Amprius Technologies (NYSE:AMPX) Trading Up 8.7% - Should You Buy?

Key Points

• Amprius Technologies' stock price rose by 8.7% to $11.43, despite a decrease in trading volume by 34% compared to its average.
• Several analysts have raised their target prices for AMPX, with HC Wainwright setting the highest at $18.00, reflecting a strong consensus rating of "Buy" for the stock.
• Insider transactions revealed that CEO Kang Sun and CTO Constantin Ionel Stefan sold shares, indicating a decrease in their ownership percentages, though corporate insiders still hold 12.80% of the company's stock.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report)'s share price was up 8.7% on Wednesday . The company traded as high as $11.31 and last traded at $11.43. Approximately 3,687,128 shares traded hands during mid-day trading, a decline of 34% from the average daily volume of 5,561,657 shares. The stock had previously closed at $10.52.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AMPX shares. Cantor Fitzgerald raised their target price on shares of Amprius Technologies from $10.00 to $12.00 and gave the company an "overweight" 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. B. Riley raised their target price 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. Finally, William Blair raised shares of Amprius Technologies from a "market perform" rating to an "outperform" rating in a research report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company's stock. Based on data from MarketBeat, Amprius Technologies has an average rating of "Buy" and an average price target of $11.71.

Amprius Technologies Trading Up 14.6%

The business's 50 day moving average price is $8.26 and its 200-day moving average price is $5.09. The company has a market cap of $1.51 billion, a price-to-earnings ratio of -36.54 and a beta of 2.72.

Amprius Technologies (NYSE:AMPX - Get Free Report) last posted 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 net margin of 84.77% and a negative return on equity of 55.79%. The company had revenue of $15.07 million during the quarter, compared to analysts' expectations of $12.38 million. Equities research analysts forecast that Amprius Technologies, Inc. will post -0.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other Amprius Technologies news, CEO Kang Sun sold 65,654 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $6.82, for a total transaction of $447,760.28. Following the transaction, the chief executive officer owned 1,472,306 shares in the company, valued at $10,041,126.92. This represents a 4.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Constantin Ionel Stefan sold 19,159 shares of the 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 $130,664.38. Following the transaction, the chief technology officer owned 846,975 shares in the company, valued at approximately $5,776,369.50. The trade was a 2.21% decrease in their position. 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 quarter. Corporate insiders own 12.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE grew its position in shares of Amprius Technologies by 31.1% during the 4th quarter. Bank of America Corp DE now owns 12,890 shares of the company's stock worth $36,000 after purchasing an additional 3,055 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in Amprius Technologies in the 1st quarter valued at about $40,000. Ameritas Investment Partners Inc. increased its holdings in Amprius Technologies by 2,043.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,516 shares of the company's stock valued at $40,000 after buying an additional 9,072 shares during the period. Cornerstone Partners Capital Management LLC bought a new position in Amprius Technologies in the 1st quarter valued at about $41,000. Finally, Rhumbline Advisers increased its holdings in Amprius Technologies by 61.1% in the 1st quarter. Rhumbline Advisers now owns 15,690 shares of the company's stock valued at $42,000 after buying an additional 5,951 shares during the period. Institutional investors and hedge funds own 5.04% of the company's stock.

About Amprius Technologies

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.

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