Amprius Technologies (NYSE:AMPX) Stock Price Up 2% – Still a Buy?

Amprius Technologies, Inc. (NYSE:AMPX) shot up 2% on Tuesday . The company traded as high as $10.36 and last traded at $10.2540. 4,122,394 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 6,109,916 shares. The stock had previously closed at $10.05.

Wall Street Analyst Weigh In

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

Amprius Technologies Stock Performance

The company has a market cap of $1.34 billion, a price-to-earnings ratio of -39.44 and a beta of 2.94. The firm’s 50 day simple moving average is $11.92 and its 200-day simple moving average is $8.72.

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

Insider Buying and Selling

In other news, CTO Constantin Ionel Stefan sold 198,255 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $10.51, for a total transaction of $2,083,660.05. Following the transaction, the chief technology officer directly owned 748,696 shares in the company, valued at $7,868,794.96. The trade was a 20.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 value of $10,600,000.00. Following the completion of the sale, the chief executive officer directly owned 1,472,306 shares of the company’s stock, valued at approximately $15,606,443.60. This represents a 40.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,291,934 shares of company stock worth $13,627,944 over the last three months. Corporate insiders own 12.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AMPX. Bank of America Corp DE boosted its position in shares of Amprius Technologies by 31.1% during the 4th quarter. Bank of America Corp DE now owns 12,890 shares of the company’s stock valued at $36,000 after acquiring an additional 3,055 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in Amprius Technologies during the first quarter worth about $40,000. Ameritas Investment Partners Inc. boosted its holdings in Amprius Technologies by 2,043.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,516 shares of the company’s stock valued at $40,000 after purchasing an additional 9,072 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Amprius Technologies in the 2nd quarter valued at approximately $42,000. Finally, Quarry LP acquired a new stake in shares of Amprius Technologies during the 3rd quarter worth approximately $42,000. Hedge funds and other institutional investors own 5.04% of the company’s stock.

Amprius Technologies Company Profile

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.