Amprius Technologies (NYSE:AMPX) Shares Up 9.6% - Here's Why

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) shares were up 9.6% during trading on Tuesday . The stock traded as high as $7.71 and last traded at $7.38. Approximately 7,431,366 shares traded hands during trading, an increase of 135% from the average daily volume of 3,159,523 shares. The stock had previously closed at $6.73.

Analyst Upgrades and Downgrades

Several research analysts have commented on AMPX shares. Oppenheimer lifted their target price on Amprius Technologies from $14.00 to $15.00 and gave the stock an "outperform" rating in a report on Friday, March 21st. William Blair raised Amprius Technologies from a "market perform" rating to an "outperform" rating in a report on Friday. HC Wainwright reaffirmed a "buy" rating and set a $10.00 target price on shares of Amprius Technologies in a report on Friday, March 21st. Roth Mkm reaffirmed a "buy" rating and set a $6.00 target price on shares of Amprius Technologies in a report on Friday, March 21st. Finally, B. Riley reaffirmed a "buy" rating and set a $10.00 target price (up from $6.00) on shares of Amprius Technologies in a report on Thursday, July 10th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Amprius Technologies presently has an average rating of "Buy" and a consensus price target of $10.17.

Amprius Technologies Trading Up 7.8%

The company has a 50-day moving average price of $4.00 and a two-hundred day moving average price of $3.19. The stock has a market capitalization of $1.02 billion, a P/E ratio of -21.20 and a beta of 2.68.

Amprius Technologies (NYSE:AMPX - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.01. Amprius Technologies had a negative return on equity of 67.67% and a negative net margin of 133.34%. The firm had revenue of $11.28 million during the quarter, compared to analyst estimates of $8.52 million. Research analysts forecast that Amprius Technologies, Inc. will post -0.45 earnings per share for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Amprius Technologies

Several institutional investors have recently bought and sold shares of AMPX. Bank of America Corp DE raised its holdings in Amprius Technologies by 31.1% during the 4th quarter. Bank of America Corp DE now owns 12,890 shares of the company's stock valued at $36,000 after acquiring an additional 3,055 shares during the period. Rhumbline Advisers raised its holdings in Amprius Technologies by 61.1% during the 1st quarter. Rhumbline Advisers now owns 15,690 shares of the company's stock valued at $42,000 after acquiring an additional 5,951 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in Amprius Technologies during the 4th quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Amprius Technologies during the 2nd quarter valued at $42,000. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in Amprius Technologies during the 1st quarter valued at $40,000. Hedge funds and other institutional investors 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.