Amprius Technologies (NYSE:AMPX) Trading Up 4.5% - Should You Buy?

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) shares rose 4.5% during trading on Thursday . The company traded as high as $7.88 and last traded at $7.79. Approximately 3,391,912 shares traded hands during mid-day trading, an increase of 4% from the average daily volume of 3,251,235 shares. The stock had previously closed at $7.45.

Wall Street Analysts Forecast Growth

AMPX has been the subject of a number of analyst reports. Oppenheimer increased their price target on Amprius Technologies from $14.00 to $15.00 and gave the company an "outperform" rating in a report on Friday, March 21st. William Blair upgraded Amprius Technologies from a "market perform" rating to an "outperform" rating in a research report on Friday. Roth Mkm reiterated a "buy" rating and set a $6.00 price target on shares of Amprius Technologies in a research report on Friday, March 21st. HC Wainwright reiterated a "buy" rating and set a $10.00 price target on shares of Amprius Technologies in a research report on Friday, March 21st. Finally, 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 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.com, Amprius Technologies currently has a consensus rating of "Buy" and a consensus target price of $10.17.

Amprius Technologies Stock Performance

The firm has a market capitalization of $1.05 billion, a P/E ratio of -21.62 and a beta of 2.68. The business has a fifty day moving average of $3.88 and a 200-day moving average of $3.15.

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

Insider Buying and Selling

In related news, CTO Constantin Ionel Stefan sold 20,366 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $2.43, for a total value of $49,489.38. Following the completion of the transaction, the chief technology officer directly owned 866,134 shares of the company's stock, valued at $2,104,705.62. This represents a 2.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kang Sun sold 69,786 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $2.43, for a total value 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 $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 sold 117,747 shares of company stock valued at $286,125 in the last three months. 12.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amprius Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMPX. Board of Trustees of The Leland Stanford Junior University bought a new position in Amprius Technologies during the 4th quarter valued at $4,081,000. Essex Investment Management Co. LLC bought a new position in Amprius Technologies during the 1st quarter valued at $2,508,000. Invesco Ltd. boosted its stake in Amprius Technologies by 56.5% during the 4th quarter. Invesco Ltd. now owns 2,484,662 shares of the company's stock valued at $6,957,000 after purchasing an additional 897,222 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Amprius Technologies by 5,740.5% during the 4th quarter. Renaissance Technologies LLC now owns 765,100 shares of the company's stock valued at $2,142,000 after purchasing an additional 752,000 shares in the last quarter. Finally, Millennium Management LLC bought a new position in Amprius Technologies during the 4th quarter valued at $2,009,000. 5.04% of the stock is 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.