Amprius Technologies (NYSE:AMPX) Trading 2% Higher – Here’s Why

Shares of Amprius Technologies, Inc. (NYSE:AMPX) rose 2% during mid-day trading on Tuesday . The stock traded as high as $10.36 and last traded at $10.2540. Approximately 4,122,394 shares changed hands during trading, a decline of 33% from the average daily volume of 6,109,916 shares. The stock had previously closed at $10.05.

Analysts Set New Price Targets

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

Amprius Technologies Stock Up 2.0%

The business’s fifty day moving average is $11.92 and its two-hundred day moving average is $8.72. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -39.44 and a beta of 2.94.

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

Insider Buying and Selling at Amprius Technologies

In other Amprius Technologies news, CEO Kang Sun sold 1,000,000 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $10.60, for a total transaction of $10,600,000.00. Following the sale, the chief executive officer owned 1,472,306 shares in the company, valued at $15,606,443.60. This represents a 40.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Constantin Ionel Stefan sold 198,255 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $10.51, for a total value of $2,083,660.05. Following the completion of the sale, the chief technology officer directly owned 748,696 shares in the company, valued at $7,868,794.96. This represents a 20.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,291,934 shares of company stock valued at $13,627,944 over the last three months. 12.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its position 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 valued at $36,000 after purchasing an additional 3,055 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Amprius Technologies during the 1st quarter worth $40,000. Ameritas Investment Partners Inc. grew its stake in shares of 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 purchasing an additional 9,072 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Amprius Technologies in the second quarter valued at $42,000. Finally, Quarry LP purchased a new position in Amprius Technologies in the third quarter valued at $42,000. Hedge funds and other institutional investors own 5.04% of the company’s stock.

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.