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

Shares of Amprius Technologies, Inc. (NYSE:AMPX) gapped up prior to trading on Thursday . The stock had previously closed at $11.98, but opened at $12.94. Amprius Technologies shares last traded at $12.4030, with a volume of 7,188,809 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Amprius Technologies in a report on Wednesday, January 21st. Northland Securities set a $20.00 price objective on Amprius Technologies in a report on Tuesday, October 7th. Oppenheimer reissued an “outperform” rating and set a $17.00 price target on shares of Amprius Technologies in a research report on Tuesday, December 23rd. Needham & Company LLC began coverage on Amprius Technologies in a research note on Thursday. They set a “buy” rating and a $20.00 target price on the stock. Finally, Roth Mkm set a $14.00 price objective on shares of Amprius Technologies and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Seven analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Amprius Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $16.57.

Amprius Technologies Trading Up 10.1%

The firm has a 50 day simple moving average of $10.16 and a 200 day simple moving average of $9.95. The firm has a market capitalization of $1.72 billion, a PE ratio of -50.78 and a beta of 3.04.

Amprius Technologies (NYSE:AMPX) last issued its earnings results on Thursday, November 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.03. The company had revenue of $21.43 million for 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%. Research analysts forecast that Amprius Technologies, Inc. will post -0.45 earnings per share for the current year.

Insiders Place Their Bets

In other Amprius Technologies news, CTO Constantin Ionel Stefan sold 492,827 shares of the business’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $12.04, for a total transaction of $5,933,637.08. Following the completion of the sale, the chief technology officer directly owned 748,696 shares in the company, valued at $9,014,299.84. The trade was a 39.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kang Sun sold 43,185 shares of the stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $11.03, for a total transaction of $476,330.55. Following the completion of the transaction, the director owned 1,403,651 shares in the company, valued at $15,482,270.53. This trade represents a 2.98% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 3,359,641 shares of company stock valued at $36,572,335. 12.80% of the stock is owned by company insiders.

Institutional Trading of Amprius Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMPX. Bank of America Corp DE boosted its stake in shares of 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 last quarter. Ameritas Investment Partners Inc. increased its stake in shares of Amprius Technologies by 2,043.2% in the 2nd 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. Quarry LP purchased a new stake in shares of Amprius Technologies in the 3rd quarter worth $42,000. Rhumbline Advisers raised its holdings in Amprius Technologies by 61.1% in the 1st quarter. Rhumbline Advisers now owns 15,690 shares of the company’s stock worth $42,000 after purchasing an additional 5,951 shares during the period. Finally, Legal & General Group Plc lifted its position in Amprius Technologies by 1,385.4% during the second quarter. Legal & General Group Plc now owns 10,383 shares of the company’s stock valued at $44,000 after purchasing an additional 9,684 shares in the last quarter. 5.04% of the stock is owned by hedge funds and other institutional investors.

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.