Amprius Technologies (NYSE:AMPX) Stock Price Up 1.8% - Here's Why

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 shot up 1.8% on Wednesday . The company traded as high as $8.18 and last traded at $7.96. 4,061,292 shares were traded during trading, a decline of 21% from the average session volume of 5,155,493 shares. The stock had previously closed at $7.82.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. B. Riley increased their price objective on shares of Amprius Technologies from $10.00 to $11.00 and gave the company a "buy" rating in a research report on Friday, August 8th. William Blair upgraded 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 set a $10.00 price objective (up previously from $6.00) on shares of Amprius Technologies in a research report on Tuesday, August 5th. HC Wainwright reiterated a "buy" rating and set a $18.00 price objective (up previously from $10.00) on shares of Amprius Technologies in a research report on Friday, August 8th. Finally, Cantor Fitzgerald increased their price objective on shares of Amprius Technologies from $10.00 to $12.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. One equities research 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 currently has a consensus rating of "Buy" and an average target price of $11.71.

Amprius Technologies Stock Down 0.5%

The firm has a market cap of $1.01 billion, a PE ratio of -24.55 and a beta of 2.72. The company's 50 day moving average price is $7.37 and its two-hundred day moving average price is $4.37.

Amprius Technologies (NYSE:AMPX - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. The business had revenue of $15.07 million for the quarter, compared to the consensus estimate of $12.38 million. Amprius Technologies had a negative net margin of 84.77% and a negative return on equity of 55.79%. On average, analysts expect that Amprius Technologies, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Kang Sun sold 65,654 shares of the firm's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $6.82, for a total value of $447,760.28. Following the transaction, the chief executive officer owned 1,472,306 shares of the company's stock, valued at $10,041,126.92. This trade represents a 4.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Constantin Ionel Stefan sold 19,159 shares of the firm's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $6.82, for a total transaction of $130,664.38. Following the completion of the transaction, the chief technology officer directly owned 846,975 shares in the company, valued at $5,776,369.50. This represents a 2.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,203 shares of company stock valued at $772,044 in the last 90 days. Company insiders own 12.90% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AMPX. Mercer Global Advisors Inc. ADV purchased a new position in Amprius Technologies during the 4th quarter valued at about $28,000. Bank of America Corp DE increased its position 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 purchasing an additional 3,055 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new position in Amprius Technologies during the 1st quarter valued at about $40,000. Ameritas Investment Partners Inc. increased its position 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 purchasing an additional 9,072 shares during the period. Finally, Cornerstone Partners Capital Management LLC purchased a new position in Amprius Technologies during the 1st quarter valued at about $41,000. 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.