Amprius Technologies (NYSE:AMPX) Shares Up 1.8% - What's Next?

Key Points

• Amprius Technologies shares rose by 1.8% during trading, with a current price of $7.96 and 4 million shares traded, indicating a significant interest despite a 21% drop in trading volume compared to its average.
• Several research firms have given buy ratings and increased their target prices for Amprius Technologies, with Roth Capital setting a new target of $10 and HC Wainwright raising theirs to $18.
• In the last quarter, Amprius reported a revenue of $15.07 million, exceeding expectations, and analysts predict improved earnings per share for the current year despite a negative margin.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report)'s stock price was up 1.8% on Wednesday . The stock traded as high as $8.18 and last traded at $7.96. Approximately 4,061,292 shares traded hands during trading, a decline of 21% from the average daily volume of 5,155,493 shares. The stock had previously closed at $7.82.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AMPX shares. B. Riley upped their price target on shares of Amprius Technologies from $10.00 to $11.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Cantor Fitzgerald upped their target price on Amprius Technologies from $10.00 to $12.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. William Blair raised shares of Amprius Technologies from a "market perform" rating to an "outperform" rating in a research report on Friday, July 18th. Roth Capital reiterated a "buy" rating and issued a $10.00 price target (up previously from $6.00) on shares of Amprius Technologies in a research note on Tuesday, August 5th. Finally, 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. One analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to data from MarketBeat, Amprius Technologies presently has a consensus rating of "Buy" and a consensus target price of $11.71.

Amprius Technologies Trading Down 0.5%

The company's 50-day moving average price is $7.37 and its two-hundred day moving average price is $4.36. The company has a market cap of $1.01 billion, a P/E ratio of -24.55 and a beta of 2.72.

Amprius Technologies (NYSE:AMPX - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.05) earnings per share 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 for the quarter, compared to analysts' expectations of $12.38 million. Equities analysts forecast that Amprius Technologies, Inc. will post -0.45 earnings per share for the current year.

Insider Activity

In other news, CTO Constantin Ionel Stefan sold 19,159 shares of the business's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $6.82, for a total transaction of $130,664.38. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 approximately $10,041,126.92. The trade was a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,203 shares of company stock valued at $772,044. 12.90% of the stock is owned by insiders.

Institutional Trading of Amprius Technologies

Several hedge funds have recently added to or reduced their stakes in AMPX. Mercer Global Advisors Inc. ADV acquired a new stake in Amprius Technologies in the 4th quarter valued at approximately $28,000. Bank of America Corp DE boosted its stake 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 valued at $36,000 after purchasing an additional 3,055 shares during the period. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Amprius Technologies in the first quarter valued at about $40,000. Ameritas Investment Partners Inc. increased its holdings in shares of 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 purchasing an additional 9,072 shares during the period. Finally, Cornerstone Partners Capital Management LLC acquired a new position in Amprius Technologies in the 1st quarter valued at $41,000. Institutional investors and hedge funds own 5.04% of the company's stock.

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.