Analysts Set Amprius Technologies, Inc. (NYSE:AMPX) Price Target at $9.50

Shares of Amprius Technologies, Inc. (NYSE:AMPX) have been given a consensus rating of “Buy” by the seven analysts that are presently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $9.50.

A number of brokerages have recently issued reports on AMPX. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price target on shares of Amprius Technologies in a research note on Friday, March 21st. Oppenheimer lifted their target price on shares of Amprius Technologies from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Friday, March 21st. Roth Mkm reaffirmed a “buy” rating and set a $6.00 target price on shares of Amprius Technologies in a report on Friday, March 21st. Finally, B. Riley increased their target price on shares of Amprius Technologies from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Friday, March 21st.

Amprius Technologies Stock Up 13.0%

AMPX stock opened at $4.27 on Friday. Amprius Technologies has a 52 week low of $0.61 and a 52 week high of $4.41. The firm has a 50-day simple moving average of $2.87 and a 200-day simple moving average of $2.77. The stock has a market capitalization of $503.56 million, a P/E ratio of -10.41 and a beta of 2.37.

Amprius Technologies (NYSE:AMPX) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.01. Amprius Technologies had a negative return on equity of 67.67% and a negative net margin of 133.34%. The company had revenue of $11.28 million for the quarter, compared to analysts’ expectations of $8.52 million. On average, analysts expect that Amprius Technologies will post -0.45 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Kang Sun sold 69,786 shares of the company’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $2.43, for a total value of $169,579.98. Following the completion of the sale, the chief executive officer now owns 1,812,235 shares of the company’s stock, valued at approximately $4,403,731.05. This represents a 3.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Sandra Wallach sold 27,595 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 $67,055.85. Following the sale, the chief financial officer now owns 1,033,665 shares of the company’s stock, valued at approximately $2,511,805.95. The trade was a 2.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 117,747 shares of company stock worth $286,125. 12.90% of the stock is owned by corporate insiders.

Institutional Trading of Amprius Technologies

Several institutional investors have recently made changes to their positions in the company. Bank of America Corp DE grew its position in Amprius Technologies by 31.1% in the fourth quarter. Bank of America Corp DE now owns 12,890 shares of the company’s stock worth $36,000 after acquiring an additional 3,055 shares during the period. Rhumbline Advisers lifted its stake in shares of Amprius Technologies by 49.4% in the 4th quarter. Rhumbline Advisers now owns 9,739 shares of the company’s stock valued at $27,000 after purchasing an additional 3,222 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Amprius Technologies in the 4th quarter valued at $28,000. O Dell Group LLC purchased a new position in shares of Amprius Technologies during the 4th quarter worth $35,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Amprius Technologies during the 1st quarter worth about $40,000. Hedge funds and other institutional investors own 5.04% of the company’s stock.

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.