Amprius Technologies (NYSE:AMPX) Trading 2.7% Higher - Here's Why

Key Points

• Amprius Technologies' shares have increased by 2.7%, trading at approximately $11.78, with a significant rise in trading volume of 213% from the average.
• Several analysts have upgraded their ratings and target prices for Amprius Technologies, with target prices now ranging from $10.00 to $18.00, reflecting a general consensus of a Buy rating.
• The company reported a loss of ($0.05) EPS for the last quarter, surpassing expectations, with revenues hitting $15.07 million against an estimate of $12.38 million.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) shares were up 2.7% on Friday . The stock traded as high as $12.10 and last traded at $11.78. Approximately 17,145,201 shares were traded during trading, an increase of 213% from the average daily volume of 5,473,827 shares. The stock had previously closed at $11.47.

Wall Street Analyst Weigh In

Several research firms have recently commented on AMPX. Roth Capital reissued a "buy" rating and issued a $10.00 price objective (up previously from $6.00) on shares of Amprius Technologies in a report on Tuesday, August 5th. Cantor Fitzgerald lifted their target price on 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 Amprius Technologies from a "market perform" rating to an "outperform" rating in a research note on Friday, July 18th. B. Riley boosted their target price on shares of Amprius Technologies from $10.00 to $11.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Finally, HC Wainwright reiterated a "buy" rating and issued a $18.00 price target (up from $10.00) on shares of Amprius Technologies in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. According to data from MarketBeat, Amprius Technologies currently has a consensus rating of "Buy" and an average target price of $11.71.

Amprius Technologies Stock Up 2.2%

The business's fifty day moving average is $7.91 and its 200-day moving average is $4.73.

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

Insider Transactions at Amprius Technologies

In other news, CFO Sandra Wallach sold 28,390 shares of the stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $6.82, for a total transaction of $193,619.80. Following the completion of the sale, the chief financial officer directly owned 1,005,275 shares in the company, valued at $6,855,975.50. This represents a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kang Sun sold 65,654 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total transaction of $447,760.28. Following the sale, the chief executive officer owned 1,472,306 shares of the company's stock, valued at approximately $10,041,126.92. This trade represents a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,203 shares of company stock worth $772,044 over the last three months. 12.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amprius Technologies

Several large investors have recently modified their holdings of the company. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Amprius Technologies during the 2nd quarter worth approximately $213,000. BNP Paribas Financial Markets grew its position in shares of Amprius Technologies by 2,677.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 159,614 shares of the company's stock worth $672,000 after buying an additional 153,867 shares during the period. Bank of America Corp DE grew its holdings in Amprius Technologies by 50.7% in the second quarter. Bank of America Corp DE now owns 126,779 shares of the company's stock worth $534,000 after purchasing an additional 42,625 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Amprius Technologies by 419.1% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,041 shares of the company's stock valued at $215,000 after purchasing an additional 41,208 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Amprius Technologies during the second quarter valued at about $144,000. 5.04% of the stock is currently owned by institutional investors and hedge funds.

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.