Amprius Technologies (NYSE:AMPX) Stock Price Up 12.7% Following Earnings Beat

Amprius Technologies, Inc. (NYSE:AMPX) traded up 12.7% during mid-day trading on Friday following a stronger than expected earnings report. The stock traded as high as $12.74 and last traded at $12.6930. 11,267,834 shares changed hands during mid-day trading, an increase of 85% from the average session 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 analysts’ consensus estimates of ($0.06) by $0.03. The company had revenue of $21.43 million during the quarter, compared to analyst estimates of $16.45 million. Amprius Technologies had a negative net margin of 84.77% and a negative return on equity of 55.79%.

Analyst Upgrades and Downgrades

AMPX has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Amprius Technologies in a report on Wednesday, October 8th. HC Wainwright restated a “buy” rating and set a $18.00 target price (up previously from $10.00) on shares of Amprius Technologies in a report on Friday, August 8th. Cantor Fitzgerald raised their price target on Amprius Technologies from $12.00 to $16.00 and gave the stock an “overweight” rating in a research note on Friday. William Blair raised shares of Amprius Technologies from a “market perform” rating to an “outperform” rating in a research report on Friday, July 18th. Finally, Northland Securities set a $20.00 price objective on shares of Amprius Technologies in a report on Tuesday, October 7th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.29.

Insider Buying and Selling

In other Amprius Technologies news, CTO Constantin Ionel Stefan sold 19,159 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total value of $130,664.38. Following the completion of the transaction, the chief technology officer owned 846,975 shares in the company, valued at approximately $5,776,369.50. This represents a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kang Sun sold 65,654 shares of the firm’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $6.82, for a total value of $447,760.28. Following the transaction, the chief executive officer directly owned 1,472,306 shares of the company’s stock, valued at $10,041,126.92. This represents a 4.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 113,203 shares of company stock valued at $772,044 over the last ninety days. Company 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 business. Bank of America Corp DE grew its stake in shares of Amprius Technologies by 31.1% in the 4th quarter. Bank of America Corp DE now owns 12,890 shares of the company’s stock worth $36,000 after buying an additional 3,055 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in Amprius Technologies in the first quarter worth $40,000. Ameritas Investment Partners Inc. boosted its holdings in Amprius Technologies by 2,043.2% in the second quarter. Ameritas Investment Partners Inc. now owns 9,516 shares of the company’s stock worth $40,000 after acquiring an additional 9,072 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Amprius Technologies during the second quarter valued at $42,000. Finally, Rhumbline Advisers raised its position in shares of Amprius Technologies by 61.1% in the 1st quarter. Rhumbline Advisers now owns 15,690 shares of the company’s stock worth $42,000 after purchasing an additional 5,951 shares during the last quarter. 5.04% of the stock is currently owned by hedge funds and other institutional investors.

Amprius Technologies Trading Up 12.7%

The company has a market cap of $1.59 billion, a P/E ratio of -38.46 and a beta of 2.87. The stock’s 50 day moving average is $11.04 and its 200-day moving average is $6.98.

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.