Amprius Technologies (NYSE:AMPX) Trading Up 3.3% - What's Next?

Key Points

• Amprius Technologies' share price increased by 3.3% during mid-day trading, reaching a high of $7.44 and closing at $7.41.
• The company recently reported better-than-expected earnings, with an EPS of ($0.05) compared to the consensus estimate of ($0.08), alongside a revenue of $15.07 million.
• Several analysts have upgraded their ratings for Amprius Technologies, with target prices ranging from $10.00 to $18.00, suggesting strong market confidence in the stock.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report)'s share price traded up 3.3% during mid-day trading on Monday . The company traded as high as $7.44 and last traded at $7.41. 1,407,023 shares were traded during mid-day trading, a decline of 72% from the average session volume of 5,098,638 shares. The stock had previously closed at $7.17.

Analyst Upgrades and Downgrades

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

Amprius Technologies Stock Performance

The business has a 50-day simple moving average of $6.34 and a 200 day simple moving average of $3.93. The firm has a market cap of $939.98 million, a P/E ratio of -22.83 and a beta of 2.72.

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

Institutional Trading of Amprius Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its position in Amprius Technologies by 167.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,593,607 shares of the company's stock valued at $6,710,000 after acquiring an additional 998,649 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Amprius Technologies by 94.5% in the 1st quarter. Millennium Management LLC now owns 1,396,013 shares of the company's stock valued at $3,741,000 after purchasing an additional 678,442 shares during the period. Marshall Wace LLP grew its stake in Amprius Technologies by 16.1% in the second quarter. Marshall Wace LLP now owns 1,105,413 shares of the company's stock worth $4,654,000 after purchasing an additional 153,476 shares during the period. JPMorgan Chase & Co. grew its stake in Amprius Technologies by 12,063.3% in the second 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. Finally, Baird Financial Group Inc. raised its holdings in Amprius Technologies by 99.9% in the second quarter. Baird Financial Group Inc. now owns 1,000,711 shares of the company's stock worth $4,213,000 after purchasing an additional 500,212 shares in the last quarter. 5.04% of the stock is currently owned by hedge funds and other 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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