Amprius Technologies (NYSE:AMPX) Sets New 52-Week High - Here's Why

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $5.60 and last traded at $5.57, with a volume of 15926087 shares. The stock had previously closed at $4.94.

Analyst Upgrades and Downgrades

AMPX has been the topic of several research analyst reports. Roth Mkm reissued a "buy" rating and issued a $6.00 target price on shares of Amprius Technologies in a research report on Friday, March 21st. B. Riley lifted their price objective on shares of Amprius Technologies from $5.00 to $6.00 and gave the company a "buy" rating in a research note on Friday, March 21st. HC Wainwright restated a "buy" rating and issued a $10.00 price target on shares of Amprius Technologies in a research note on Friday, March 21st. Finally, Oppenheimer boosted their price objective on shares of Amprius Technologies from $14.00 to $15.00 and gave the company an "outperform" rating in a research report on Friday, March 21st. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $9.50.

Amprius Technologies Price Performance

The stock's fifty day moving average price is $3.30 and its 200-day moving average price is $2.95. The firm has a market cap of $788.36 million, a price-to-earnings ratio of -16.32 and a beta of 2.68.

Amprius Technologies (NYSE:AMPX - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.01. The company had revenue of $11.28 million for the quarter, compared to analyst estimates of $8.52 million. Amprius Technologies had a negative net margin of 133.34% and a negative return on equity of 67.67%. As a group, equities research analysts predict that Amprius Technologies, Inc. will post -0.45 EPS for the current fiscal year.

Insider Buying and Selling

In other Amprius Technologies news, CTO Constantin Ionel Stefan sold 20,366 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $2.43, for a total value of $49,489.38. Following the completion of the sale, the chief technology officer directly owned 866,134 shares of the company's stock, valued at $2,104,705.62. This represents a 2.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sandra Wallach sold 27,595 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $2.43, for a total transaction of $67,055.85. Following the completion of the sale, the chief financial officer directly owned 1,033,665 shares of the company's stock, valued at approximately $2,511,805.95. This trade represents a 2.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 117,747 shares of company stock valued at $286,125. Company insiders own 12.90% of the company's stock.

Institutional Investors Weigh In On Amprius Technologies

A number of hedge funds have recently made changes to their positions in AMPX. Jane Street Group LLC acquired a new stake in Amprius Technologies in the 4th quarter valued at about $724,000. Oppenheimer & Co. Inc. boosted its stake in shares of Amprius Technologies by 319.4% in the 1st quarter. Oppenheimer & Co. Inc. now owns 491,378 shares of the company's stock valued at $1,317,000 after purchasing an additional 374,228 shares during the last quarter. Two Sigma Advisers LP bought a new position in shares of Amprius Technologies in the 4th quarter valued at about $128,000. Geode Capital Management LLC boosted its stake in shares of Amprius Technologies by 6.0% in the 4th quarter. Geode Capital Management LLC now owns 580,819 shares of the company's stock valued at $1,626,000 after purchasing an additional 32,681 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Amprius Technologies by 5,740.5% in the 4th quarter. Renaissance Technologies LLC now owns 765,100 shares of the company's stock valued at $2,142,000 after purchasing an additional 752,000 shares during the last quarter. Institutional investors and hedge funds own 5.04% of the company's stock.

About Amprius Technologies

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.