Amprius Technologies (NYSE:AMPX) Trading 2% Higher – Here’s What Happened

Amprius Technologies, Inc. (NYSE:AMPX)’s share price was up 2% on Tuesday . The company traded as high as $12.09 and last traded at $12.0410. Approximately 4,640,550 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 8,374,082 shares. The stock had previously closed at $11.81.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AMPX shares. Zacks Research upgraded shares of Amprius Technologies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Wall Street Zen lowered shares of Amprius Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Clear Str began coverage on shares of Amprius Technologies in a report on Tuesday, June 2nd. They set a “strong-buy” rating and a $33.00 price target for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Amprius Technologies in a research report on Friday, July 17th. Finally, Northland Securities set a $24.00 price objective on Amprius Technologies in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Amprius Technologies Stock Down 2.7%

The firm has a 50-day moving average price of $12.87 and a two-hundred day moving average price of $14.95. The company has a market capitalization of $1.69 billion, a P/E ratio of -41.10 and a beta of 2.33.

Insider Activity at Amprius Technologies

In other news, CEO Thomas M. Stepien sold 2,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $20.97, for a total transaction of $41,940.00. Following the completion of the transaction, the chief executive officer owned 625,625 shares of the company’s stock, valued at approximately $13,119,356.25. This represents a 0.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kang Sun sold 67,796 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $14.79, for a total transaction of $1,002,702.84. Following the completion of the sale, the director owned 1,280,854 shares of the company’s stock, valued at approximately $18,943,830.66. The trade was a 5.03% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 310,144 shares of company stock valued at $5,049,997 in the last quarter. Company insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On Amprius Technologies

Several large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its position in shares of Amprius Technologies by 31.1% during the fourth quarter. Bank of America Corp DE now owns 12,890 shares of the company’s stock valued at $36,000 after purchasing an additional 3,055 shares during the period. Quarry LP bought a new position in Amprius Technologies in the third quarter worth $42,000. Rhumbline Advisers lifted its position in Amprius Technologies by 61.1% in the first quarter. Rhumbline Advisers now owns 15,690 shares of the company’s stock worth $42,000 after purchasing an additional 5,951 shares during the period. Legal & General Group Plc boosted its stake in Amprius Technologies by 1,385.4% during the second quarter. Legal & General Group Plc now owns 10,383 shares of the company’s stock worth $44,000 after buying an additional 9,684 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in Amprius Technologies during the second quarter worth $44,000. Institutional investors and hedge funds own 5.04% of the company’s stock.

Amprius Technologies Company Profile

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.