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

Key Points

• Amprius Technologies' stock price gapped up before trading, opening at $15.76 after closing at $14.61, but last traded at $14.67 with a volume of 3,855,040 shares.
• HC Wainwright upgraded its rating on AMPX to a "buy" with a target price of $18.00, while overall, analysts have a consensus rating of "Moderate Buy" with an average price target of $13.14.
• Amprius reported a revenue of $15.07 million for its last quarter, exceeding analysts' expectations, and showed a slight improvement in EPS at ($0.05), beating the consensus estimate of ($0.08).

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $14.61, but opened at $15.76. Amprius Technologies shares last traded at $14.67, with a volume of 3,855,040 shares.

Wall Street Analyst Weigh In

AMPX has been the subject of several recent analyst reports. HC Wainwright restated a "buy" rating and set a $18.00 target price (up from $10.00) on shares of Amprius Technologies in a research report on Friday, August 8th. Weiss Ratings restated a "sell (e+)" rating on shares of Amprius Technologies in a research note on Wednesday, October 8th. Roth Capital reaffirmed a "buy" rating and set a $10.00 price objective (up previously from $6.00) on shares of Amprius Technologies in a research report on Tuesday, August 5th. Cantor Fitzgerald raised their price objective on Amprius Technologies from $10.00 to $12.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Finally, William Blair raised Amprius Technologies from a "market perform" rating to an "outperform" rating in a report on Friday, July 18th. Eight research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Amprius Technologies has a consensus rating of "Moderate Buy" and an average price target of $13.14.

Amprius Technologies Stock Down 8.3%

The firm has a 50 day moving average of $9.41 and a 200-day moving average of $5.84. The company has a market cap of $1.68 billion, a P/E ratio of -40.58 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) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.03. Amprius Technologies had a negative return on equity of 55.79% and a negative net margin of 84.77%.The company had revenue of $15.07 million for the quarter, compared to analysts' expectations of $12.38 million. On average, research analysts predict that Amprius Technologies, Inc. will post -0.45 EPS for the current fiscal year.

Insider Activity

In related news, CTO Constantin Ionel Stefan sold 19,159 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The shares were 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 owned 846,975 shares of the company's stock, valued at approximately $5,776,369.50. This trade represents a 2.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kang Sun sold 65,654 shares of Amprius Technologies stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total transaction of $447,760.28. Following the completion of the transaction, the chief executive officer owned 1,472,306 shares in the company, valued at $10,041,126.92. This trade represents a 4.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,203 shares of company stock valued at $772,044 in the last ninety days. Company insiders own 12.90% of the company's stock.

Institutional Trading of Amprius Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of 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 purchasing an additional 1,008,854 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Amprius Technologies by 167.9% in the second quarter. Geode Capital Management LLC now owns 1,593,607 shares of the company's stock worth $6,710,000 after purchasing an additional 998,649 shares during the last quarter. Essex Investment Management Co. LLC bought a new position in Amprius Technologies during the first quarter valued at approximately $2,508,000. Millennium Management LLC lifted its stake in Amprius Technologies by 94.5% in the first quarter. Millennium Management LLC now owns 1,396,013 shares of the company's stock worth $3,741,000 after acquiring an additional 678,442 shares during the period. Finally, Baird Financial Group Inc. bought a new position in shares of Amprius Technologies during the first quarter valued at $1,341,000. 5.04% of the stock is owned by institutional investors.

Amprius Technologies Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.