Amprius Technologies (NYSE:AMPX) Shares Gap Up – Time to Buy?

Amprius Technologies, Inc. (NYSE:AMPX) shares gapped up prior to trading on Friday . The stock had previously closed at $11.66, but opened at $12.31. Amprius Technologies shares last traded at $12.59, with a volume of 1,598,795 shares traded.

Analysts Set New Price Targets

Several equities research analysts recently commented on AMPX shares. William Blair upgraded shares of Amprius Technologies from a “market perform” rating to an “outperform” rating in a research report on Friday, July 18th. Roth Capital set a $14.00 target price on Amprius Technologies and gave the company a “buy” rating in a report on Wednesday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Amprius Technologies in a research report on Friday. B. Riley upped their price target on Amprius Technologies from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Finally, Cantor Fitzgerald raised their price objective on Amprius Technologies from $10.00 to $12.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $13.71.

Amprius Technologies Trading Up 10.2%

The firm has a market capitalization of $1.61 billion, a PE ratio of -38.93 and a beta of 2.85. The firm’s fifty day moving average price is $10.06 and its 200 day moving average price is $6.34.

Amprius Technologies (NYSE:AMPX) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. Amprius Technologies had a negative return on equity of 55.79% and a negative net margin of 84.77%.The firm had revenue of $15.07 million during the quarter, compared to analysts’ expectations of $12.38 million. As a group, research analysts expect that Amprius Technologies, Inc. will post -0.45 EPS for the current year.

Insider Activity at Amprius Technologies

In related news, CTO Constantin Ionel Stefan sold 19,159 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total value of $130,664.38. Following the completion of the sale, the chief technology officer owned 846,975 shares of the company’s stock, valued at approximately $5,776,369.50. The trade was a 2.21% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Kang Sun sold 65,654 shares of the firm’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $6.82, for a total transaction of $447,760.28. Following the transaction, the chief executive officer directly owned 1,472,306 shares in the company, valued at approximately $10,041,126.92. The trade was a 4.27% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,203 shares of company stock valued at $772,044. 12.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Amprius Technologies

A number of large investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in Amprius Technologies by 167.9% during the second quarter. Geode Capital Management LLC now owns 1,593,607 shares of the company’s stock valued at $6,710,000 after buying an additional 998,649 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Amprius Technologies by 94.5% during the 1st quarter. Millennium Management LLC now owns 1,396,013 shares of the company’s stock valued at $3,741,000 after acquiring an additional 678,442 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Amprius Technologies by 16.1% in the 2nd quarter. Marshall Wace LLP now owns 1,105,413 shares of the company’s stock valued at $4,654,000 after acquiring an additional 153,476 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Amprius Technologies by 12,063.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,017,217 shares of the company’s stock valued at $4,282,000 after acquiring an additional 1,008,854 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its holdings in Amprius Technologies by 99.9% in the 2nd quarter. Baird Financial Group Inc. now owns 1,000,711 shares of the company’s stock worth $4,213,000 after purchasing an additional 500,212 shares during the last quarter. 5.04% of the stock is currently owned by institutional investors.

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.