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

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) shares 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 changing hands.

Wall Street Analysts Forecast Growth

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

Amprius Technologies Stock Performance

The stock has a 50 day moving average price of $7.37 and a two-hundred day moving average price of $4.38. The company has a market capitalization of $1.05 billion, a PE ratio of -25.45 and a beta of 2.72.

Amprius Technologies (NYSE:AMPX - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share for the quarter, topping 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 company had revenue of $15.07 million during the quarter, compared to the consensus estimate of $12.38 million. Sell-side analysts predict that Amprius Technologies, Inc. will post -0.45 earnings per share for the current year.

Insider Transactions at Amprius Technologies

In other news, CEO Kang Sun sold 65,654 shares of the firm's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $6.82, for a total transaction of $447,760.28. Following the completion of the sale, the chief executive officer directly owned 1,472,306 shares of the company's stock, valued at $10,041,126.92. This trade represents a 4.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Constantin Ionel Stefan sold 19,159 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $6.82, for a total value of $130,664.38. Following the transaction, the chief technology officer directly owned 846,975 shares in the company, valued at approximately $5,776,369.50. This represents a 2.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,203 shares of company stock valued at $772,044 in the last three months. Corporate insiders own 12.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AMPX. Baird Financial Group Inc. acquired a new stake in Amprius Technologies in the 1st quarter valued at approximately $1,341,000. Oppenheimer & Co. Inc. grew its holdings in 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 buying an additional 374,228 shares during the last quarter. Jane Street Group LLC acquired a new stake in Amprius Technologies in the 4th quarter valued at approximately $724,000. Jump Financial LLC acquired a new stake in Amprius Technologies in the 1st quarter valued at approximately $174,000. Finally, Two Sigma Advisers LP acquired a new stake in Amprius Technologies in the 4th quarter valued at approximately $128,000. Institutional investors and hedge funds 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.