Amprius Technologies (NYSE:AMPX) Shares Gap Up - Here's What Happened

Key Points

• Amprius Technologies (NYSE:AMPX) shares experienced a significant price increase, opening at $6.86 after closing at $6.36, and last traded at $7.17 with a volume of 1,812,189 shares.
• Equities research analysts have generally bullish opinions on the stock, with an average rating of "Buy" and a consensus price target rising to $10.17.
• The company recently reported a quarterly earnings result of ($0.08) earnings per share, beating the consensus estimate and achieving revenue of $11.28 million, surpassing analysts' estimates of $8.52 million.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $6.36, but opened at $6.86. Amprius Technologies shares last traded at $7.17, with a volume of 1,812,189 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. William Blair raised Amprius Technologies from a "market perform" rating to an "outperform" rating in a report on Friday, July 18th. B. Riley restated a "buy" rating and issued a $10.00 price target (up previously from $6.00) on shares of Amprius Technologies in a research report on Thursday, July 10th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $10.17.

Amprius Technologies Stock Performance

The stock has a market cap of $875.51 million, a P/E ratio of -18.10 and a beta of 2.72. The business has a 50 day simple moving average of $5.01 and a 200-day simple moving average of $3.50.

Amprius Technologies (NYSE:AMPX - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.01. The business had revenue of $11.28 million for the quarter, compared to analyst estimates of $8.52 million. Amprius Technologies had a negative return on equity of 67.67% and a negative net margin of 133.34%. On average, sell-side analysts predict that Amprius Technologies, Inc. will post -0.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Constantin Ionel Stefan sold 20,366 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $2.43, for a total value of $49,489.38. Following the transaction, the chief technology officer owned 866,134 shares of the company's stock, valued at $2,104,705.62. This represents a 2.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sandra Wallach sold 27,595 shares of the company's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $2.43, for a total value of $67,055.85. Following the sale, the chief financial officer owned 1,033,665 shares of the company's stock, valued at approximately $2,511,805.95. This represents a 2.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 117,747 shares of company stock valued at $286,125 over the last ninety days. 12.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Amprius Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. Board of Trustees of The Leland Stanford Junior University acquired a new position in shares of Amprius Technologies in the 4th quarter valued at $4,081,000. Essex Investment Management Co. LLC purchased a new position in shares of Amprius Technologies in the 1st quarter valued at $2,508,000. Invesco Ltd. increased its stake in Amprius Technologies by 56.5% during the 4th quarter. Invesco Ltd. now owns 2,484,662 shares of the company's stock worth $6,957,000 after buying an additional 897,222 shares during the period. Renaissance Technologies LLC increased its position in shares of Amprius Technologies by 5,740.5% in the 4th quarter. Renaissance Technologies LLC now owns 765,100 shares of the company's stock worth $2,142,000 after purchasing an additional 752,000 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in shares of Amprius Technologies in the 4th quarter valued at about $2,009,000. Institutional investors and hedge funds own 5.04% of the company's stock.

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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