Amprius Technologies (NYSE:AMPX) Stock Price Up 13.3% - Time to Buy?

Key Points

• Amprius Technologies shares surged by 13.3%, reaching a high of $10.43, with significant trading volume of over 16 million shares on the day.
• Analysts are optimistic about the stock, with multiple ratings upgraded; HC Wainwright set a target of $18.00 and other firms raised their targets as well, indicating a strong average price target of $11.71.
• For the most recent quarter, Amprius reported $15.07 million in revenue, exceeding expectations, but it still faces challenges with a negative net margin of 84.77%.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report)'s stock price was up 13.3% during mid-day trading on Wednesday . The stock traded as high as $10.43 and last traded at $10.36. Approximately 16,307,234 shares changed hands during trading, an increase of 204% from the average daily volume of 5,361,362 shares. The stock had previously closed at $9.14.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AMPX shares. Roth Capital reaffirmed a "buy" rating and set a $10.00 price target (up previously from $6.00) on shares of Amprius Technologies in a research note on Tuesday, August 5th. HC Wainwright reissued a "buy" rating and issued a $18.00 target price (up previously from $10.00) on shares of Amprius Technologies in a research note on Friday, August 8th. William Blair raised shares of Amprius Technologies from a "market perform" rating to an "outperform" rating in a research note on Friday, July 18th. B. Riley boosted their target price on shares of Amprius Technologies from $10.00 to $11.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Finally, Cantor Fitzgerald boosted their target price on shares of Amprius Technologies from $10.00 to $12.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. One 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, the stock has a consensus rating of "Buy" and a consensus target price of $11.71.

Amprius Technologies Stock Performance

The firm has a market cap of $1.47 billion, a PE ratio of -35.70 and a beta of 2.72. The stock has a fifty day moving average price of $7.80 and a 200-day moving average price of $4.64.

Amprius Technologies (NYSE:AMPX - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $15.07 million during the quarter, compared to analysts' expectations of $12.38 million. As a group, equities analysts predict that Amprius Technologies, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Transactions at Amprius Technologies

In related news, CEO Kang Sun sold 65,654 shares of the business'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 transaction of $447,760.28. Following the transaction, the chief executive officer directly owned 1,472,306 shares of the company's stock, valued at approximately $10,041,126.92. The trade was a 4.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Sandra Wallach sold 28,390 shares of the business'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 $193,619.80. Following the transaction, the chief financial officer directly owned 1,005,275 shares in the company, valued at $6,855,975.50. This trade represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,203 shares of company stock worth $772,044. 12.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amprius Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its position in Amprius Technologies by 167.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,593,607 shares of the company's stock worth $6,710,000 after acquiring an additional 998,649 shares in the last quarter. Millennium Management LLC lifted its position in Amprius Technologies by 94.5% during the 1st quarter. Millennium Management LLC now owns 1,396,013 shares of the company's stock worth $3,741,000 after acquiring an additional 678,442 shares in the last quarter. Marshall Wace LLP lifted its position in Amprius Technologies by 16.1% during the 2nd quarter. Marshall Wace LLP now owns 1,105,413 shares of the company's stock worth $4,654,000 after acquiring an additional 153,476 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Amprius Technologies by 12,063.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,017,217 shares of the company's stock worth $4,282,000 after acquiring an additional 1,008,854 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its position in Amprius Technologies by 99.9% during the 2nd quarter. Baird Financial Group Inc. now owns 1,000,711 shares of the company's stock worth $4,213,000 after acquiring an additional 500,212 shares in the last quarter. 5.04% of the stock is owned by institutional investors and hedge funds.

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.