Amprius Technologies (NYSE:AMPX) Shares Gap Up – Here’s What Happened

Shares of Amprius Technologies, Inc. (NYSE:AMPX) gapped up prior to trading on Friday . The stock had previously closed at $7.89, but opened at $8.45. Amprius Technologies shares last traded at $8.4250, with a volume of 387,823 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AMPX. Roth Capital set a $14.00 price target on shares of Amprius Technologies and gave the company a “buy” rating in a report on Wednesday, October 22nd. Oppenheimer reaffirmed an “outperform” rating and issued a $17.00 target price on shares of Amprius Technologies in a report on Tuesday, December 23rd. Northland Securities set a $20.00 price target on Amprius Technologies in a research note on Tuesday, October 7th. Cantor Fitzgerald raised their price target on Amprius Technologies from $12.00 to $16.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Amprius Technologies in a research note on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.57.

Amprius Technologies Stock Up 6.7%

The company’s 50 day moving average price is $10.88 and its two-hundred day moving average price is $9.14. The firm has a market cap of $1.10 billion, a PE ratio of -32.08 and a beta of 3.04.

Amprius Technologies (NYSE:AMPX) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.03. The company had revenue of $21.43 million for the quarter, compared to the consensus estimate of $16.45 million. Amprius Technologies had a negative net margin of 53.16% and a negative return on equity of 38.85%. On average, analysts expect that Amprius Technologies, Inc. will post -0.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Amprius Technologies news, CEO Kang Sun sold 1,000,000 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $10.60, for a total value of $10,600,000.00. Following the transaction, the chief executive officer owned 1,472,306 shares of the company’s stock, valued at $15,606,443.60. This represents a 40.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Constantin Ionel Stefan sold 198,255 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $10.51, for a total value of $2,083,660.05. Following the completion of the sale, the chief technology officer owned 748,696 shares in the company, valued at approximately $7,868,794.96. The trade was a 20.94% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,291,934 shares of company stock valued at $13,627,944. 12.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amprius Technologies

Several large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its position 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 in the last quarter. Nuveen LLC bought a new position in Amprius Technologies in the first quarter worth about $62,000. Jump Financial LLC bought a new position in Amprius Technologies in the first quarter worth about $174,000. Baird Financial Group Inc. purchased a new stake in shares of Amprius Technologies during the first quarter valued at about $1,341,000. Finally, AQR Capital Management LLC boosted its holdings in shares of Amprius Technologies by 86.7% in the 1st quarter. AQR Capital Management LLC now owns 77,764 shares of the company’s stock valued at $208,000 after buying an additional 36,116 shares in the last quarter. 5.04% of the stock is owned by hedge funds and other institutional investors.

About Amprius Technologies

Amprius Technologies, Inc (NYSE: AMPX) is a U.S.-based developer of high-energy-density lithium-ion batteries that leverage silicon anode technology to deliver performance levels beyond conventional graphite-based cells. The company’s batteries are designed to offer industry-leading gravimetric energy density, enabling longer run times and reduced weight for portable power applications. Amprius blends advanced materials science and scalable manufacturing processes to commercialize next-generation battery solutions.

At the core of Amprius’ product portfolio are cylindrical and prismatic cells that employ a proprietary silicon nanowire anode, which supports high charge/discharge rates while maintaining cycle life.