Amprius Technologies (NYSE:AMPX) Shares Up 6.1% – Still a Buy?

Amprius Technologies, Inc. (NYSE:AMPX) shot up 6.1% during mid-day trading on Monday . The company traded as high as $18.89 and last traded at $17.7170. 11,774,589 shares were traded during trading, an increase of 32% from the average session volume of 8,934,350 shares. The stock had previously closed at $16.70.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AMPX. Wall Street Zen downgraded shares of Amprius Technologies from a “hold” rating to a “sell” rating in a research report on Saturday. Craig Hallum boosted their target price on shares of Amprius Technologies from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Weiss Ratings restated a “sell (e+)” rating on shares of Amprius Technologies in a research report on Monday, April 20th. Needham & Company LLC restated a “buy” rating and set a $20.00 target price on shares of Amprius Technologies in a research report on Tuesday, March 10th. Finally, William Blair restated an “outperform” rating on shares of Amprius Technologies in a research report on Friday, March 6th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.25.

Amprius Technologies Stock Up 6.1%

The business’s 50-day simple moving average is $17.77 and its two-hundred day simple moving average is $13.31. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of -59.05 and a beta of 2.20.

Amprius Technologies (NYSE:AMPX) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The firm had revenue of $28.54 million during the quarter, compared to analyst estimates of $25.72 million. Amprius Technologies had a negative return on equity of 17.48% and a negative net margin of 43.98%. On average, analysts expect that Amprius Technologies, Inc. will post -0.07 earnings per share for the current year.

Insider Activity

In related news, Director Kang Sun sold 1,500,000 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $15.91, for a total transaction of $23,865,000.00. Following the completion of the transaction, the director owned 1,342,400 shares in the company, valued at $21,357,584. This represents a 52.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven Chu sold 166,632 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $17.92, for a total transaction of $2,986,045.44. Following the transaction, the director owned 127,339 shares of the company’s stock, valued at approximately $2,281,914.88. This trade represents a 56.68% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 2,539,829 shares of company stock worth $42,323,376. 5.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Amprius Technologies by 9.5% during the 4th quarter. Vanguard Group Inc. now owns 7,128,657 shares of the company’s stock worth $56,245,000 after purchasing an additional 616,037 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Amprius Technologies by 10.5% during the 4th quarter. Geode Capital Management LLC now owns 2,678,417 shares of the company’s stock worth $21,137,000 after purchasing an additional 253,529 shares during the last quarter. State Street Corp raised its position in shares of Amprius Technologies by 16.6% during the 4th quarter. State Street Corp now owns 2,553,710 shares of the company’s stock worth $20,149,000 after purchasing an additional 363,928 shares during the last quarter. Invesco Ltd. raised its position in shares of Amprius Technologies by 113.3% during the 3rd 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 last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Amprius Technologies by 23.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,194,841 shares of the company’s stock worth $17,317,000 after purchasing an additional 410,724 shares during the last quarter. Institutional investors and hedge funds own 5.04% of the company’s stock.

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.