Amprius Technologies (NYSE:AMPX) Trading Up 12.7% on Strong Earnings

Shares of Amprius Technologies, Inc. (NYSE:AMPX) were up 12.7% on Friday after the company announced better than expected quarterly earnings. The company traded as high as $12.74 and last traded at $12.6930. Approximately 11,267,834 shares changed hands during trading, an increase of 85% from the average daily volume of 6,099,765 shares. The stock had previously closed at $11.26.

The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.03. The business had revenue of $21.43 million for the quarter, compared to analysts’ expectations of $16.45 million. Amprius Technologies had a negative return on equity of 55.79% and a negative net margin of 84.77%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. B. Riley lifted their price objective on Amprius Technologies from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Friday, August 8th. William Blair upgraded shares of Amprius Technologies from a “market perform” rating to an “outperform” rating in a research note on Friday, July 18th. Cantor Fitzgerald boosted their target price on shares of Amprius Technologies from $12.00 to $16.00 and gave the company an “overweight” rating in a report on Friday. Roth Capital set a $14.00 price target on Amprius Technologies and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Finally, HC Wainwright reiterated a “buy” rating and issued a $18.00 price target (up from $10.00) on shares of Amprius Technologies in a research report on Friday, August 8th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Amprius Technologies has an average rating of “Moderate Buy” and a consensus target price of $14.29.

Insider Activity

In related news, CFO Sandra Wallach sold 28,390 shares of the business’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $6.82, for a total transaction of $193,619.80. Following the completion of the transaction, the chief financial officer directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Constantin Ionel Stefan sold 19,159 shares of Amprius Technologies stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $6.82, for a total value of $130,664.38. Following the sale, the chief technology officer owned 846,975 shares of the company’s stock, valued at approximately $5,776,369.50. This trade represents a 2.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 113,203 shares of company stock worth $772,044 in the last three months. Corporate insiders own 12.90% of the company’s stock.

Institutional Investors Weigh In On Amprius Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of AMPX. Vanguard Group Inc. lifted its stake in shares of Amprius Technologies by 37.0% in the 3rd quarter. Vanguard Group Inc. now owns 6,512,620 shares of the company’s stock valued at $68,513,000 after acquiring an additional 1,757,395 shares during the last quarter. Geode Capital Management LLC lifted its position in Amprius Technologies by 167.9% in the second quarter. Geode Capital Management LLC now owns 1,593,607 shares of the company’s stock valued at $6,710,000 after purchasing an additional 998,649 shares during the last quarter. Millennium Management LLC lifted its position in Amprius Technologies by 94.5% in the first 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 last quarter. Marshall Wace LLP boosted its stake in shares of Amprius Technologies by 16.1% during the second quarter. Marshall Wace LLP now owns 1,105,413 shares of the company’s stock valued at $4,654,000 after purchasing an additional 153,476 shares during the period. Finally, Stephens Investment Management Group LLC bought a new position in shares of Amprius Technologies in the third quarter worth approximately $11,392,000. 5.04% of the stock is owned by hedge funds and other institutional investors.

Amprius Technologies Stock Up 12.7%

The firm’s fifty day moving average price is $11.04 and its 200-day moving average price is $6.98. The stock has a market cap of $1.59 billion, a P/E ratio of -38.46 and a beta of 2.87.

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.