Amprius Technologies (NYSE:AMPX) Stock Price Up 8.1% - What's Next?

Key Points

• Amprius Technologies' shares have surged by 8.1% during trading, reaching a high of $8.48 before closing at $8.15, with trading volume significantly above the average.
• Research analysts have raised their target prices for Amprius Technologies to $10.00, with a consensus rating of "Buy" from eight analysts.
• The company reported $11.28 million in revenue for the last quarter, exceeding expectations, and achieved an earnings per share of ($0.08), beating estimates.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) shares traded up 8.1% during trading on Tuesday . The stock traded as high as $8.48 and last traded at $8.15. 5,453,668 shares were traded during mid-day trading, an increase of 13% from the average session volume of 4,835,983 shares. The stock had previously closed at $7.54.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on AMPX shares. Roth Capital restated a "buy" rating and set a $10.00 price objective (up from $6.00) on shares of Amprius Technologies in a report on Tuesday. B. Riley upped their price objective on shares of Amprius Technologies from $10.00 to $11.00 and gave the stock a "buy" rating in a report on Friday. William Blair upgraded shares of Amprius Technologies from a "market perform" rating to an "outperform" rating in a research note on Friday, July 18th. HC Wainwright increased their price target on shares of Amprius Technologies from $10.00 to $18.00 and gave the stock a "buy" rating in a report on Friday. Finally, Cantor Fitzgerald lifted their target price on Amprius Technologies from $10.00 to $12.00 and gave the company an "overweight" rating in a research report on Friday. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Amprius Technologies presently has an average rating of "Buy" and a consensus target price of $11.71.

Amprius Technologies Trading Up 4.7%

The company's 50 day moving average price is $5.41 and its two-hundred day moving average price is $3.62. The firm has a market cap of $953.20 million, a PE ratio of -19.79 and a beta of 2.72.

Amprius Technologies (NYSE:AMPX - Get Free Report) last released its quarterly earnings data 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. Amprius Technologies had a negative net margin of 133.34% and a negative return on equity of 67.67%. The firm had revenue of $15.07 million for the quarter, compared to analyst estimates of $12.38 million. Equities research analysts expect that Amprius Technologies, Inc. will post -0.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Constantin Ionel Stefan sold 20,366 shares of Amprius Technologies stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $2.43, for a total value of $49,489.38. Following the transaction, the chief technology officer owned 866,134 shares of the company's stock, valued at approximately $2,104,705.62. This trade represents a 2.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kang Sun sold 69,786 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $2.43, for a total value of $169,579.98. Following the transaction, the chief executive officer owned 1,812,235 shares of the company's stock, valued at approximately $4,403,731.05. This trade represents a 3.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 117,747 shares of company stock valued at $286,125 in the last ninety days. Insiders own 12.90% of the company's stock.

Hedge Funds Weigh In On Amprius Technologies

Large investors have recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC grew its stake in Amprius Technologies by 17.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 19,134 shares of the company's stock valued at $81,000 after purchasing an additional 2,873 shares in the last quarter. Bank of America Corp DE boosted its stake in Amprius Technologies by 31.1% during the fourth quarter. Bank of America Corp DE now owns 12,890 shares of the company's stock worth $36,000 after acquiring an additional 3,055 shares in the last quarter. Rhumbline Advisers raised its stake in Amprius Technologies by 61.1% during the 1st quarter. Rhumbline Advisers now owns 15,690 shares of the company's stock worth $42,000 after buying an additional 5,951 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Amprius Technologies in the fourth quarter worth approximately $28,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Amprius Technologies in the second quarter valued at $42,000. Institutional investors and hedge funds own 5.04% of the company's stock.

Amprius Technologies Company Profile

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.