Amprius Technologies (NYSE:AMPX) Shares Gap Up – Should You Buy?

Amprius Technologies, Inc. (NYSE:AMPX)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $11.98, but opened at $12.94. Amprius Technologies shares last traded at $12.4030, with a volume of 7,188,809 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have commented on AMPX shares. Needham & Company LLC initiated coverage on shares of Amprius Technologies in a report on Thursday. They issued a “buy” rating and a $20.00 target price for the company. Oppenheimer reiterated an “outperform” rating and set a $17.00 price objective on shares of Amprius Technologies in a research report on Tuesday, December 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Amprius Technologies in a research note on Wednesday, January 21st. Cantor Fitzgerald upped their price target on shares of Amprius Technologies from $12.00 to $16.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Finally, Roth Mkm set a $14.00 price target on Amprius Technologies and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Seven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.57.

Amprius Technologies Price Performance

The company has a market cap of $1.72 billion, a price-to-earnings ratio of -50.78 and a beta of 3.04. The business’s fifty day moving average price is $10.16 and its 200 day moving average price is $9.95.

Amprius Technologies (NYSE:AMPX) last announced its earnings results on Thursday, November 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.03. Amprius Technologies had a negative return on equity of 38.85% and a negative net margin of 53.16%.The business had revenue of $21.43 million during the quarter, compared to analyst estimates of $16.45 million. As a group, equities research analysts anticipate that Amprius Technologies, Inc. will post -0.45 EPS for the current year.

Insider Buying and Selling

In related news, CTO Constantin Ionel Stefan sold 492,827 shares of the company’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $12.04, for a total value of $5,933,637.08. Following the sale, the chief technology officer directly owned 748,696 shares in the company, valued at $9,014,299.84. This represents a 39.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Kang Sun sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $10.60, for a total transaction of $10,600,000.00. Following the transaction, the chief executive officer owned 1,472,306 shares of the company’s stock, valued at approximately $15,606,443.60. The trade was a 40.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 3,359,641 shares of company stock worth $36,572,335. 12.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Amprius Technologies

Institutional investors have recently added to or reduced their stakes in the business. Stephens Investment Management Group LLC bought a new position in shares of Amprius Technologies in the third quarter valued at $11,392,000. Bessemer Group Inc. purchased a new position in shares of Amprius Technologies in the 2nd quarter worth about $174,000. Baird Financial Group Inc. grew its holdings in Amprius Technologies by 99.9% during the second quarter. Baird Financial Group Inc. now owns 1,000,711 shares of the company’s stock valued at $4,213,000 after purchasing an additional 500,212 shares during the period. Calamos Advisors LLC purchased a new stake in Amprius Technologies during the third quarter valued at about $1,799,000. Finally, Huntleigh Advisors Inc. bought a new position in Amprius Technologies in the 2nd quarter worth approximately $614,000. 5.04% of the stock is owned by institutional investors and hedge funds.

Amprius Technologies Company Profile

Amprius Technologies, Inc (NYSE: AMPX) is a U.S.-based developer of high-energy-density lithium-ion batteries that leverage silicon anode technology to deliver performance levels beyond conventional graphite-based cells. The company’s batteries are designed to offer industry-leading gravimetric energy density, enabling longer run times and reduced weight for portable power applications. Amprius blends advanced materials science and scalable manufacturing processes to commercialize next-generation battery solutions.

At the core of Amprius’ product portfolio are cylindrical and prismatic cells that employ a proprietary silicon nanowire anode, which supports high charge/discharge rates while maintaining cycle life.