Amprius Technologies (NYSE:AMPX) Trading 2.2% Higher - Time to Buy?

Key Points

• Amprius Technologies stock increased by 2.2% to $7.17, with a trading volume significantly lower than its average.
• Analysts have given the stock a consensus rating of "Buy" with a price target of $10.17, reflecting optimism about the company’s future performance.
• Recent reports show insider selling, with CEO Kang Sun offloading shares, marking a 3.71% decrease in his ownership of the stock.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report)'s share price rose 2.2% during trading on Thursday . The company traded as high as $7.33 and last traded at $7.17. Approximately 2,079,073 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 4,756,439 shares. The stock had previously closed at $7.01.

Analyst Upgrades and Downgrades

AMPX has been the subject of a number of research analyst reports. William Blair upgraded Amprius Technologies from a "market perform" rating to an "outperform" rating in a research note on Friday, July 18th. B. Riley reiterated a "buy" rating and set a $10.00 price target (up from $6.00) on shares of Amprius Technologies in a research report on Thursday, July 10th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Amprius Technologies currently has an average rating of "Buy" and a consensus target price of $10.17.

Amprius Technologies Price Performance

The stock has a 50 day moving average price of $5.01 and a 200-day moving average price of $3.50. The stock has a market capitalization of $750.03 million, a price-to-earnings ratio of -15.51 and a beta of 2.71.

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

Insider Buying and Selling

In other news, CEO Kang Sun sold 69,786 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $2.43, for a total transaction of $169,579.98. Following the completion of the transaction, the chief executive officer directly owned 1,812,235 shares of the company's stock, valued at approximately $4,403,731.05. This represents a 3.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Sandra Wallach sold 27,595 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $2.43, for a total value of $67,055.85. Following the completion of the sale, the chief financial officer directly owned 1,033,665 shares of the company's stock, valued at approximately $2,511,805.95. This trade represents a 2.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 117,747 shares of company stock valued at $286,125 in the last three months. 12.90% of the stock is owned by corporate insiders.

Institutional Trading of Amprius Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. raised its stake in shares of Amprius Technologies by 56.5% during the 4th quarter. Invesco Ltd. now owns 2,484,662 shares of the company's stock worth $6,957,000 after buying an additional 897,222 shares in the last quarter. Board of Trustees of The Leland Stanford Junior University acquired a new stake in shares of Amprius Technologies during the fourth quarter worth $4,081,000. Millennium Management LLC boosted its holdings in Amprius Technologies by 94.5% in the first quarter. Millennium Management LLC now owns 1,396,013 shares of the company's stock valued at $3,741,000 after acquiring an additional 678,442 shares during the last quarter. Essex Investment Management Co. LLC acquired a new position in Amprius Technologies in the first quarter valued at $2,508,000. Finally, Renaissance Technologies LLC boosted its holdings in Amprius Technologies by 5,740.5% in the fourth quarter. Renaissance Technologies LLC now owns 765,100 shares of the company's stock valued at $2,142,000 after acquiring an additional 752,000 shares during the last quarter. 5.04% of the stock is owned by hedge funds and other 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.