Essex Investment Management Co. LLC Takes $2.51 Million Position in Amprius Technologies, Inc. (NYSE:AMPX)

Key Points

• Essex Investment Management Co. LLC has purchased 935,815 shares of Amprius Technologies, valued at approximately $2.5 million, representing about 0.79% of the company's stock as of the latest SEC filing.
• Insider sales were reported, with CTO Constantin Ionel Stefan and CEO Kang Sun selling 20,366 and 69,786 shares, respectively, both at an average price of $2.43.
• Analysts have recently increased their price targets for Amprius Technologies, with B. Riley raising it to $10.00, indicating strong confidence in the stock's performance.

Essex Investment Management Co. LLC bought a new stake in shares of Amprius Technologies, Inc. (NYSE:AMPX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 935,815 shares of the company's stock, valued at approximately $2,508,000. Essex Investment Management Co. LLC owned 0.79% of Amprius Technologies at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AMPX. Legato Capital Management LLC bought a new position in shares of Amprius Technologies in the first quarter worth approximately $744,000. Bank of New York Mellon Corp boosted its position in shares of Amprius Technologies by 189.6% in the first quarter. Bank of New York Mellon Corp now owns 31,554 shares of the company's stock worth $85,000 after purchasing an additional 20,660 shares during the period. Oppenheimer & Co. Inc. boosted its position in shares of Amprius Technologies by 319.4% in the first quarter. Oppenheimer & Co. Inc. now owns 491,378 shares of the company's stock worth $1,317,000 after purchasing an additional 374,228 shares during the period. Cornerstone Partners Capital Management LLC bought a new position in shares of Amprius Technologies in the first quarter worth approximately $41,000. Finally, Kingswood Wealth Advisors LLC boosted its position in shares of Amprius Technologies by 459.2% in the first quarter. Kingswood Wealth Advisors LLC now owns 59,019 shares of the company's stock worth $154,000 after purchasing an additional 48,465 shares during the period. 5.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Amprius Technologies Trading Down 7.4%

Shares of NYSE:AMPX traded down $0.52 during midday trading on Friday, reaching $6.42. 5,604,628 shares of the company were exchanged, compared to its average volume of 4,791,449. The business's fifty day moving average is $4.93 and its two-hundred day moving average is $3.48. Amprius Technologies, Inc. has a one year low of $0.61 and a one year high of $9.09. The stock has a market cap of $756.50 million, a PE ratio of -15.65 and a beta of 2.68.

Amprius Technologies (NYSE:AMPX - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.08) earnings per share for the quarter, topping analysts' consensus estimates of ($0.09) by $0.01. The firm had revenue of $11.28 million during the quarter, compared to analyst estimates 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 expect that Amprius Technologies, Inc. will post -0.45 EPS for the current year.

Insider Activity at Amprius Technologies

In related news, CTO Constantin Ionel Stefan sold 20,366 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $2.43, for a total transaction of $49,489.38. Following the sale, the chief technology officer owned 866,134 shares of the company's stock, valued at $2,104,705.62. This represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Sandra Wallach sold 27,595 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $2.43, for a total transaction of $67,055.85. Following the sale, the chief financial officer directly owned 1,033,665 shares in the company, valued at approximately $2,511,805.95. The trade was a 2.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 117,747 shares of company stock valued at $286,125 over the last 90 days. 12.90% of the stock is owned by corporate insiders.

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.