Amprius Technologies (NYSE:AMPX) Trading Down 4.2% - Here's What Happened

Key Points

• Amprius Technologies' shares fell 4.2% on Wednesday, trading as low as $6.36, while the average daily volume decreased by 64% to approximately 1.86 million shares.
• Analysts have shown optimism towards AMPX, with several upgrades; Cantor Fitzgerald raised its target price to $12.00 and Roth Capital increased theirs to $10.00, contributing to a consensus rating of "Buy".
• In the latest earnings report, Amprius reported $15.07 million in revenue, exceeding estimates, and posted EPS of ($0.05), which beat predictions by $0.03.

Shares of Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) were down 4.2% during trading on Wednesday . The company traded as low as $6.36 and last traded at $6.46. Approximately 1,860,291 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 5,106,717 shares. The stock had previously closed at $6.74.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AMPX shares. Cantor Fitzgerald lifted their price target on shares of Amprius Technologies from $10.00 to $12.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. B. Riley lifted their price target on shares of Amprius Technologies from $10.00 to $11.00 and gave the company a "buy" rating in a report on Friday, August 8th. Roth Capital reiterated a "buy" rating and issued a $10.00 target price (up from $6.00) on shares of Amprius Technologies in a report on Tuesday, August 5th. HC Wainwright restated a "buy" rating and set a $18.00 price objective (up previously from $10.00) on shares of Amprius Technologies in a report on Friday, August 8th. Finally, William Blair upgraded shares of Amprius Technologies from a "market perform" rating to an "outperform" rating in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $11.71.

Amprius Technologies Trading Down 2.0%

The firm has a market cap of $826.13 million, a PE ratio of -19.98 and a beta of 2.72. The company has a 50-day simple moving average of $6.15 and a 200 day simple moving average of $3.85.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AMPX. Invesco Ltd. grew its holdings in Amprius Technologies by 56.5% in the fourth quarter. Invesco Ltd. now owns 2,484,662 shares of the company's stock valued at $6,957,000 after purchasing an additional 897,222 shares during the last quarter. Geode Capital Management LLC boosted its stake in Amprius Technologies by 167.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,593,607 shares of the company's stock worth $6,710,000 after buying an additional 998,649 shares during the last quarter. Millennium Management LLC boosted its stake in Amprius Technologies by 94.5% in the 1st quarter. Millennium Management LLC now owns 1,396,013 shares of the company's stock worth $3,741,000 after buying an additional 678,442 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Amprius Technologies by 16.1% in the 2nd quarter. Marshall Wace LLP now owns 1,105,413 shares of the company's stock valued at $4,654,000 after purchasing an additional 153,476 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Amprius Technologies by 12,063.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,017,217 shares of the company's stock worth $4,282,000 after acquiring an additional 1,008,854 shares during the period. 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.

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