Amprius Technologies (NYSE:AMPX) Shares Gap Up - Here's What Happened

Key Points

• Amprius Technologies' stock opened at $7.68, up from a previous close of $7.37, and last traded at $8.16 with significant trading volume of over 1 million shares.
• Analysts have upgraded their ratings on Amprius, with notable increases in target prices, and the stock currently holds an average rating of "Buy" and a price target of approximately **$11.71**.
• Insider selling is noted, with CFO Sandra Wallach and CEO Kang Sun selling respective shares, indicating **a decrease** in their ownership of the stock of 2.75% and 4.27%.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $7.37, but opened at $7.68. Amprius Technologies shares last traded at $8.16, with a volume of 1,091,797 shares trading hands.

Analyst Ratings Changes

AMPX has been the subject of several recent research reports. William Blair raised shares of Amprius Technologies from a "market perform" rating to an "outperform" rating in a research report on Friday, July 18th. HC Wainwright reiterated a "buy" rating and issued a $18.00 target price (up from $10.00) on shares of Amprius Technologies in a research note on Friday, August 8th. Cantor Fitzgerald raised their price target on Amprius Technologies from $10.00 to $12.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Roth Capital reaffirmed a "buy" rating and set a $10.00 target price (up from $6.00) on shares of Amprius Technologies in a report on Tuesday, August 5th. Finally, B. Riley lifted their price target on Amprius Technologies from $10.00 to $11.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $11.71.

Amprius Technologies Stock Up 11.7%

The business has a 50-day simple moving average of $7.23 and a two-hundred day simple moving average of $4.28. The stock has a market capitalization of $1.03 billion, a P/E ratio of -24.94 and a beta of 2.72.

Amprius Technologies (NYSE:AMPX - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.03. Amprius Technologies had a negative return on equity of 55.79% and a negative net margin of 84.77%.The firm had revenue of $15.07 million for the quarter, compared to analysts' expectations of $12.38 million. On average, sell-side analysts forecast that Amprius Technologies, Inc. will post -0.45 earnings per share for the current year.

Insider Buying and Selling at Amprius Technologies

In other news, CFO Sandra Wallach sold 28,390 shares of the stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $6.82, for a total transaction of $193,619.80. Following the completion of the sale, the chief financial officer owned 1,005,275 shares of the company's stock, valued at $6,855,975.50. This represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kang Sun sold 65,654 shares of Amprius Technologies stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total value of $447,760.28. Following the transaction, the chief executive officer owned 1,472,306 shares of the company's stock, valued at $10,041,126.92. This represents a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,203 shares of company stock valued at $772,044. 12.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amprius Technologies

Several institutional investors and hedge funds have recently made changes to their positions in AMPX. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Amprius Technologies in the fourth quarter worth approximately $28,000. Bank of America Corp DE boosted its holdings in shares of Amprius Technologies by 31.1% in the fourth 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 period. Edmond DE Rothschild Holding S.A. bought a new position in shares of Amprius Technologies in the first quarter worth $40,000. Ameritas Investment Partners Inc. raised its position in shares of Amprius Technologies by 2,043.2% in the second quarter. Ameritas Investment Partners Inc. now owns 9,516 shares of the company's stock worth $40,000 after buying an additional 9,072 shares in the last quarter. Finally, Cornerstone Partners Capital Management LLC purchased a new stake in Amprius Technologies during the first quarter valued at about $41,000. Institutional investors 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.

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