Amprius Technologies (NYSE:AMPX) Stock Price Up 15.7% – Here’s What Happened

Amprius Technologies, Inc. (NYSE:AMPX) shares rose 15.7% during trading on Friday . The company traded as high as $12.28 and last traded at $12.24. Approximately 8,513,106 shares were traded during trading, a decline of 7% from the average daily volume of 9,115,983 shares. The stock had previously closed at $10.58.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Cantor Fitzgerald upped their price objective on Amprius Technologies from $12.00 to $16.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Oppenheimer restated 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 shares of Amprius Technologies in a report on Thursday, January 29th. They set a “buy” rating and a $20.00 price objective for the company. Roth Mkm set a $14.00 price objective on shares of Amprius Technologies and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Amprius Technologies in a research note on Wednesday, January 21st. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.57.

Amprius Technologies Stock Performance

The firm has a market capitalization of $1.60 billion, a P/E ratio of -47.08 and a beta of 2.99. The stock has a 50 day moving average of $10.43 and a 200-day moving average of $10.15.

Amprius Technologies (NYSE:AMPX) last posted its earnings results on Thursday, November 6th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.03. Amprius Technologies had a negative net margin of 53.16% and a negative return on equity of 38.85%. The firm had revenue of $21.43 million during the quarter, compared to the consensus estimate of $16.45 million. As a group, sell-side analysts expect that Amprius Technologies, Inc. will post -0.45 EPS for the current year.

Insider Buying and Selling

In related 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 value of $10,600,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,472,306 shares in the company, valued at approximately $15,606,443.60. The trade was a 40.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Constantin Ionel Stefan sold 492,827 shares of the stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $12.04, for a total value of $5,933,637.08. Following the sale, the chief technology officer owned 748,696 shares in the company, valued at approximately $9,014,299.84. This represents a 39.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,399,331 shares of company stock valued at $37,048,615 over the last quarter. 12.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Stephens Investment Management Group LLC purchased a new position in Amprius Technologies in the 3rd quarter worth approximately $11,392,000. Bessemer Group Inc. bought a new position in shares of Amprius Technologies in the second quarter worth approximately $174,000. Baird Financial Group Inc. increased its stake in shares of Amprius Technologies by 99.9% in the second quarter. Baird Financial Group Inc. now owns 1,000,711 shares of the company’s stock worth $4,213,000 after buying an additional 500,212 shares during the period. Calamos Advisors LLC bought a new stake in Amprius Technologies during the 3rd quarter valued at $1,799,000. Finally, Huntleigh Advisors Inc. bought a new stake in Amprius Technologies during the 2nd quarter valued at $614,000. 5.04% of the stock is currently 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.