Amprius Technologies (NYSE:AMPX) Shares Up 3.3% - Here's What Happened

Key Points

• Amprius Technologies shares rose 3.3% to $12.44, with trading volume increasing by 104% over the average daily volume.
• Multiple analysts have upgraded their price targets for Amprius Technologies, with the average price target currently set at $11.71 and a consensus rating of "Buy."
• The company exceeded earnings expectations by reporting a loss of ($0.05) EPS against a consensus estimate of ($0.08) and generated revenue of $15.07 million for the quarter.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) shares were up 3.3% on Thursday . The stock traded as high as $13.21 and last traded at $12.44. Approximately 11,478,152 shares traded hands during mid-day trading, an increase of 104% from the average daily volume of 5,630,850 shares. The stock had previously closed at $12.04.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Cantor Fitzgerald raised their price target on shares of Amprius Technologies from $10.00 to $12.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Roth Capital reaffirmed a "buy" rating and issued a $10.00 price target (up previously from $6.00) on shares of Amprius Technologies in a report on Tuesday, August 5th. William Blair raised shares of Amprius Technologies from a "market perform" rating to an "outperform" rating in a report on Friday, July 18th. B. Riley raised their price target on shares of Amprius Technologies from $10.00 to $11.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $18.00 price target (up previously from $10.00) on shares of Amprius Technologies in a report on Friday, August 8th. Eight research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $11.71.

Amprius Technologies Price Performance

The company's fifty day moving average is $8.34 and its 200-day moving average is $5.14. The stock has a market cap of $1.56 billion, a PE ratio of -37.68 and a beta of 2.85.

Amprius Technologies (NYSE:AMPX - Get Free Report) last issued its earnings results 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 net margin of 84.77% and a negative return on equity of 55.79%. The firm had revenue of $15.07 million during the quarter, compared to analysts' expectations of $12.38 million. Analysts expect that Amprius Technologies, Inc. will post -0.45 EPS for the current year.

Insider Buying and Selling at Amprius Technologies

In other Amprius Technologies news, CFO Sandra Wallach sold 28,390 shares of Amprius Technologies stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $6.82, for a total value of $193,619.80. Following the completion of the transaction, the chief financial officer owned 1,005,275 shares of the company's stock, valued at approximately $6,855,975.50. The trade was a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 on Thursday, August 21st. The shares were 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 directly owned 1,472,306 shares of the company's stock, valued at $10,041,126.92. The trade was a 4.27% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,203 shares of company stock valued at $772,044. Corporate insiders own 12.90% of the company's stock.

Institutional Trading of Amprius Technologies

Large investors have recently bought and sold shares of the business. Bank of America Corp DE grew its stake in Amprius Technologies by 31.1% during the 4th quarter. Bank of America Corp DE now owns 12,890 shares of the company's stock valued at $36,000 after acquiring an additional 3,055 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in Amprius Technologies during the 1st quarter valued at about $40,000. Ameritas Investment Partners Inc. grew its stake in Amprius Technologies by 2,043.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,516 shares of the company's stock valued at $40,000 after acquiring an additional 9,072 shares in the last quarter. Cornerstone Partners Capital Management LLC purchased a new stake in Amprius Technologies during the 1st quarter valued at about $41,000. Finally, Rhumbline Advisers grew its stake in Amprius Technologies by 61.1% during the 1st quarter. Rhumbline Advisers now owns 15,690 shares of the company's stock valued at $42,000 after acquiring an additional 5,951 shares in the last quarter. Hedge funds and other institutional investors 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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