Amprius (AMPX) Moves 13.4% Higher: Will This Strength Last?

Amprius Technologies (AMPX) shares rallied 13.4% in the last trading session to close at $13.58. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 51.8% gain over the past four weeks.

The stock recorded this price increase as the company benefits from its strategy to develop leading battery performance, converting that innovation into customer acquisition and scaling manufacturing via a capital-efficient contract manufacturing model.

This battery maker is expected to post quarterly loss of $0.04 per share in its upcoming report, which represents a year-over-year change of +60%. Revenues are expected to be $23.1 million, up 117.3% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Amprius, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AMPX going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Amprius is a member of the Zacks Technology Services industry. One other stock in the same industry, Zeta Global Holdings (ZETA), finished the last trading session 4.1% lower at $19.47. ZETA has returned -0.2% over the past month.

Zeta's consensus EPS estimate for the upcoming report has changed -22.2% over the past month to $0.23. Compared to the company's year-ago EPS, this represents a change of +15%. Zeta currently boasts a Zacks Rank of #3 (Hold).

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This article originally published on Zacks Investment Research (zacks.com).

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