Amprius Technologies (NYSE:AMPX) Hits New 52-Week High - Here's What Happened

Key Points

• Amprius Technologies' stock reached a new 52-week high of $14.61 during mid-day trading on Wednesday, reflecting a significant increase from its previous close of $13.25.
• Analysts have set numerous price targets for Amprius Technologies, with Northland Securities proposing a target of $20.00, while eight analysts rated the stock as a Buy, indicating strong market confidence.
• The company recently reported quarterly earnings, showing an EPS of ($0.05), exceeding analysts' expectations and generating revenue of $15.07 million for the quarter.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $14.14 and last traded at $14.61, with a volume of 272272 shares changing hands. The stock had previously closed at $13.25.

Wall Street Analyst Weigh In

AMPX has been the subject of a number of recent research reports. Northland Securities set a $20.00 price objective on shares of Amprius Technologies in a research report on Tuesday, October 7th. Cantor Fitzgerald boosted their price objective on shares of Amprius Technologies from $10.00 to $12.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. William Blair upgraded shares of Amprius Technologies from a "market perform" rating to an "outperform" rating in a research report on Friday, July 18th. HC Wainwright restated a "buy" rating and issued a $18.00 target price (up previously from $10.00) on shares of Amprius Technologies in a research report on Friday, August 8th. Finally, Roth Capital restated a "buy" rating and issued a $10.00 target price (up previously from $6.00) on shares of Amprius Technologies in a research report on Tuesday, August 5th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Amprius Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $13.14.

Amprius Technologies Stock Performance

The business's 50 day moving average is $9.27 and its 200 day moving average is $5.78. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of -47.73 and a beta of 2.85.

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

Insider Activity

In other news, CFO Sandra Wallach sold 28,390 shares of the business's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $6.82, for a total transaction of $193,619.80. Following the transaction, the chief financial officer owned 1,005,275 shares in the company, valued at approximately $6,855,975.50. The trade was a 2.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Constantin Ionel Stefan sold 19,159 shares of the business's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $6.82, for a total transaction of $130,664.38. Following the transaction, the chief technology officer owned 846,975 shares in the company, valued at approximately $5,776,369.50. The trade was a 2.21% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,203 shares of company stock worth $772,044. 12.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amprius Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMPX. Geode Capital Management LLC boosted its stake in Amprius Technologies by 167.9% in the second quarter. Geode Capital Management LLC now owns 1,593,607 shares of the company's stock valued at $6,710,000 after acquiring an additional 998,649 shares during the last quarter. Millennium Management LLC lifted its position in Amprius Technologies by 94.5% in 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 in the last quarter. Marshall Wace LLP increased its stake in 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 buying an additional 153,476 shares during the last quarter. JPMorgan Chase & Co. increased its stake in 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 buying an additional 1,008,854 shares during the last quarter. Finally, Baird Financial Group Inc. increased its stake in shares of Amprius Technologies by 99.9% during 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 and hedge funds.

About Amprius Technologies

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.

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