Amprius Technologies (NYSE:AMPX) Stock Price Up 5.4% - What's Next?

Key Points

• Amprius Technologies' stock rose 5.4%, closing at $7.16 after trading between $6.79 and $7.23, though overall volume was down 67% compared to average trading levels.
• Analysts have increased their price targets for the stock, with ratings ranging from a "buy" at $10.00 to an "outperform" at $18.00, indicating positive sentiment towards the company.
• The company reported a quarterly EPS of ($0.05), beating analyst expectations, and had revenue of $15.07 million, exceeding forecasts by $2.69 million.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report)'s share price shot up 5.4% on Friday . The company traded as high as $7.23 and last traded at $7.16. 1,701,672 shares traded hands during trading, a decline of 67% from the average session volume of 5,093,822 shares. The stock had previously closed at $6.79.

Wall Street Analyst Weigh In

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

Amprius Technologies Stock Performance

The stock's fifty day moving average is $6.41 and its 200 day moving average is $3.96. The stock has a market cap of $960.61 million, a P/E ratio of -23.27 and a beta of 2.72.

Amprius Technologies (NYSE:AMPX - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.03. The business had revenue of $15.07 million during the quarter, compared to the consensus estimate of $12.38 million. Amprius Technologies had a negative net margin of 84.77% and a negative return on equity of 55.79%. Equities research analysts predict that Amprius Technologies, Inc. will post -0.45 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Kang Sun sold 65,654 shares of the firm's stock in a transaction that occurred 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Sandra Wallach sold 28,390 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total transaction of $193,619.80. Following the transaction, the chief financial officer directly owned 1,005,275 shares in the company, valued at approximately $6,855,975.50. This trade represents a 2.75% 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 over the last 90 days. Insiders own 12.80% of the company's stock.

Hedge Funds Weigh In On Amprius Technologies

A number of institutional investors have recently modified their holdings of AMPX. JPMorgan Chase & Co. increased its holdings in Amprius Technologies by 12,063.3% during the second quarter. JPMorgan Chase & Co. now owns 1,017,217 shares of the company's stock valued at $4,282,000 after buying an additional 1,008,854 shares during the period. Geode Capital Management LLC increased its holdings in Amprius Technologies by 167.9% during the second quarter. Geode Capital Management LLC now owns 1,593,607 shares of the company's stock valued at $6,710,000 after buying an additional 998,649 shares during the period. Essex Investment Management Co. LLC purchased a new position in Amprius Technologies during the first quarter valued at approximately $2,508,000. Millennium Management LLC purchased a new position in Amprius Technologies during the fourth quarter valued at approximately $2,009,000. Finally, Baird Financial Group Inc. purchased a new position in Amprius Technologies during the first quarter valued at approximately $1,341,000. 5.04% of the stock is 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.