Amprius Technologies (NYSE:AMPX) Shares Gap Up - What's Next?

Key Points

• Amprius Technologies shares jumped at the open, rising from a prior close of $9.75 to $10.88 before settling near $10.05 on heavy volume.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $23.00; individual targets range from $30 to $33, though one analyst maintains a sell rating.
• Insiders sold shares primarily to cover tax obligations tied to equity awards, while institutional investors increased their positions. Institutions own 5.04% of the company, compared with 5.10% held by insiders.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report)'s share price gapped up before the market opened on Monday. The stock had previously closed at $9.75, but opened at $10.88. Amprius Technologies shares last traded at $10.0510, with a volume of 5,436,220 shares.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. JonesTrading started coverage on Amprius Technologies in a report on Friday, July 10th. They issued a "buy" rating and a $30.00 price target on the stock. Zacks Research upgraded Amprius Technologies from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 4th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Amprius Technologies in a research report on Friday, July 17th. Finally, Clear Str began coverage on Amprius Technologies in a research note on Tuesday, June 2nd. They issued a "strong-buy" rating and a $33.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Amprius Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $23.00.

Amprius Technologies Price Performance

The company has a market cap of $1.38 billion, a PE ratio of -33.53 and a beta of 2.33. The stock's 50-day moving average is $10.20 and its 200 day moving average is $14.55.

Insider Transactions at Amprius Technologies

In other news, CEO Thomas Stepien sold 23,529 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $10.34, for a total transaction of $243,289.86. Following the completion of the sale, the chief executive officer owned 602,096 shares in the company, valued at approximately $6,225,672.64. This represents a 3.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Constantin Stefan sold 29,681 shares of the firm's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $10.34, for a total value of $306,901.54. Following the completion of the sale, the chief technology officer directly owned 771,629 shares of the company's stock, valued at $7,978,643.86. The trade was a 3.70% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 123,311 shares of company stock valued at $1,272,556. Corporate insiders own 5.10% of the company's stock.

Institutional Investors Weigh In On Amprius Technologies

Several institutional investors have recently added to or reduced their stakes in AMPX. Sei Investments Co. increased its holdings in shares of Amprius Technologies by 34.1% during the first quarter. Sei Investments Co. now owns 579,161 shares of the company's stock valued at $9,765,000 after acquiring an additional 147,375 shares in the last quarter. SG Americas Securities LLC boosted its stake in Amprius Technologies by 65.7% in the 1st quarter. SG Americas Securities LLC now owns 423,037 shares of the company's stock worth $7,132,000 after purchasing an additional 167,785 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Amprius Technologies by 700.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 431,398 shares of the company's stock worth $6,695,000 after purchasing an additional 377,485 shares in the last quarter. First Trust Advisors LP boosted its stake in Amprius Technologies by 1,105.0% in the 1st quarter. First Trust Advisors LP now owns 394,569 shares of the company's stock worth $6,652,000 after purchasing an additional 361,825 shares in the last quarter. Finally, Calamos Advisors LLC grew its position in Amprius Technologies by 206.2% during the 1st quarter. Calamos Advisors LLC now owns 364,506 shares of the company's stock worth $6,146,000 after purchasing an additional 245,473 shares during the last quarter. Institutional investors and hedge funds own 5.04% of the company's stock.

About Amprius Technologies

Amprius Technologies, Inc NYSE: AMPX develops and manufactures high-performance lithium-ion batteries designed to deliver greater energy density and power than conventional lithium-ion batteries. Its technology uses silicon nanowire anodes in place of traditional graphite anodes, enabling batteries with increased energy storage potential while supporting demanding weight and performance requirements.

The company's battery products are designed for applications including electric aviation, unmanned aerial systems, aerospace, defense, electric mobility and other specialized markets.

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