Amprius Technologies (NYSE:AMPX) Shares Up 9.4% - Still a Buy?

Key Points

• Amprius shares rose 9.4% to $9.54, with about 7.38 million shares traded—roughly in line with average volume.
• Analyst sentiment is broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $21.42, though one analyst rates the stock a sell.
• Insiders sold 123,311 shares worth about $1.27 million over the past 90 days; reported sales by the director and CTO were to cover tax withholding on vested equity awards.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report)'s stock price was up 9.4% on Monday. The company traded as high as $9.68 and last traded at $9.54. 7,378,787 shares traded hands during mid-day trading, a decline of 1% from the average daily volume of 7,477,873 shares. The stock had previously closed at $8.72.

Analyst Upgrades and Downgrades

AMPX has been the subject of several research reports. HC Wainwright reaffirmed a "buy" rating and issued a $18.00 target price on shares of Amprius Technologies in a research note on Tuesday, September 29th. William Blair reissued an "outperform" rating on shares of Amprius Technologies in a research note on Friday. UBS Group restated an "outperform" rating on shares of Amprius Technologies in a report on Friday. Canaccord Genuity Group began coverage on shares of Amprius Technologies in a research note on Wednesday, October 14th. They issued a "buy" rating and a $14.00 price objective for the company. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Amprius Technologies in a research note on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $21.42.

Amprius Technologies Trading Up 9.4%

The firm has a market cap of $1.35 billion, a P/E ratio of -32.90 and a beta of 2.36. The business's fifty day simple moving average is $9.10 and its 200-day simple moving average is $13.25.

Insider Activity at Amprius Technologies

In related news, Director Kang Sun sold 62,101 shares of the business's stock in a transaction dated 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 owned 1,218,397 shares in the company, valued at $12,598,224.98. The trade was a 4.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Constantin Stefan sold 29,681 shares of the business's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $10.34, for a total value of $306,901.54. Following the transaction, the chief technology officer directly owned 771,629 shares in the company, valued at $7,978,643.86. This trade represents a 3.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 123,311 shares of company stock worth $1,272,556 in the last 90 days. Company insiders own 5.10% of the company's stock.

Hedge Funds Weigh In On Amprius Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its holdings in shares of Amprius Technologies by 192.1% during the third quarter. Russell Investments Group Ltd. now owns 592,881 shares of the company's stock valued at $5,739,000 after acquiring an additional 389,922 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Amprius Technologies by 34.1% during the first quarter. Sei Investments Co. now owns 579,161 shares of the company's stock valued at $9,765,000 after buying an additional 147,375 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position 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 acquiring an additional 377,485 shares in the last quarter. First Trust Advisors LP increased its position 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 acquiring an additional 361,825 shares in the last quarter. Finally, Calamos Advisors LLC increased its position 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 acquiring an additional 245,473 shares in the last quarter. Institutional investors own 5.04% of the company's stock.

About Amprius Technologies

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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