Amprius Technologies (NYSE:AMPX) Trading Down 4.2% - What's Next?

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.

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

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Cantor Fitzgerald lifted their price target on Amprius Technologies from $10.00 to $12.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. HC Wainwright reissued a "buy" rating and issued a $18.00 price objective (up previously from $10.00) on shares of Amprius Technologies in a report on Friday, August 8th. 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. William Blair raised Amprius Technologies from a "market perform" rating to an "outperform" rating in a report on Friday, July 18th. Finally, B. Riley boosted their price objective on Amprius Technologies from $10.00 to $11.00 and gave the company a "buy" rating in a report 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 company. According to MarketBeat.com, Amprius Technologies presently has an average rating of "Buy" and a consensus price target of $11.71.

Amprius Technologies Trading Up 6.0%

The company has a market cap of $900.58 million, a price-to-earnings ratio of -21.82 and a beta of 2.72. The business has a fifty day moving average of $6.34 and a two-hundred day moving average of $3.93.

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 analysts' consensus estimates of ($0.08) by $0.03. The company 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%. On average, research analysts forecast that Amprius Technologies, Inc. will post -0.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Amprius Technologies

A number of large investors have recently bought and sold shares of AMPX. JPMorgan Chase & Co. raised 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 purchasing an additional 1,008,854 shares during the period. Geode Capital Management LLC raised its holdings 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 purchasing an additional 998,649 shares during the period. Essex Investment Management Co. LLC acquired a new position in Amprius Technologies in the 1st quarter worth about $2,508,000. Renaissance Technologies LLC increased its stake in Amprius Technologies by 5,740.5% during the 4th quarter. Renaissance Technologies LLC now owns 765,100 shares of the company's stock worth $2,142,000 after buying an additional 752,000 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in Amprius Technologies during the 4th quarter worth approximately $2,009,000. Institutional investors and hedge funds 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.