Amprius Technologies (NYSE:AMPX) Trading Up 2.4% – Here’s Why

Amprius Technologies, Inc. (NYSE:AMPX) shot up 2.4% during mid-day trading on Wednesday . The company traded as high as $11.59 and last traded at $11.0610. 7,111,033 shares changed hands during trading, a decline of 12% from the average session volume of 8,071,759 shares. The stock had previously closed at $10.80.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AMPX. Needham & Company LLC started coverage on shares of Amprius Technologies in a research note on Thursday, January 29th. They issued a “buy” rating and a $20.00 price objective on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Amprius Technologies in a report on Wednesday, January 21st. Oppenheimer restated an “outperform” rating and issued a $17.00 target price on shares of Amprius Technologies in a research note on Tuesday, December 23rd. 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 research report on Friday, November 7th. Finally, Craig Hallum initiated coverage on Amprius Technologies in a research report on Monday. They issued a “buy” rating and a $17.00 price target for the company. Eight research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Amprius Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $16.63.

Amprius Technologies Stock Performance

The company’s 50-day moving average is $10.40 and its 200-day moving average is $10.48. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -41.33 and a beta of 2.99.

Insider Buying and Selling

In related news, CTO Constantin Ionel Stefan sold 25,366 shares of Amprius Technologies stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $10.16, for a total transaction of $257,718.56. Following the transaction, the chief technology officer owned 723,330 shares of the company’s stock, valued at $7,349,032.80. This trade represents a 3.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kang Sun sold 61,251 shares of Amprius Technologies stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $10.16, for a total transaction of $622,310.16. Following the transaction, the director directly owned 1,342,400 shares in the company, valued at approximately $13,638,784. This represents a 4.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 2,392,269 shares of company stock valued at $26,384,359. 12.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amprius Technologies

Large investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of Amprius Technologies during the 3rd quarter worth approximately $42,000. Jones Financial Companies Lllp lifted its stake in shares of Amprius Technologies by 353.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 4,532 shares of the company’s stock worth $50,000 after buying an additional 3,532 shares during the last quarter. Parallel Advisors LLC bought a new stake in shares of Amprius Technologies during the 3rd quarter worth about $54,000. Leonteq Securities AG acquired a new position in Amprius Technologies in the 4th quarter valued at about $47,000. Finally, Summit Securities Group LLC bought a new stake in shares of Amprius Technologies during the fourth quarter worth approximately $54,000. Institutional investors own 5.04% of the company’s stock.

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.