Amprius Technologies (NYSE:AMPX) Stock Price Up 6.4% – Here’s What Happened

Amprius Technologies, Inc. (NYSE:AMPX)’s share price shot up 6.4% during mid-day trading on Monday . The stock traded as high as $14.49 and last traded at $13.55. Approximately 12,911,109 shares changed hands during trading, an increase of 111% from the average session volume of 6,131,720 shares. The stock had previously closed at $12.73.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Amprius Technologies in a research report on Wednesday, October 8th. Roth Capital set a $14.00 price objective on Amprius Technologies and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Cantor Fitzgerald boosted their price objective on Amprius Technologies from $12.00 to $16.00 and gave the company an “overweight” rating in a report on Friday. Northland Securities set a $20.00 target price on Amprius Technologies in a report on Tuesday, October 7th. Finally, B. Riley lifted 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, August 8th. Eight investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $14.29.

Amprius Technologies Stock Up 6.4%

The business’s 50-day simple moving average is $11.15 and its two-hundred day simple moving average is $7.13. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -52.12 and a beta of 2.87.

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

Insider Activity

In related news, CTO Constantin Ionel Stefan sold 19,159 shares of Amprius Technologies stock in a transaction on 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kang Sun sold 65,654 shares of the company’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total transaction of $447,760.28. Following the transaction, the chief executive officer owned 1,472,306 shares of the company’s stock, valued at $10,041,126.92. This represents a 4.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 113,203 shares of company stock worth $772,044 over the last three months. 12.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Amprius Technologies

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Amprius Technologies by 37.0% during the 3rd quarter. Vanguard Group Inc. now owns 6,512,620 shares of the company’s stock worth $68,513,000 after purchasing an additional 1,757,395 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Amprius Technologies by 167.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,593,607 shares of the company’s stock worth $6,710,000 after buying an additional 998,649 shares during the last quarter. Millennium Management LLC increased its stake in Amprius Technologies by 94.5% during the 1st quarter. Millennium Management LLC now owns 1,396,013 shares of the company’s stock worth $3,741,000 after buying an additional 678,442 shares in the last quarter. Marshall Wace LLP raised its holdings 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 acquiring an additional 153,476 shares during the last quarter. Finally, Stephens Investment Management Group LLC purchased a new position in shares of Amprius Technologies in the third quarter valued at approximately $11,392,000. Institutional investors and hedge funds own 5.04% of the company’s stock.

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.