Amprius Technologies (NYSE:AMPX) Sets New 1-Year High Following Better-Than-Expected Earnings

Amprius Technologies, Inc. (NYSE:AMPX)’s stock price hit a new 52-week high during mid-day trading on Friday following a better than expected earnings announcement. The stock traded as high as $9.66 and last traded at $8.23, with a volume of 8254801 shares. The stock had previously closed at $7.72.

The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03. The business 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 58.22% and a negative net margin of 84.77%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AMPX. Cantor Fitzgerald boosted their price objective on Amprius Technologies from $10.00 to $12.00 and gave the company an “overweight” rating in a report on Friday. B. Riley upped their price target on Amprius Technologies from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Friday. William Blair raised shares of Amprius Technologies from a “market perform” rating to an “outperform” rating in a report on Friday, July 18th. HC Wainwright boosted their target price on shares of Amprius Technologies from $10.00 to $18.00 and gave the company a “buy” rating in a research note on Friday. Finally, Roth Capital restated a “buy” rating and issued a $10.00 price target (up from $6.00) on shares of Amprius Technologies in a research report on Tuesday. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Amprius Technologies currently has a consensus rating of “Buy” and a consensus target price of $11.71.

Insiders Place Their Bets

In related news, CFO Sandra Wallach sold 27,595 shares of Amprius Technologies stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $2.43, for a total value of $67,055.85. Following the sale, the chief financial officer directly owned 1,033,665 shares in the company, valued at $2,511,805.95. This trade represents a 2.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kang Sun sold 69,786 shares of the company’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $2.43, for a total transaction of $169,579.98. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold 117,747 shares of company stock valued at $286,125 over the last three months. Company insiders own 12.90% of the company’s stock.

Institutional Investors Weigh In On Amprius Technologies

Hedge funds have recently made changes to their positions in the business. Intech Investment Management LLC acquired a new stake in Amprius Technologies in the second quarter worth about $188,000. Creative Planning bought a new stake in shares of Amprius Technologies during the 2nd quarter worth about $60,000. Foundations Investment Advisors LLC acquired a new stake in shares of Amprius Technologies in the 2nd quarter worth approximately $389,000. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Amprius Technologies in the second quarter valued at approximately $89,000. Finally, Geode Capital Management LLC increased its stake in shares of 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 acquiring an additional 998,649 shares during the period. Institutional investors own 5.04% of the company’s stock.

Amprius Technologies Price Performance

The stock has a market cap of $948.16 million, a P/E ratio of -24.36 and a beta of 2.72. The company has a fifty day moving average of $5.52 and a 200 day moving average of $3.65.

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.