Amprius Technologies (NYSE:AMPX) Trading 13.6% Higher – Time to Buy?

Amprius Technologies, Inc. (NYSE:AMPX) rose 13.6% during mid-day trading on Thursday . The company traded as high as $13.78 and last traded at $13.61. Approximately 18,143,835 shares changed hands during mid-day trading, an increase of 120% from the average daily volume of 8,245,461 shares. The stock had previously closed at $11.98.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Needham & Company LLC initiated coverage on shares of Amprius Technologies in a report on Thursday. They set a “buy” rating and a $20.00 price objective for the company. Northland Securities set a $20.00 price objective on Amprius Technologies in a research note on Tuesday, October 7th. Roth Mkm set a $14.00 price objective on shares of Amprius Technologies and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Oppenheimer reaffirmed an “outperform” rating and set a $17.00 target price on shares of Amprius Technologies in a research note on Tuesday, December 23rd. Finally, Cantor Fitzgerald raised their price target on shares of Amprius Technologies from $12.00 to $16.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Amprius Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.57.

Amprius Technologies Price Performance

The company has a market capitalization of $1.78 billion, a PE ratio of -52.35 and a beta of 3.04. The company’s fifty day moving average is $10.16 and its 200-day moving average 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, beating the consensus estimate of ($0.06) by $0.03. The business had revenue of $21.43 million for the quarter, compared to analysts’ expectations of $16.45 million. Amprius Technologies had a negative return on equity of 38.85% and a negative net margin of 53.16%. Equities research analysts forecast that Amprius Technologies, Inc. will post -0.45 EPS for the current fiscal year.

Insider Activity

In related news, CTO Constantin Ionel Stefan sold 492,827 shares of the business’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $12.04, for a total transaction of $5,933,637.08. Following the completion of the transaction, the chief technology officer owned 748,696 shares in the company, valued at $9,014,299.84. The trade was a 39.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction of $10,600,000.00. Following the sale, the chief executive officer directly owned 1,472,306 shares of the company’s stock, valued at $15,606,443.60. The trade was a 40.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,359,641 shares of company stock worth $36,572,335 in the last quarter. 12.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Amprius Technologies

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Amprius Technologies by 9.5% in 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 in the last quarter. Invesco Ltd. boosted its holdings in Amprius Technologies by 113.3% in the third quarter. Invesco Ltd. now owns 2,379,384 shares of the company’s stock worth $25,031,000 after acquiring an additional 1,263,846 shares in the last quarter. UBS Group AG grew its stake in shares of Amprius Technologies by 35.5% during the fourth quarter. UBS Group AG now owns 2,098,946 shares of the company’s stock worth $16,561,000 after acquiring an additional 549,892 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Amprius Technologies by 1,117.9% during the third quarter. BNP Paribas Financial Markets now owns 1,943,905 shares of the company’s stock valued at $20,450,000 after acquiring an additional 1,784,291 shares in the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in shares of Amprius Technologies during the third quarter valued at about $19,737,000. 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.