratings Changes

Several brokerages have weighed in on AMPX. B. Riley reaffirmed 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. William Blair upgraded Amprius Technologies from a "market perform" rating to an "outperform" rating in a research note on Friday, July 18th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $10.17.

Amprius Technologies Stock Performance

The stock has a market capitalization of $912.19 million, a P/E ratio of -18.87 and a beta of 2.72. The business's fifty day moving average price is $5.01 and its two-hundred day moving average price is $3.50.

Amprius Technologies (NYSE:AMPX - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.08) earnings per share for the quarter, topping analysts' consensus estimates of ($0.09) by $0.01. The company had revenue of $11.28 million during the quarter, compared to analysts' expectations of $8.52 million. Amprius Technologies had a negative net margin of 133.34% and a negative return on equity of 67.67%. As a group, analysts forecast that Amprius Technologies, Inc. will post -0.45 earnings per share for the current year.

Insider Activity

In other Amprius Technologies news, CTO Constantin Ionel Stefan sold 20,366 shares of the business'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 transaction, the chief technology officer directly owned 866,134 shares of the company's stock, valued at approximately $2,104,705.62. The trade was a 2.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kang Sun sold 69,786 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 $169,579.98. Following the transaction, the chief executive officer directly owned 1,812,235 shares in the company, valued at approximately $4,403,731.05. This trade represents a 3.71% decrease in their ownership of the stock. 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. 12.80% of the stock is currently owned by company insiders.

Institutional Trading of Amprius Technologies

A number of hedge funds have recently made changes to their positions in AMPX. Mercer Global Advisors Inc. ADV acquired a new position in shares of Amprius Technologies during the fourth quarter valued at $28,000. Bank of America Corp DE raised its stake in shares of Amprius Technologies by 31.1% during the fourth 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 in the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Amprius Technologies during the first quarter valued at about $40,000. Cornerstone Partners Capital Management LLC bought a new stake in shares of Amprius Technologies during the first quarter valued at about $41,000. Finally, Rhumbline Advisers raised its stake in shares of Amprius Technologies by 61.1% during the first quarter. Rhumbline Advisers now owns 15,690 shares of the company's stock valued at $42,000 after purchasing an additional 5,951 shares in the last quarter. 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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