Amprius Technologies (NYSE:AMPX) Shares Up 1.8% – Here’s Why

Amprius Technologies, Inc. (NYSE:AMPX) shares were up 1.8% on Wednesday . The stock traded as high as $11.45 and last traded at $10.8620. Approximately 4,784,698 shares traded hands during mid-day trading, a decline of 23% from the average daily volume of 6,192,456 shares. The stock had previously closed at $10.67.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AMPX shares. B. Riley raised their price objective on Amprius Technologies from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Amprius Technologies in a research report on Wednesday, October 8th. Northland Securities set a $20.00 price target on Amprius Technologies in a report on Tuesday, October 7th. Cantor Fitzgerald upped their price objective 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. Finally, HC Wainwright reissued a “buy” rating and issued a $18.00 target price (up from $10.00) on shares of Amprius Technologies 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 stock. According to data from MarketBeat.com, Amprius Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $14.29.

Amprius Technologies Price Performance

The stock has a 50-day simple moving average of $11.94 and a 200-day simple moving average of $7.69. The stock has a market cap of $1.32 billion, a PE ratio of -38.77 and a beta of 2.87.

Amprius Technologies (NYSE:AMPX) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.03. The company had revenue of $21.43 million for the quarter, compared to the consensus estimate of $16.45 million. Amprius Technologies had a negative return on equity of 38.85% and a negative net margin of 53.16%. As a group, equities research analysts anticipate that Amprius Technologies, Inc. will post -0.45 EPS for the current year.

Insiders Place Their Bets

In other Amprius Technologies news, CEO Kang Sun sold 1,000,000 shares of Amprius Technologies stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 1,472,306 shares of the company’s stock, valued at $15,606,443.60. The trade was a 40.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 12.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amprius Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE increased its holdings in 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 in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Amprius Technologies by 189.6% in the first quarter. Bank of New York Mellon Corp now owns 31,554 shares of the company’s stock worth $85,000 after buying an additional 20,660 shares during the period. Legato Capital Management LLC acquired a new stake in shares of Amprius Technologies in the first quarter valued at about $744,000. Essex Investment Management Co. LLC purchased a new stake in shares of Amprius Technologies during the 1st quarter valued at about $2,508,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Amprius Technologies by 30.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 257,943 shares of the company’s stock valued at $691,000 after buying an additional 59,501 shares during the period. Institutional investors and hedge funds 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.