Amprius Technologies (NYSE:AMPX) Trading Up 9.1% - Here's What Happened

Shares of Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) rose 9.1% on Wednesday . The company traded as high as $4.27 and last traded at $4.27. Approximately 3,224,756 shares were traded during mid-day trading, an increase of 15% from the average daily volume of 2,800,209 shares. The stock had previously closed at $3.91.

Analysts Set New Price Targets

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

Amprius Technologies Price Performance

The firm has a market capitalization of $550.73 million, a price-to-earnings ratio of -11.39 and a beta of 2.68. The firm's fifty day moving average is $3.11 and its 200 day moving average is $2.87.

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

Insider Buying and Selling

In related news, CTO Constantin Ionel Stefan sold 20,366 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $2.43, for a total transaction of $49,489.38. Following the transaction, the chief technology officer owned 866,134 shares of the company's stock, valued at approximately $2,104,705.62. The trade was a 2.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kang Sun sold 69,786 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $2.43, for a total transaction of $169,579.98. Following the transaction, the chief executive officer directly owned 1,812,235 shares in the company, valued at $4,403,731.05. This trade represents a 3.71% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 117,747 shares of company stock valued at $286,125. 12.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amprius Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of AMPX. Rhumbline Advisers boosted its stake in Amprius Technologies by 49.4% during the fourth quarter. Rhumbline Advisers now owns 9,739 shares of the company's stock worth $27,000 after buying an additional 3,222 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in Amprius Technologies during the fourth quarter worth $28,000. O Dell Group LLC acquired a new stake in Amprius Technologies during the fourth quarter worth $35,000. Bank of America Corp DE boosted its stake in Amprius Technologies by 31.1% during the fourth quarter. Bank of America Corp DE now owns 12,890 shares of the company's stock worth $36,000 after buying an additional 3,055 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in Amprius Technologies during the first quarter worth $40,000. 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.