Amprius Technologies (NYSE:AMPX) Trading 1.3% Higher - What's Next?

Key Points

• Amprius Technologies' shares rose by 1.3% to close at $8.31, despite a 30% decline in trading volume compared to its average.
• Wall Street analysts are optimistic, with a consensus rating of "Buy" and a price target averaging $10.17, boosted by recent upgrades from brokers like B. Riley and William Blair.
• The company reported a negative EPS of ($0.08) in its latest quarter but exceeded revenue expectations with $11.28 million.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) shot up 1.3% on Monday . The stock traded as high as $8.65 and last traded at $8.31. 3,263,815 shares changed hands during trading, a decline of 30% from the average session volume of 4,688,511 shares. The stock had previously closed at $8.20.

Analyst Ratings Changes

A number of research analysts have recently 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. B. Riley restated a "buy" rating and set a $10.00 price target (up previously from $6.00) on shares of Amprius Technologies in a research note on Thursday, July 10th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $10.17.

Amprius Technologies Stock Performance

The business has a 50-day simple moving average of $4.84 and a two-hundred day simple moving average of $3.45. The company has a market capitalization of $816.67 million, a price-to-earnings ratio of -16.89 and a beta of 2.68.

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

Insiders Place Their Bets

In other news, CTO Constantin Ionel Stefan sold 20,366 shares of the firm's 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 completion of the sale, the chief technology officer directly owned 866,134 shares of the company's stock, valued at $2,104,705.62. This trade represents a 2.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kang Sun sold 69,786 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $2.43, for a total value of $169,579.98. Following the completion of the sale, the chief executive officer directly owned 1,812,235 shares of the company's stock, valued at $4,403,731.05. This represents a 3.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 117,747 shares of company stock valued at $286,125. 12.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amprius Technologies

Hedge funds have recently bought and sold shares of the company. Oppenheimer & Co. Inc. increased its stake in Amprius Technologies by 319.4% in the 1st quarter. Oppenheimer & Co. Inc. now owns 491,378 shares of the company's stock valued at $1,317,000 after purchasing an additional 374,228 shares in the last quarter. Jane Street Group LLC purchased a new position in Amprius Technologies in the 4th quarter valued at approximately $724,000. Two Sigma Advisers LP purchased a new position in Amprius Technologies during the fourth quarter worth $128,000. Geode Capital Management LLC increased its position in Amprius Technologies by 6.0% during the fourth quarter. Geode Capital Management LLC now owns 580,819 shares of the company's stock worth $1,626,000 after buying an additional 32,681 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Amprius Technologies by 5,740.5% during the fourth quarter. Renaissance Technologies LLC now owns 765,100 shares of the company's stock worth $2,142,000 after buying an additional 752,000 shares in the last quarter. 5.04% of the stock is owned by hedge funds and other 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.