Amprius Technologies (NYSE:AMPX) Stock Price Up 13.3% - What's Next?

Key Points

• Amprius Technologies' stock price increased by 13.3% to $7.21, with a total of approximately 3.5 million shares traded, despite a decline in trading volume compared to average trading days.
• Brokerages have a consensus rating of "Buy" for Amprius Technologies, with target prices raised to an average of $10.17 following recent upgrades from B. Riley and William Blair.
• The company reported better-than-expected earnings of -$0.08 per share and revenues of $11.28 million, surpassing analyst expectations for both metrics.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report)'s share price traded up 13.3% during mid-day trading on Monday . The company traded as high as $7.34 and last traded at $7.21. 3,515,043 shares changed hands during trading, a decline of 27% from the average session volume of 4,792,010 shares. The stock had previously closed at $6.36.

Analyst Ratings Changes

A number of research firms recently weighed in on AMPX. 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. William Blair raised Amprius Technologies from a "market perform" rating to an "outperform" rating in a report on Friday, July 18th. Finally, B. Riley reiterated a "buy" rating and set a $10.00 price objective (up from $6.00) on shares of Amprius Technologies in a research report on Thursday, July 10th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Amprius Technologies currently has an average rating of "Buy" and an average price target of $10.14.

Amprius Technologies Stock Performance

The stock has a market capitalization of $892.02 million, a PE ratio of -18.46 and a beta of 2.72. The firm's 50 day moving average is $5.21 and its two-hundred day moving average is $3.56.

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

Insider Transactions at Amprius Technologies

In other Amprius Technologies news, CEO Kang Sun sold 69,786 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer directly owned 1,812,235 shares in the company, valued at $4,403,731.05. This trade represents a 3.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Constantin Ionel Stefan sold 20,366 shares of the business'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 transaction 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 represents a 2.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 117,747 shares of company stock valued at $286,125. 12.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amprius Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV bought a new position in shares of Amprius Technologies during the fourth quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Amprius Technologies during the second quarter valued at $42,000. Bank of America Corp DE lifted its stake in shares of 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 buying an additional 3,055 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Amprius Technologies in the 1st quarter valued at approximately $40,000. Finally, Cornerstone Partners Capital Management LLC bought a new stake in shares of Amprius Technologies during the first quarter worth $41,000. 5.04% of the stock is owned by institutional investors.

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.