Amprius Technologies (NYSE:AMPX) Stock Price Up 11.7% – Here’s Why

Shares of Amprius Technologies, Inc. (NYSE:AMPX) rose 11.7% during mid-day trading on Tuesday . The stock traded as high as $14.86 and last traded at $14.6820. Approximately 15,295,737 shares were traded during trading, an increase of 74% from the average daily volume of 8,797,709 shares. The stock had previously closed at $13.15.

Analyst Upgrades and Downgrades

AMPX has been the subject of several research reports. Needham & Company LLC assumed coverage on Amprius Technologies in a report on Thursday, January 29th. They issued a “buy” rating and a $20.00 target price for the company. Northland Securities set a $20.00 price objective on Amprius Technologies in a research note on Tuesday, October 7th. Cantor Fitzgerald increased their price objective on Amprius Technologies from $12.00 to $16.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Oppenheimer reaffirmed an “outperform” rating and issued a $17.00 target price on shares of Amprius Technologies in a report on Tuesday, December 23rd. Finally, Roth Mkm set a $14.00 price target on shares of Amprius Technologies and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Amprius Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.57.

Amprius Technologies Stock Performance

The business has a 50-day simple moving average of $10.40 and a two-hundred day simple moving average of $10.13. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of -56.47 and a beta of 3.04.

Amprius Technologies (NYSE:AMPX) last released its earnings results on Thursday, November 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.03. Amprius Technologies had a negative return on equity of 38.85% and a negative net margin of 53.16%.The business had revenue of $21.43 million for the quarter, compared to analyst estimates of $16.45 million. Research analysts predict that Amprius Technologies, Inc. will post -0.45 EPS for the current fiscal year.

Insider Buying and Selling at Amprius Technologies

In other Amprius Technologies news, CTO Constantin Ionel Stefan sold 492,827 shares of the company’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $12.04, for a total transaction of $5,933,637.08. Following the completion of the transaction, the chief technology officer owned 748,696 shares in the company, valued at approximately $9,014,299.84. This represents a 39.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kang Sun sold 1,000,000 shares of Amprius Technologies stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $10.60, for a total transaction of $10,600,000.00. Following the completion of the sale, the chief executive officer directly owned 1,472,306 shares in the company, valued at approximately $15,606,443.60. The trade was a 40.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 3,399,331 shares of company stock worth $37,048,615 over the last three months. 12.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amprius Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its stake in shares of Amprius Technologies by 31.1% during 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 in the last quarter. Ameritas Investment Partners Inc. grew its holdings in Amprius Technologies by 2,043.2% during 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 during the period. Quarry LP purchased a new position in Amprius Technologies in the third quarter worth $42,000. Rhumbline Advisers lifted its holdings in Amprius Technologies by 61.1% in the first quarter. Rhumbline Advisers now owns 15,690 shares of the company’s stock valued at $42,000 after acquiring an additional 5,951 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Amprius Technologies by 1,385.4% in the second quarter. Legal & General Group Plc now owns 10,383 shares of the company’s stock valued at $44,000 after acquiring an additional 9,684 shares during the period. Institutional investors and hedge funds own 5.04% of the company’s stock.

Amprius Technologies Company Profile

Amprius Technologies, Inc (NYSE: AMPX) is a U.S.-based developer of high-energy-density lithium-ion batteries that leverage silicon anode technology to deliver performance levels beyond conventional graphite-based cells. The company’s batteries are designed to offer industry-leading gravimetric energy density, enabling longer run times and reduced weight for portable power applications. Amprius blends advanced materials science and scalable manufacturing processes to commercialize next-generation battery solutions.

At the core of Amprius’ product portfolio are cylindrical and prismatic cells that employ a proprietary silicon nanowire anode, which supports high charge/discharge rates while maintaining cycle life.