Amprius Technologies (NYSE:AMPX) Stock Price Up 7.8% - What's Next?

Key Points

• Amprius Technologies' stock rose 7.8% on Wednesday, trading between $13.25 and $13.04, with an increased trading volume of approximately 7.15 million shares.
• Analysts have set new price targets for AMPX, with HC Wainwright raising its target to $18.00 and Roth Capital setting its target at $14.00, indicating an overall consensus rating of "Moderate Buy."
• The company reported a revenue of $15.07 million for the last quarter, surpassing analyst estimates, and is forecasted to have an EPS of -0.45 for the current fiscal year.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) rose 7.8% on Wednesday . The company traded as high as $13.25 and last traded at $13.04. Approximately 7,152,919 shares changed hands during trading, an increase of 18% from the average daily volume of 6,038,156 shares. The stock had previously closed at $12.10.

Analysts Set New Price Targets

AMPX has been the topic of a number of recent research reports. HC Wainwright reissued a "buy" rating and set a $18.00 price objective (up previously from $10.00) on shares of Amprius Technologies in a research note on Friday, August 8th. Roth Capital set a $14.00 price objective on Amprius Technologies and gave the stock a "buy" rating in a research note on Wednesday, October 22nd. B. Riley boosted their price objective on Amprius Technologies from $10.00 to $11.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Northland Securities set a $20.00 price objective on Amprius Technologies in a research note on Tuesday, October 7th. Finally, William Blair raised Amprius Technologies from a "market perform" rating to an "outperform" rating in a research note on Friday, July 18th. Eight research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $13.71.

Amprius Technologies Price Performance

The company has a market capitalization of $1.63 billion, a P/E ratio of -39.52 and a beta of 2.87. The company has a fifty day moving average price of $10.84 and a 200 day moving average price of $6.91.

Amprius Technologies (NYSE:AMPX - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.03. The company had revenue of $15.07 million during the quarter, compared to analyst estimates 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 research analysts predict that Amprius Technologies, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Kang Sun sold 65,654 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total value 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. This represents a 4.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Constantin Ionel Stefan sold 19,159 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total value of $130,664.38. Following the completion of the transaction, the chief technology officer directly owned 846,975 shares of the company's stock, valued at $5,776,369.50. This trade represents a 2.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 113,203 shares of company stock valued at $772,044. 12.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amprius Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMPX. Bank of America Corp DE grew its holdings in Amprius Technologies by 31.1% in the 4th 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 in the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in Amprius Technologies in the 1st quarter worth approximately $40,000. Ameritas Investment Partners Inc. grew its holdings in Amprius Technologies by 2,043.2% in the 2nd 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 in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Amprius Technologies in the second quarter worth approximately $42,000. Finally, Rhumbline Advisers lifted 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.

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