Amprius Technologies (NYSE:AMPX) Stock Price Up 4.3% - Still a Buy?

Key Points

• Amprius Technologies' stock price increased by 4.3% on Monday, trading between $7.42 and $7.94, alongside a volume decrease of 9% from its average session.
• Several analysts have upgraded their ratings, with HC Wainwright setting a price target of $18.00, indicating significant growth potential for the company.
• The company reported a quarterly earnings beat with $15.07 million in revenue, surpassing estimates and positioning itself for further improvement in profitability, despite negative return metrics.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report)'s share price traded up 4.3% during mid-day trading on Monday . The stock traded as high as $7.94 and last traded at $7.42. 4,656,129 shares changed hands during trading, a decline of 9% from the average session volume of 5,111,662 shares. The stock had previously closed at $7.11.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AMPX. William Blair raised shares of Amprius Technologies from a "market perform" rating to an "outperform" rating in a report on Friday, July 18th. B. Riley lifted their price target on Amprius Technologies from $10.00 to $11.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Cantor Fitzgerald lifted their price target on Amprius Technologies from $10.00 to $12.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. HC Wainwright reissued a "buy" rating and issued a $18.00 price target (up from $10.00) on shares of Amprius Technologies in a research report on Friday, August 8th. Finally, Roth Capital reiterated a "buy" rating and set a $10.00 price target (up from $6.00) on shares of Amprius Technologies in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $11.71.

Amprius Technologies Price Performance

The company has a market capitalization of $953.70 million, a PE ratio of -23.11 and a beta of 2.72. The firm has a 50-day moving average of $7.02 and a 200 day moving average of $4.20.

Amprius Technologies (NYSE:AMPX - Get Free Report) last issued 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 during the quarter, compared to analyst estimates of $12.38 million. Equities analysts expect that Amprius Technologies, Inc. will post -0.45 EPS for the current year.

Insider Activity

In other news, CEO Kang Sun sold 65,654 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total value of $447,760.28. Following the completion of the sale, the chief executive officer directly owned 1,472,306 shares of the company's stock, valued at $10,041,126.92. This trade represents a 4.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Constantin Ionel Stefan sold 19,159 shares of the stock in a transaction on Thursday, August 21st. The shares were 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. This trade represents a 2.21% 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 worth $772,044 over the last ninety days. Company insiders own 12.90% of the company's stock.

Hedge Funds Weigh In On Amprius Technologies

A number of institutional investors have recently added to or reduced their stakes in the business. Northern Trust Corp boosted its stake in Amprius Technologies by 33.6% during the fourth quarter. Northern Trust Corp now owns 208,420 shares of the company's stock valued at $584,000 after buying an additional 52,370 shares during the last quarter. Jane Street Group LLC bought a new position in Amprius Technologies in the fourth quarter worth about $724,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Amprius Technologies in the 4th quarter valued at about $28,000. Bank of America Corp DE raised its stake in shares of 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 buying an additional 3,055 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in shares of Amprius Technologies in the 4th quarter valued at approximately $2,009,000. 5.04% of the stock is currently owned by institutional investors.

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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