Traders Buy High Volume of Call Options on Amprius Technologies (NYSE:AMPX)

Key Points

• Amprius Technologies experienced a significant surge in options trading, with traders buying 10,882 call options, marking a 157% increase from the average volume.
• The company's stock price rose 6.2% on Friday, closing at $8.20, with over 10 million shares exchanged, well above its average trading volume.
• Several research firms issued positive reports on AMPX, with target price upgrades, including Roth Capital raising their price target to $10.00 and HC Wainwright to $18.00.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) was the target of some unusual options trading activity on Friday. Stock investors acquired 10,882 call options on the stock. Thisrepresentsanincreaseof157% compared to the average volume of 4,235 call options.

Amprius Technologies Trading Up 6.2%

NYSE AMPX traded up $0.48 on Friday, hitting $8.20. 10,150,301 shares of the company were exchanged, compared to its average volume of 4,935,291. Amprius Technologies has a 1-year low of $0.61 and a 1-year high of $9.66. The firm has a 50 day moving average of $5.41 and a two-hundred day moving average of $3.62. The company has a market cap of $967.00 million, a P/E ratio of -20.20 and a beta of 2.72.

Amprius Technologies (NYSE:AMPX - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.03. The business had revenue of $15.07 million for the quarter, compared to analysts' expectations of $12.38 million. Amprius Technologies had a negative net margin of 133.34% and a negative return on equity of 67.67%. Research analysts anticipate that Amprius Technologies will post -0.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AMPX. Roth Capital reiterated a "buy" rating and set a $10.00 price objective (up from $6.00) on shares of Amprius Technologies in a research note on Tuesday. B. Riley upped their target price on shares of Amprius Technologies from $10.00 to $11.00 and gave the stock a "buy" rating in a report on Friday. HC Wainwright increased their target price on shares of Amprius Technologies from $10.00 to $18.00 and gave the stock a "buy" rating in a research report on Friday. Finally, William Blair upgraded shares of Amprius Technologies from a "market perform" rating to an "outperform" rating in a research report on Friday, July 18th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $11.43.

Insider Activity

In related news, CFO Sandra Wallach sold 27,595 shares of the stock in a transaction dated 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 of the company's stock, valued at $2,511,805.95. This represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Constantin Ionel Stefan sold 20,366 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was 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. This represents a 2.30% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 117,747 shares of company stock worth $286,125. Corporate insiders own 12.90% of the company's stock.

Institutional Investors Weigh In On Amprius Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in AMPX. Invesco Ltd. boosted its stake in Amprius Technologies by 56.5% in the fourth quarter. Invesco Ltd. now owns 2,484,662 shares of the company's stock valued at $6,957,000 after acquiring an additional 897,222 shares during the last quarter. Board of Trustees of The Leland Stanford Junior University bought a new position in shares of Amprius Technologies in the 4th quarter worth $4,081,000. Millennium Management LLC boosted its position in shares of Amprius Technologies by 94.5% in the 1st quarter. Millennium Management LLC now owns 1,396,013 shares of the company's stock worth $3,741,000 after purchasing an additional 678,442 shares during the last quarter. Essex Investment Management Co. LLC acquired a new stake in shares of Amprius Technologies during the first quarter worth $2,508,000. Finally, Renaissance Technologies LLC increased its holdings in Amprius Technologies by 5,740.5% in the fourth quarter. Renaissance Technologies LLC now owns 765,100 shares of the company's stock valued at $2,142,000 after purchasing an additional 752,000 shares during the last quarter. 5.04% of the stock is owned by institutional investors and hedge funds.

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.

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