Amprius Technologies (NYSE:AMPX) Stock Price Crosses Above 50-Day Moving Average – Here’s Why

Amprius Technologies, Inc. (NYSE:AMPX) shares crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $9.10 and traded as high as $9.68. Amprius Technologies shares last traded at $9.54, with a volume of 7,418,239 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AMPX shares. Zacks Research upgraded shares of Amprius Technologies from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. National Bank Financial set a $18.00 price objective on Amprius Technologies in a report on Tuesday, September 29th. Canaccord Genuity Group assumed coverage on Amprius Technologies in a research report on Wednesday, October 14th. They set a “buy” rating and a $14.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 target price on shares of Amprius Technologies in a research report on Tuesday, September 29th. Finally, UBS Group reaffirmed an “outperform” rating on shares of Amprius Technologies in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.42.

Amprius Technologies Stock Up 9.4%

The stock has a market cap of $1.35 billion, a P/E ratio of -32.90 and a beta of 2.36. The business has a 50-day simple moving average of $9.10 and a 200-day simple moving average of $13.24.

Insider Transactions at Amprius Technologies

In related news, Director Kang Sun sold 62,101 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $10.34, for a total transaction of $642,124.34. Following the completion of the sale, the director directly owned 1,218,397 shares of the company’s stock, valued at approximately $12,598,224.98. This represents a 4.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Constantin Stefan sold 29,681 shares of the firm’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $10.34, for a total transaction of $306,901.54. Following the completion of the transaction, the chief technology officer owned 771,629 shares in the company, valued at $7,978,643.86. The trade was a 3.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 123,311 shares of company stock worth $1,272,556. 5.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Amprius Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. TD Waterhouse Canada Inc. increased its stake in shares of Amprius Technologies by 355.6% in the second quarter. TD Waterhouse Canada Inc. now owns 2,105 shares of the company’s stock worth $29,000 after purchasing an additional 1,643 shares during the period. KBC Group NV bought a new stake in Amprius Technologies during the 1st quarter valued at approximately $57,000. Allworth Financial LP boosted its stake in Amprius Technologies by 1,150.6% during the 2nd quarter. Allworth Financial LP now owns 4,527 shares of the company’s stock valued at $63,000 after purchasing an additional 4,165 shares during the period. Sterling Capital Management LLC boosted its stake in Amprius Technologies by 847.2% during the 3rd quarter. Sterling Capital Management LLC now owns 4,575 shares of the company’s stock valued at $44,000 after purchasing an additional 4,092 shares during the period. Finally, Nykredit A S acquired a new stake in Amprius Technologies in the 2nd quarter valued at approximately $79,000. 5.04% of the stock is owned by institutional investors and hedge funds.

About Amprius Technologies

Amprius Technologies, Inc develops and manufactures lithium-ion batteries designed to provide high energy density and power. Its battery technology uses silicon-based anodes, an alternative to the graphite anodes commonly used in conventional lithium-ion cells.

The company’s products are designed for applications where low weight and high performance are important, including electric aviation, drones, aerospace, defense and other mobility markets. Amprius offers silicon-anode cells for customers developing these systems.

Founded in 2008 and based in Fremont, California, Amprius has focused on advancing its battery technology from development toward commercial production.