Amprius Technologies (NYSE:AMPX) Trading 7.7% Higher - Here's Why

Key Points

• Amprius Technologies' shares increased by 7.7% during midday trading, reaching a peak of $13.91, with trading volume up by 94% from the average.
• Multiple analysts have given Amprius strong ratings, including a price target hike from $10.00 to $18.00 from various firms, with an average target of $13.14.
• The company reported a revenue of $15.07 million in its last quarterly earnings, exceeding analysts' expectations of $12.38 million.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) shares traded up 7.7% during mid-day trading on Monday . The stock traded as high as $13.91 and last traded at $12.85. 11,237,088 shares traded hands during trading, an increase of 94% from the average session volume of 5,783,046 shares. The stock had previously closed at $11.93.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Northland Securities set a $20.00 price objective on Amprius Technologies in a research note on Tuesday, October 7th. Roth Capital restated a "buy" rating and issued a $10.00 price objective (up previously from $6.00) on shares of Amprius Technologies in a research note on Tuesday, August 5th. Cantor Fitzgerald upped their price objective on Amprius Technologies from $10.00 to $12.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. HC Wainwright restated a "buy" rating and issued a $18.00 price objective (up previously from $10.00) on shares of Amprius Technologies in a research note on Friday, August 8th. Finally, William Blair upgraded 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 given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $13.14.

Amprius Technologies Stock Performance

The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of -38.92 and a beta of 2.85. The company has a fifty day moving average of $9.07 and a two-hundred day moving average of $5.66.

Amprius Technologies (NYSE:AMPX - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $15.07 million during the quarter, compared to analysts' expectations of $12.38 million. Amprius Technologies had a negative return on equity of 55.79% and a negative net margin of 84.77%. Equities analysts forecast that Amprius Technologies, Inc. will post -0.45 EPS for the current year.

Insiders Place Their Bets

In other Amprius Technologies news, CTO Constantin Ionel Stefan sold 19,159 shares of the firm'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 $130,664.38. Following the transaction, the chief technology officer owned 846,975 shares in the company, valued at $5,776,369.50. This trade represents a 2.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kang Sun sold 65,654 shares of the firm's stock in a transaction 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 transaction, the chief executive officer owned 1,472,306 shares in the company, valued at approximately $10,041,126.92. This trade represents a 4.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,203 shares of company stock worth $772,044 in the last 90 days. Company insiders own 12.80% of the company's stock.

Hedge Funds Weigh In On Amprius Technologies

A number of hedge funds have recently added to or reduced their stakes in AMPX. Bank of America Corp DE increased its stake 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 worth $36,000 after acquiring an additional 3,055 shares during the period. Rhumbline Advisers increased its stake in shares of Amprius Technologies by 61.1% in the 1st quarter. Rhumbline Advisers now owns 15,690 shares of the company's stock valued at $42,000 after purchasing an additional 5,951 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of Amprius Technologies in the 1st quarter valued at $298,000. Kingswood Wealth Advisors LLC increased its stake in shares of Amprius Technologies by 459.2% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 59,019 shares of the company's stock valued at $154,000 after purchasing an additional 48,465 shares during the last quarter. Finally, Cornerstone Partners Capital Management LLC bought a new position in shares of Amprius Technologies in the 1st quarter valued at $41,000. 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.

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