Amprius Technologies (NYSE:AMPX) Trading 4.5% Higher - Time to Buy?

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

Analysts Set New Price Targets

AMPX has been the topic of several research analyst reports. William Blair raised shares of Amprius Technologies from a "market perform" rating to an "outperform" rating in a report on Friday. B. Riley reaffirmed a "buy" rating and issued a $10.00 price target (up previously from $6.00) on shares of Amprius Technologies in a report on Thursday, July 10th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $10.17.

Amprius Technologies Stock Performance

The firm has a 50-day moving average price of $4.00 and a 200-day moving average price of $3.19. The stock has a market cap of $1.02 billion, a PE ratio of -21.20 and a beta of 2.68.

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

Insider Buying and Selling at Amprius Technologies

In other news, CEO Kang Sun sold 69,786 shares of Amprius Technologies stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $2.43, for a total transaction of $169,579.98. Following the completion of the sale, the chief executive officer owned 1,812,235 shares of the company's stock, valued at approximately $4,403,731.05. The trade was a 3.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Constantin Ionel Stefan sold 20,366 shares of the stock in a transaction 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 transaction, the chief technology officer directly owned 866,134 shares in the company, valued at $2,104,705.62. The trade was a 2.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 117,747 shares of company stock valued at $286,125 in the last 90 days. Insiders own 12.90% of the company's stock.

Institutional Trading of Amprius Technologies

A number of institutional investors have recently modified their holdings of AMPX. Board of Trustees of The Leland Stanford Junior University purchased a new stake in shares of Amprius Technologies during the fourth quarter valued at $4,081,000. Essex Investment Management Co. LLC purchased a new position in shares of Amprius Technologies in the first quarter worth about $2,508,000. Invesco Ltd. lifted its holdings in shares of Amprius Technologies by 56.5% during the fourth quarter. Invesco Ltd. now owns 2,484,662 shares of the company's stock worth $6,957,000 after purchasing an additional 897,222 shares during the period. Renaissance Technologies LLC boosted its position 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 buying an additional 752,000 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in Amprius Technologies in the 4th quarter worth 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.