Amprius Technologies (NYSE:AMPX) Trading Up 14.1% - What's Next?

Key Points

• Amprius Technologies' share price surged by 14.1% on Monday, reaching a high of $13.54 and trading significantly above its previous close of $11.84.
• Analysts have a positive outlook for Amprius Technologies, with eight rating the stock as a "Buy," and target prices raised by firms such as B. Riley to $11.00 and HC Wainwright to $18.00.
• The company reported earnings of ($0.05) EPS, surpassing expectations, with revenues of $15.07 million, exceeding the estimated $12.38 million.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report)'s share price shot up 14.1% on Monday . The stock traded as high as $13.54 and last traded at $13.51. 9,503,047 shares traded hands during mid-day trading, an increase of 59% from the average session volume of 5,961,820 shares. The stock had previously closed at $11.84.

Wall Street Analyst Weigh In

AMPX has been the topic of several recent analyst reports. B. Riley boosted their target price on shares of Amprius Technologies from $10.00 to $11.00 and gave the company a "buy" rating in a research note on Friday, August 8th. HC Wainwright reaffirmed a "buy" rating and issued a $18.00 target price (up previously from $10.00) on shares of Amprius Technologies in a research report on Friday, August 8th. Cantor Fitzgerald raised their target price on Amprius Technologies from $10.00 to $12.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Amprius Technologies in a research report on Wednesday, October 8th. Finally, William Blair raised Amprius Technologies from a "market perform" rating to an "outperform" rating in a research report on Friday, July 18th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Amprius Technologies has an average rating of "Moderate Buy" and an average target price of $13.14.

Amprius Technologies Stock Performance

The business's 50 day simple moving average is $9.70 and its 200-day simple moving average is $6.10. The company has a market cap of $1.69 billion, a price-to-earnings ratio of -40.93 and a beta of 2.85.

Amprius Technologies (NYSE:AMPX - Get Free Report) last issued 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 company had revenue of $15.07 million during the quarter, compared to analyst estimates of $12.38 million. Amprius Technologies had a negative net margin of 84.77% and a negative return on equity of 55.79%. Research analysts expect that Amprius Technologies, Inc. will post -0.45 earnings per share for the current year.

Insider Buying and Selling

In other Amprius Technologies news, CEO Kang Sun sold 65,654 shares of the business's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $6.82, for a total transaction of $447,760.28. Following the completion of the transaction, the chief executive officer owned 1,472,306 shares of the company's stock, valued at $10,041,126.92. The trade was a 4.27% 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, 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 owned 1,005,275 shares in the company, valued at $6,855,975.50. The trade was a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,203 shares of company stock worth $772,044 in the last quarter. 12.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amprius Technologies

A number of institutional investors have recently made changes to their positions in AMPX. Bank of America Corp DE increased its holdings in shares of 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 purchasing an additional 3,055 shares during the period. Rhumbline Advisers raised its position in shares of Amprius Technologies by 61.1% during the first 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 last quarter. Kingswood Wealth Advisors LLC raised its position in shares of Amprius Technologies by 459.2% during the first 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 last quarter. Cornerstone Partners Capital Management LLC acquired a new position in shares of Amprius Technologies during the first quarter valued at about $41,000. Finally, Oppenheimer & Co. Inc. raised its position in shares of Amprius Technologies by 319.4% during the first 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 last quarter. 5.04% of the stock is currently 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.

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