Amprius Technologies (NYSE:AMPX) Price Target Raised to $18.00

Amprius Technologies (NYSE:AMPX) had its price objective raised by HC Wainwright from $10.00 to $18.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms also recently commented on AMPX. William Blair upgraded shares of Amprius Technologies from a “market perform” rating to an “outperform” rating in a report on Friday, July 18th. Roth Capital reiterated a “buy” rating and issued a $10.00 price objective (up from $6.00) on shares of Amprius Technologies in a report on Tuesday, August 5th. Finally, B. Riley reiterated a “buy” rating and issued a $10.00 price objective (up from $6.00) on shares of Amprius Technologies in a report on Thursday, July 10th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $11.71.

Amprius Technologies Trading Up 4.1%

Shares of AMPX opened at $8.04 on Friday. The company has a market cap of $948.13 million, a price-to-earnings ratio of -24.36 and a beta of 2.72. Amprius Technologies has a 1-year low of $0.61 and a 1-year high of $9.66. The company’s fifty day simple moving average is $5.52 and its 200 day simple moving average is $3.66.

Amprius Technologies (NYSE:AMPX) last issued its earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. Amprius Technologies had a negative net margin of 84.77% and a negative return on equity of 55.79%. The business had revenue of $15.07 million for the quarter, compared to the consensus estimate of $12.38 million. As a group, research analysts forecast that Amprius Technologies will post -0.45 earnings per share for the current year.

Insider Activity

In related news, CTO Constantin Ionel Stefan sold 20,366 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 transaction of $49,489.38. Following the completion of the sale, the chief technology officer owned 866,134 shares of the company’s stock, valued at $2,104,705.62. This represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Kang Sun sold 69,786 shares of the company’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 $169,579.98. Following the sale, the chief executive officer directly owned 1,812,235 shares of the company’s stock, valued at $4,403,731.05. This represents a 3.71% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 117,747 shares of company stock valued at $286,125. 12.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC increased its stake in shares of Amprius Technologies by 17.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 19,134 shares of the company’s stock valued at $81,000 after buying an additional 2,873 shares during the period. Bank of America Corp DE increased its stake in shares of Amprius Technologies by 31.1% in the fourth quarter. Bank of America Corp DE now owns 12,890 shares of the company’s stock valued at $36,000 after buying an additional 3,055 shares during the period. Rhumbline Advisers increased its stake in shares of Amprius Technologies by 61.1% in the first quarter. Rhumbline Advisers now owns 15,690 shares of the company’s stock valued at $42,000 after buying an additional 5,951 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in shares of Amprius Technologies in the fourth quarter valued at approximately $28,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Amprius Technologies in the second quarter valued at approximately $42,000. 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.