Amprius Technologies (NYSE:AMPX) Stock Price Crosses Above 50-Day Moving Average - Here's Why

Key Points

• Amprius shares moved above their 50-day moving average, trading as high as $9.68 and last at $9.54, on volume of about 7.4 million shares.
• Analyst views are mostly positive: MarketBeat reports a “Moderate Buy” consensus and a $21.42 average price target, though one analyst rates the stock Sell.
• Company insiders sold shares worth about $1.27 million over the last quarter; disclosed sales by the CTO and a director were to cover tax withholding on vested equity awards.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $9.10 and traded as high as $9.68. Amprius Technologies shares last traded at $9.54, with a volume of 7,418,239 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Amprius Technologies in a report on Thursday, October 15th. UBS Group reissued an "outperform" rating on shares of Amprius Technologies in a report on Friday. Canaccord Genuity Group assumed coverage on Amprius Technologies in a research report on Wednesday, October 14th. They issued a "buy" rating and a $14.00 target price on the stock. HC Wainwright reaffirmed a "buy" rating and set a $18.00 target price on shares of Amprius Technologies in a research note on Tuesday, September 29th. Finally, National Bank Financial set a $18.00 price target on Amprius Technologies in a research report on Tuesday, September 29th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.42.

Amprius Technologies Stock Performance

The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -32.90 and a beta of 2.36. The company's 50 day simple moving average is $9.10 and its 200 day simple moving average is $13.24.

Insider Activity at Amprius Technologies

In other Amprius Technologies news, CTO Constantin Stefan sold 29,681 shares of the business's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $10.34, for a total value of $306,901.54. Following the sale, the chief technology officer directly owned 771,629 shares in the company, valued at approximately $7,978,643.86. The trade was a 3.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kang Sun sold 62,101 shares of the business's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $10.34, for a total transaction of $642,124.34. Following the completion of the sale, the director owned 1,218,397 shares in the company, valued at $12,598,224.98. The trade was a 4.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 123,311 shares of company stock worth $1,272,556 over the last quarter. 5.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. TD Waterhouse Canada Inc. raised its stake in Amprius Technologies by 355.6% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 2,105 shares of the company's stock valued at $29,000 after purchasing an additional 1,643 shares during the period. Sterling Capital Management LLC lifted its holdings in shares of Amprius Technologies by 847.2% in the third quarter. Sterling Capital Management LLC now owns 4,575 shares of the company's stock valued at $44,000 after purchasing an additional 4,092 shares in the last quarter. KBC Group NV acquired a new stake in shares of Amprius Technologies in the first quarter worth $57,000. Allworth Financial LP boosted its position in shares of Amprius Technologies by 1,150.6% in the second quarter. Allworth Financial LP now owns 4,527 shares of the company's stock worth $63,000 after buying an additional 4,165 shares during the period. Finally, Nykredit A S purchased a new position in shares of Amprius Technologies during the second quarter valued at $79,000. 5.04% of the stock is owned by hedge funds and other institutional investors.

About Amprius Technologies

Amprius Technologies, Inc develops and manufactures lithium-ion batteries designed to provide high energy density and power. Its battery technology uses silicon-based anodes, an alternative to the graphite anodes commonly used in conventional lithium-ion cells.

The company's products are designed for applications where low weight and high performance are important, including electric aviation, drones, aerospace, defense and other mobility markets. Amprius offers silicon-anode cells for customers developing these systems.

Founded in 2008 and based in Fremont, California, Amprius has focused on advancing its battery technology from development toward commercial production.

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