Amprius Technologies (NYSE:AMPX) Shares Climb 9.4% – Still a Buy?

Amprius Technologies, Inc. (NYSE:AMPX)’s share price was up 9.4% during trading on Monday. The company traded as high as $9.68 and last traded at $9.54. Approximately 7,378,787 shares changed hands during mid-day trading, a decline of 1% from the average daily volume of 7,477,873 shares. The stock had previously closed at $8.72.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. HC Wainwright restated a “buy” rating and issued a $18.00 price target on shares of Amprius Technologies in a research note on Tuesday, September 29th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Amprius Technologies in a research report on Thursday, October 15th. Canaccord Genuity Group started coverage on Amprius Technologies in a research report on Wednesday, October 14th. They set a “buy” rating and a $14.00 price objective on the stock. Zacks Research upgraded Amprius Technologies from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, UBS Group reissued an “outperform” rating on shares of Amprius Technologies in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.42.

Amprius Technologies Price Performance

The stock’s 50-day moving average is $9.10 and its two-hundred day moving average is $13.25. The company has a market cap of $1.35 billion, a P/E ratio of -32.90 and a beta of 2.36.

Insider Buying and Selling at Amprius Technologies

In other news, CTO Constantin Stefan sold 29,681 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $10.34, for a total transaction of $306,901.54. Following the transaction, the chief technology officer directly owned 771,629 shares of the company’s stock, valued at $7,978,643.86. This represents a 3.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kang Sun sold 62,101 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $10.34, for a total value of $642,124.34. Following the transaction, the director directly owned 1,218,397 shares in the company, valued at $12,598,224.98. The trade was a 4.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 123,311 shares of company stock worth $1,272,556. Insiders own 5.10% of the company’s stock.

Institutional Trading of Amprius Technologies

A number of hedge funds have recently bought and sold shares of the company. TD Waterhouse Canada Inc. lifted its holdings in Amprius Technologies by 355.6% in the second quarter. TD Waterhouse Canada Inc. now owns 2,105 shares of the company’s stock valued at $29,000 after acquiring an additional 1,643 shares during the period. KBC Group NV purchased a new position in Amprius Technologies in the first quarter worth about $57,000. Allworth Financial LP boosted its position in Amprius Technologies by 1,150.6% in the second quarter. Allworth Financial LP now owns 4,527 shares of the company’s stock worth $63,000 after purchasing an additional 4,165 shares during the last quarter. Sterling Capital Management LLC grew its stake in shares of Amprius Technologies by 847.2% during the 3rd quarter. Sterling Capital Management LLC now owns 4,575 shares of the company’s stock valued at $44,000 after purchasing an additional 4,092 shares during the period. Finally, Nykredit A S bought a new stake in shares of Amprius Technologies during the 2nd quarter valued at about $79,000. Hedge funds and other institutional investors own 5.04% of the company’s stock.

About Amprius Technologies

Amprius Technologies, Inc develops and manufactures high-performance lithium-ion batteries using its silicon nanowire anode technology. The company’s batteries are designed to provide greater energy density and faster charging than conventional lithium-ion cells, supporting applications where weight, size and performance are important.

Its product portfolio includes lightweight pouch-format battery cells and related battery technologies for electric aviation, aerospace, defense, drones, high-altitude platforms, electric vehicles and other e-mobility applications.