Shares of Amprius Technologies, Inc. (NYSE:AMPX) experienced a notable increase of 3.4% on Thursday, reaching a peak of $11.50 before closing at $11.41. During mid-day trading, approximately 5,512,163 shares changed hands, marking a 10% decline from the average session volume of 6,131,622 shares. The stock had previously closed at $11.04.
Analysts are optimistic about the company’s future, with several recent evaluations highlighting potential growth. Northland Securities set a price target of $20.00 on October 7, while Roth Capital assigned a target price of $14.00 and a “buy” rating on October 22. Additionally, Cantor Fitzgerald raised their target from $12.00 to $16.00, giving Amprius an “overweight” rating on November 7. A total of eight analysts recommend buying the stock, while one suggests selling, leading to a consensus rating of “Moderate Buy” with an average price target of $14.29, according to data from MarketBeat.com.
Quarterly Performance Exceeds Expectations
On November 6, Amprius Technologies released its quarterly earnings, reporting earnings per share (EPS) of ($0.03), which surpassed analysts’ projections of ($0.06) by $0.03. The company’s revenue for the quarter amounted to $21.43 million, significantly exceeding the forecast of $16.45 million. Despite these positive results, Amprius reported a negative return on equity of 38.85% and a negative net margin of 53.16%. Analysts predict the company will post an EPS of ($0.45) for the current financial year.
Insider trading activity has also been notable. CEO Kang Sun sold 68,655 shares on November 21 at an average price of $10.08, totaling $692,042.40. After this sale, he retained 1,403,651 shares valued at approximately $14.15 million. This transaction represented a 4.66% reduction in his holdings. Similarly, Chief Technology Officer Constantin Ionel Stefan sold 25,024 shares for $252,241.92, reducing his stake by 2.95%. Over the past ninety days, insiders have sold a total of 1,093,679 shares for about $11.54 million, with insiders owning 12.90% of the company’s stock.
Institutional Interest Grows
In recent months, several institutional investors have adjusted their positions in Amprius Technologies. Quarry LP acquired a new stake in the third quarter valued at $42,000. Jones Financial Companies Lllp increased its holdings by 353.2%, bringing its total to 4,532 shares worth $50,000. Other significant moves include Parallel Advisors LLC purchasing shares valued at approximately $54,000 and Geneos Wealth Management Inc. acquiring a stake worth about $74,000. Notably, Ameritas Investment Partners Inc. raised its position by 2,043.2%, ultimately owning 9,516 shares valued at $40,000. Currently, approximately 5.04% of Amprius Technologies’ stock is held by hedge funds and institutional investors.
Amprius Technologies focuses on producing ultra-high energy density lithium-ion batteries, primarily for mobility applications in sectors like aviation and unmanned aerial systems. As the company continues to expand in this growing market, investor interest remains strong, reflecting a positive outlook for its future performance.
