Amprius Technologies (NYSE:AMPX) Shares Up 5.9% – Here’s Why

Amprius Technologies, Inc. (NYSE:AMPX) rose 5.9% during trading on Thursday . The stock traded as high as $12.14 and last traded at $11.94. Approximately 9,832,560 shares were traded during trading, an increase of 22% from the average daily volume of 8,038,749 shares. The stock had previously closed at $11.27.

Wall Street Analyst Weigh In

Several research firms have weighed in on AMPX. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Amprius Technologies in a research report on Wednesday, October 8th. Roth Mkm set a $14.00 target price on shares of Amprius Technologies and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Cantor Fitzgerald boosted their target price on shares of Amprius Technologies from $12.00 to $16.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Oppenheimer reiterated an “outperform” rating and issued a $17.00 price target on shares of Amprius Technologies in a research note on Tuesday, December 23rd. Finally, Northland Securities set a $20.00 price objective on shares of Amprius Technologies in a research report on Tuesday, October 7th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Amprius Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

Amprius Technologies Price Performance

The stock has a market capitalization of $1.56 billion, a P/E ratio of -45.92 and a beta of 3.04. The stock’s 50-day simple moving average is $10.11 and its 200 day simple moving average is $9.77.

Amprius Technologies (NYSE:AMPX) last issued its quarterly earnings data 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 company had revenue of $21.43 million for the quarter, compared to analyst estimates 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, analysts expect that Amprius Technologies, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Activity at Amprius Technologies

In other news, CTO Constantin Ionel Stefan sold 198,255 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $10.51, for a total transaction of $2,083,660.05. Following the completion of the sale, the chief technology officer owned 748,696 shares in the company, valued at $7,868,794.96. The trade was a 20.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kang Sun sold 43,185 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $11.03, for a total value of $476,330.55. Following the completion of the transaction, the director directly owned 1,403,651 shares in the company, valued at $15,482,270.53. The trade was a 2.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 2,791,934 shares of company stock valued at $29,740,138 over the last 90 days. Company insiders own 12.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its stake in 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 acquiring an additional 3,055 shares during the period. AQR Capital Management LLC grew its holdings in shares of Amprius Technologies by 86.7% during the 1st quarter. AQR Capital Management LLC now owns 77,764 shares of the company’s stock worth $208,000 after purchasing an additional 36,116 shares in the last quarter. Millennium Management LLC increased its position in shares of Amprius Technologies by 94.5% in the first quarter. Millennium Management LLC now owns 1,396,013 shares of the company’s stock worth $3,741,000 after purchasing an additional 678,442 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Amprius Technologies by 128.6% in the first quarter. Goldman Sachs Group Inc. now owns 244,646 shares of the company’s stock worth $656,000 after purchasing an additional 137,640 shares during the period. Finally, Rhumbline Advisers raised its stake 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 purchasing an additional 5,951 shares in the last quarter. 5.04% of the stock is owned by institutional investors and hedge funds.

About Amprius Technologies

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.