Amprius Technologies (NYSE:AMPX) Stock Price Up 3.4% – Still a Buy?

Amprius Technologies, Inc. (NYSE:AMPX)’s stock price rose 3.4% during trading on Thursday . The stock traded as high as $11.50 and last traded at $11.41. Approximately 5,512,163 shares were traded during mid-day trading, a decline of 10% from the average daily volume of 6,131,622 shares. The stock had previously closed at $11.04.

Analyst Ratings Changes

A number of equities analysts have weighed in on AMPX shares. Cantor Fitzgerald boosted their price objective on Amprius Technologies from $12.00 to $16.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Roth Capital set a $14.00 price target on Amprius Technologies and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Amprius Technologies in a report on Wednesday, October 8th. Finally, Northland Securities set a $20.00 target price on shares of Amprius Technologies in a research note on Tuesday, October 7th. Eight analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $14.29.

Amprius Technologies Price Performance

The company has a market cap of $1.49 billion, a PE ratio of -43.88 and a beta of 2.94. The company’s 50 day simple moving average is $12.02 and its two-hundred day simple moving average is $8.53.

Amprius Technologies (NYSE:AMPX) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.03. Amprius Technologies had a negative net margin of 53.16% and a negative return on equity of 38.85%. The firm had revenue of $21.43 million for the quarter, compared to analyst estimates of $16.45 million. Sell-side analysts expect that Amprius Technologies, Inc. will post -0.45 EPS for the current fiscal year.

Insider Activity

In other Amprius Technologies news, CEO Kang Sun sold 1,000,000 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $10.60, for a total transaction of $10,600,000.00. Following the sale, the chief executive officer directly owned 1,472,306 shares in the company, valued at $15,606,443.60. This represents a 40.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Constantin Ionel Stefan sold 25,024 shares of Amprius Technologies stock in a transaction on Friday, November 21st. The shares were sold at an average price of $10.08, for a total value of $252,241.92. Following the completion of the transaction, the chief technology officer owned 821,951 shares of the company’s stock, valued at approximately $8,285,266.08. This trade represents a 2.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 1,093,679 shares of company stock valued at $11,544,284. 12.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amprius Technologies

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Amprius Technologies by 37.0% during the third quarter. Vanguard Group Inc. now owns 6,512,620 shares of the company’s stock worth $68,513,000 after buying an additional 1,757,395 shares during the period. Invesco Ltd. lifted its holdings in shares of Amprius Technologies by 113.3% during the third quarter. Invesco Ltd. now owns 2,379,384 shares of the company’s stock worth $25,031,000 after purchasing an additional 1,263,846 shares during the period. BNP Paribas Financial Markets grew its position in Amprius Technologies by 1,117.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,943,905 shares of the company’s stock valued at $20,450,000 after buying an additional 1,784,291 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in Amprius Technologies in the 3rd quarter valued at $19,737,000. Finally, Two Sigma Investments LP raised its position in Amprius Technologies by 24.2% during the 3rd quarter. Two Sigma Investments LP now owns 1,753,577 shares of the company’s stock worth $18,448,000 after buying an additional 341,969 shares during the last quarter. 5.04% of the stock is owned by institutional investors and hedge funds.

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.