Amprius Technologies (NYSE:AMPX) Hits New 1-Year High - Here's Why

Key Points

• Amprius Technologies reached a new 52-week high with its share price hitting $9.76, marking a significant increase from its previous close of $9.14.
• Several analysts have upgraded their price targets for AMPX, with estimates ranging from $10.00 to as high as $18.00, reflecting strong market confidence in the company's potential growth.
• Amprius Technologies reported quarterly earnings with a $0.05 EPS, outperforming analysts' expectations, driven by revenue of $15.07 million that exceeded projections of $12.38 million.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $9.75 and last traded at $9.76, with a volume of 4281666 shares trading hands. The stock had previously closed at $9.14.

Analyst Ratings Changes

A number of equities research analysts have commented on AMPX shares. William Blair upgraded Amprius Technologies from a "market perform" rating to an "outperform" rating in a report on Friday, July 18th. HC Wainwright reiterated a "buy" rating and set a $18.00 target price (up previously from $10.00) on shares of Amprius Technologies in a report on Friday, August 8th. Roth Capital reiterated a "buy" rating and set a $10.00 target price (up previously from $6.00) on shares of Amprius Technologies in a report on Tuesday, August 5th. Cantor Fitzgerald increased their target price on Amprius Technologies from $10.00 to $12.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Finally, B. Riley increased their price target on Amprius Technologies from $10.00 to $11.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $11.71.

Amprius Technologies Stock Up 2.7%

The firm has a 50 day moving average price of $7.80 and a two-hundred day moving average price of $4.64. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of -35.70 and a beta of 2.72.

Amprius Technologies (NYSE:AMPX - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. The company had revenue of $15.07 million during the quarter, compared to the consensus estimate of $12.38 million. Amprius Technologies had a negative return on equity of 55.79% and a negative net margin of 84.77%. Analysts predict that Amprius Technologies, Inc. will post -0.45 earnings per share for the current year.

Insider Buying and Selling

In related news, CTO Constantin Ionel Stefan sold 19,159 shares of Amprius Technologies stock in a transaction dated 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 transaction, the chief technology officer directly owned 846,975 shares in the company, valued at approximately $5,776,369.50. This trade represents a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kang Sun sold 65,654 shares of Amprius Technologies stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $6.82, for a total value of $447,760.28. Following the completion of the transaction, the chief executive officer owned 1,472,306 shares of the company's stock, valued at $10,041,126.92. This trade represents a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,203 shares of company stock worth $772,044. Corporate insiders own 12.90% of the company's stock.

Hedge Funds Weigh In On Amprius Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of AMPX. Northern Trust Corp boosted its stake in Amprius Technologies by 33.6% in the fourth quarter. Northern Trust Corp now owns 208,420 shares of the company's stock valued at $584,000 after acquiring an additional 52,370 shares during the period. Jane Street Group LLC acquired a new position in Amprius Technologies in the fourth quarter valued at approximately $724,000. Bank of America Corp DE boosted its position in shares of Amprius Technologies by 31.1% during the fourth quarter. Bank of America Corp DE now owns 12,890 shares of the company's stock worth $36,000 after buying an additional 3,055 shares during the period. Millennium Management LLC acquired a new position in shares of Amprius Technologies during the fourth quarter worth approximately $2,009,000. Finally, Two Sigma Investments LP boosted its position in shares of Amprius Technologies by 323.1% during the fourth quarter. Two Sigma Investments LP now owns 443,311 shares of the company's stock worth $1,241,000 after buying an additional 338,524 shares during the period. 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.