Amprius Technologies (NYSE:AMPX) Shares Up 13.9% - Still a Buy?

Key Points

• Amprius Technologies shares rose 13.9% to $8.565 in Friday trading, while volume was 45% below its average.
• Analyst sentiment is broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $21.42, with ratings ranging from Strong Buy to Sell.
• Insiders sold 123,311 shares worth about $1.27 million over the past three months; the reported sales were to cover tax withholding on vested equity awards.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) shares were up 13.9% on Friday. The company traded as high as $8.62 and last traded at $8.5650. 4,141,570 shares were traded during mid-day trading, a decline of 45% from the average session volume of 7,468,218 shares. The stock had previously closed at $7.52.

Wall Street Analyst Weigh In

AMPX has been the subject of a number of analyst reports. Canaccord Genuity Group started coverage on Amprius Technologies in a research note on Wednesday, October 14th. They set a "buy" rating and a $14.00 target price for the company. National Bank Financial set a $18.00 price objective on shares of Amprius Technologies in a research note on Tuesday, September 29th. William Blair restated an "outperform" rating on shares of Amprius Technologies in a report on Friday. Zacks Research upgraded Amprius Technologies from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 4th. Finally, JonesTrading initiated coverage on Amprius Technologies in a research report on Friday, July 10th. They set a "buy" rating and a $30.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $21.42.

Amprius Technologies Price Performance

The company has a 50-day moving average of $9.14 and a two-hundred day moving average of $13.26. The stock has a market capitalization of $1.22 billion, a PE ratio of -29.57 and a beta of 2.36.

Insider Activity at Amprius Technologies

In related news, CEO Thomas Stepien sold 8,000 shares of the company's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $10.03, for a total transaction of $80,240.00. Following the completion of the transaction, the chief executive officer owned 594,096 shares of the company's stock, valued at approximately $5,958,782.88. This represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kang Sun sold 62,101 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $10.34, for a total transaction of $642,124.34. Following the transaction, the director directly owned 1,218,397 shares in the company, valued at approximately $12,598,224.98. This represents a 4.85% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 123,311 shares of company stock worth $1,272,556. 5.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in AMPX. Russell Investments Group Ltd. raised its position in Amprius Technologies by 192.1% in the third quarter. Russell Investments Group Ltd. now owns 592,881 shares of the company's stock valued at $5,739,000 after purchasing an additional 389,922 shares during the period. Sei Investments Co. grew its position in Amprius Technologies by 34.1% in the first quarter. Sei Investments Co. now owns 579,161 shares of the company's stock valued at $9,765,000 after acquiring an additional 147,375 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Amprius Technologies by 700.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 431,398 shares of the company's stock valued at $6,695,000 after purchasing an additional 377,485 shares during the period. First Trust Advisors LP raised its stake in shares of Amprius Technologies by 1,105.0% during the first quarter. First Trust Advisors LP now owns 394,569 shares of the company's stock valued at $6,652,000 after purchasing an additional 361,825 shares during the period. Finally, Calamos Advisors LLC raised its stake in shares of Amprius Technologies by 206.2% during the first quarter. Calamos Advisors LLC now owns 364,506 shares of the company's stock valued at $6,146,000 after purchasing an additional 245,473 shares during the period. 5.04% of the stock is owned by hedge funds and other institutional investors.

Amprius Technologies Company Profile

Amprius Technologies, Inc develops and manufactures high-performance lithium-ion batteries using its silicon nanowire anode technology. The company's batteries are designed to provide greater energy density and faster charging than conventional lithium-ion cells, supporting applications where weight, size and performance are important.

Its product portfolio includes lightweight pouch-format battery cells and related battery technologies for electric aviation, aerospace, defense, drones, high-altitude platforms, electric vehicles and other e-mobility applications.

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