Amprius Technologies (NYSE:AMPX) Shares Up 2.2% - Should You Buy?

Key Points

• Amprius Technologies stock increased by 2.2% to $12.03, with trading volume up 49% from the average.
• Equities analysts have raised their price targets for Amprius Technologies, with HC Wainwright setting a new target of $18.00 and several others providing ratings of "buy" or "overweight."
• The company reported revenues of $15.07 million for the last quarter, exceeding consensus estimates, while also having a negative net margin of 84.77%.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) shares rose 2.2% on Monday . The stock traded as high as $12.07 and last traded at $12.03. Approximately 8,186,631 shares changed hands during trading, an increase of 49% from the average daily volume of 5,492,470 shares. The stock had previously closed at $11.77.

Analysts Set New Price Targets

AMPX has been the subject of several analyst reports. B. Riley raised their price target on shares of Amprius Technologies from $10.00 to $11.00 and gave the company a "buy" rating in a research report on Friday, August 8th. HC Wainwright reaffirmed a "buy" rating and issued a $18.00 target price (up previously from $10.00) on shares of Amprius Technologies in a research report on Friday, August 8th. Roth Capital reaffirmed a "buy" rating and issued a $10.00 target price (up previously from $6.00) on shares of Amprius Technologies in a research report on Tuesday, August 5th. William Blair raised shares of Amprius Technologies from a "market perform" rating to an "outperform" rating in a research report on Friday, July 18th. Finally, Cantor Fitzgerald lifted their target price on shares of Amprius Technologies from $10.00 to $12.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to MarketBeat, Amprius Technologies presently has an average rating of "Buy" and a consensus target price of $11.71.

Amprius Technologies Stock Performance

The company has a market capitalization of $1.48 billion, a P/E ratio of -35.86 and a beta of 2.72. The business's fifty day simple moving average is $7.91 and its 200-day simple moving average is $4.73.

Amprius Technologies (NYSE:AMPX - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.08) by $0.03. Amprius Technologies had a negative net margin of 84.77% and a negative return on equity of 55.79%. The company had revenue of $15.07 million for the quarter, compared to the consensus estimate of $12.38 million. 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, CEO Kang Sun sold 65,654 shares of the business's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $6.82, for a total value of $447,760.28. Following the sale, the chief executive officer directly owned 1,472,306 shares in the company, valued at $10,041,126.92. The trade was a 4.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Constantin Ionel Stefan sold 19,159 shares of the business's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $6.82, for a total transaction of $130,664.38. Following the completion of the sale, the chief technology officer owned 846,975 shares in the company, valued at approximately $5,776,369.50. This trade represents a 2.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,203 shares of company stock worth $772,044 in the last three months. Insiders own 12.80% of the company's stock.

Institutional Trading of Amprius Technologies

A number of large investors have recently made changes to their positions in AMPX. JPMorgan Chase & Co. grew its holdings 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 valued at $4,282,000 after purchasing an additional 1,008,854 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Amprius Technologies by 167.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,593,607 shares of the company's stock worth $6,710,000 after purchasing an additional 998,649 shares during the period. Essex Investment Management Co. LLC purchased a new stake in shares of Amprius Technologies in the 1st quarter worth approximately $2,508,000. Millennium Management LLC purchased a new stake in shares of Amprius Technologies in the 4th quarter worth approximately $2,009,000. Finally, Baird Financial Group Inc. purchased a new stake in shares of Amprius Technologies in the 1st quarter worth approximately $1,341,000. 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.