Amprius Technologies (NYSE:AMPX) Shares Up 2.7% - What's Next?

Key Points

• Amprius Technologies' stock saw a notable increase of 2.7%, with shares trading between $13.24 and $13.52 during the session and a total volume significantly higher than the average.
• Analysts generally have a positive outlook on the stock, with eight recommending a "buy" and an average price target now set at $13.14, while one firm issued a "sell" rating.
• For Q2, Amprius reported a revenue of $15.07 million, surpassing expectations, and posted an earnings per share of (-$0.05), better than analysts' estimates.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) shot up 2.7% during trading on Tuesday . The stock traded as high as $13.52 and last traded at $13.24. 9,829,785 shares traded hands during trading, an increase of 69% from the average session volume of 5,803,996 shares. The stock had previously closed at $12.90.

Analyst Upgrades and Downgrades

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

Amprius Technologies Stock Performance

The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of -40.13 and a beta of 2.85. The stock's fifty day simple moving average is $9.17 and its two-hundred day simple moving average is $5.73.

Amprius Technologies (NYSE:AMPX - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.03. The company had revenue of $15.07 million for 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%. On average, equities analysts anticipate that Amprius Technologies, Inc. will post -0.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other Amprius Technologies news, CFO Sandra Wallach sold 28,390 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total transaction of $193,619.80. Following the completion of the sale, the chief financial officer owned 1,005,275 shares of the company's stock, valued at $6,855,975.50. This represents a 2.75% 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, CTO Constantin Ionel Stefan sold 19,159 shares of the firm's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total transaction of $130,664.38. Following the completion of the sale, 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. Insiders sold 113,203 shares of company stock valued at $772,044 over the last 90 days. 12.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AMPX. Bank of America Corp DE raised its holdings in shares of Amprius Technologies by 31.1% in the fourth quarter. Bank of America Corp DE now owns 12,890 shares of the company's stock valued at $36,000 after buying an additional 3,055 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in Amprius Technologies in the first quarter worth about $40,000. Ameritas Investment Partners Inc. increased its position in Amprius Technologies by 2,043.2% in the second quarter. Ameritas Investment Partners Inc. now owns 9,516 shares of the company's stock worth $40,000 after purchasing an additional 9,072 shares during the period. Cornerstone Partners Capital Management LLC acquired a new stake in Amprius Technologies in the first quarter worth about $41,000. Finally, Rhumbline Advisers increased its position in Amprius Technologies by 61.1% in the first quarter. Rhumbline Advisers now owns 15,690 shares of the company's stock worth $42,000 after purchasing an additional 5,951 shares during the period. 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.