Amprius Technologies (NYSE:AMPX) Trading Up 10.7% - What's Next?

Key Points

• Amprius Technologies' stock increased by 10.7% on Wednesday, trading as high as $16.03, with a significant volume spike of 236% over its average daily volume.
• Wall Street analysts are optimistic about Amprius, with multiple upgrades and a consensus rating of "Moderate Buy" and a target price of $13.14, despite a recent quarterly earnings report showing a negative return on equity.
• Insider trading was notable, with both the CFO and CEO selling shares at an average price of $6.82, resulting in a decrease in their ownership stakes in the company.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) was up 10.7% on Wednesday . The company traded as high as $16.03 and last traded at $14.67. Approximately 19,768,792 shares traded hands during trading, an increase of 236% from the average daily volume of 5,875,058 shares. The stock had previously closed at $13.25.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AMPX shares. William Blair upgraded Amprius Technologies from a "market perform" rating to an "outperform" rating in a research note on Friday, July 18th. Roth Capital reissued a "buy" rating and set a $10.00 price target (up previously from $6.00) on shares of Amprius Technologies in a research report on Tuesday, August 5th. B. Riley increased their price target on Amprius Technologies from $10.00 to $11.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Cantor Fitzgerald increased 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. Finally, HC Wainwright reissued a "buy" rating and set a $18.00 price target (up previously from $10.00) on shares of Amprius Technologies in a research report on Friday, August 8th. Eight research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Amprius Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $13.14.

Amprius Technologies Trading Up 10.7%

The company has a market capitalization of $1.83 billion, a P/E ratio of -44.44 and a beta of 2.85. The stock has a 50 day moving average price of $9.27 and a 200 day moving average price of $5.78.

Amprius Technologies (NYSE:AMPX - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.05) EPS for the quarter, beating 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 during the quarter, compared to analysts' expectations of $12.38 million. On average, research analysts predict that Amprius Technologies, Inc. will post -0.45 EPS for the current year.

Insider Buying and Selling

In other news, CFO Sandra Wallach sold 28,390 shares of Amprius Technologies stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $6.82, for a total value of $193,619.80. Following the completion of the transaction, the chief financial officer directly owned 1,005,275 shares of the company's stock, valued at approximately $6,855,975.50. This trade represents a 2.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kang Sun sold 65,654 shares of Amprius Technologies stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $6.82, for a total value of $447,760.28. Following the completion of the transaction, the chief executive officer directly 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 valued at $772,044 in the last three months. Insiders own 12.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Bank of America Corp DE grew its stake in shares of Amprius Technologies by 31.1% in the 4th quarter. Bank of America Corp DE now owns 12,890 shares of the company's stock valued at $36,000 after buying an additional 3,055 shares during the period. Rhumbline Advisers grew 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 buying an additional 5,951 shares during the period. Kingswood Wealth Advisors LLC grew 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 buying an additional 48,465 shares during the period. Cornerstone Partners Capital Management LLC acquired a new stake in shares of Amprius Technologies in the 1st quarter valued at about $41,000. Finally, Oppenheimer & Co. Inc. grew its stake in shares of Amprius Technologies by 319.4% in the 1st quarter. Oppenheimer & Co. Inc. now owns 491,378 shares of the company's stock valued at $1,317,000 after buying an additional 374,228 shares during the period. 5.04% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.