Amprius Technologies (NYSE:AMPX) Stock Price Up 4.3% - Here's What Happened

Key Points

• Amprius Technologies' stock price increased by 4.3% on Monday, trading between $7.42 and $7.94, alongside a volume decrease of 9% from its average session.
• Several analysts have upgraded their ratings, with HC Wainwright setting a price target of $18.00, indicating significant growth potential for the company.
• The company reported a quarterly earnings beat with $15.07 million in revenue, surpassing estimates and positioning itself for further improvement in profitability, despite negative return metrics.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report)'s stock price was up 4.3% during trading on Monday . The company traded as high as $7.94 and last traded at $7.42. Approximately 4,656,129 shares were traded during trading, a decline of 9% from the average daily volume of 5,111,662 shares. The stock had previously closed at $7.11.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AMPX shares. Roth Capital restated a "buy" rating and set a $10.00 price objective (up from $6.00) on shares of Amprius Technologies in a report on Tuesday, August 5th. HC Wainwright restated a "buy" rating and set a $18.00 price objective (up from $10.00) on shares of Amprius Technologies in a report on Friday, August 8th. Cantor Fitzgerald raised their price objective 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. William Blair upgraded shares of Amprius Technologies from a "market perform" rating to an "outperform" rating in a report on Friday, July 18th. Finally, B. Riley raised their price objective 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. One analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $11.71.

Amprius Technologies Trading Down 0.5%

The stock's 50-day moving average is $7.30 and its 200-day moving average is $4.32. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -24.55 and a beta of 2.72.

Amprius Technologies (NYSE:AMPX - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $12.38 million. On average, equities research analysts anticipate that Amprius Technologies, Inc. will post -0.45 EPS for the current fiscal year.

Insider Activity at Amprius Technologies

In other Amprius Technologies news, CEO Kang Sun sold 65,654 shares of the company's 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 transaction, the chief executive officer owned 1,472,306 shares in the company, valued at approximately $10,041,126.92. This represents a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Sandra Wallach sold 28,390 shares of the company'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 $193,619.80. Following the transaction, the chief financial officer owned 1,005,275 shares in the company, valued at approximately $6,855,975.50. The trade was a 2.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,203 shares of company stock worth $772,044 in the last quarter. Company insiders own 12.90% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV acquired a new position in Amprius Technologies during the fourth quarter worth $28,000. Bank of America Corp DE raised its holdings in Amprius Technologies by 31.1% during the fourth quarter. Bank of America Corp DE now owns 12,890 shares of the company's stock worth $36,000 after buying an additional 3,055 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in Amprius Technologies during the first quarter worth $40,000. Ameritas Investment Partners Inc. raised its holdings in Amprius Technologies by 2,043.2% during the second quarter. Ameritas Investment Partners Inc. now owns 9,516 shares of the company's stock worth $40,000 after buying an additional 9,072 shares during the last quarter. Finally, Cornerstone Partners Capital Management LLC purchased a new stake in shares of Amprius Technologies in the first quarter valued at about $41,000. Institutional investors and hedge funds 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.