Amprius Technologies’ (AMPX) “Buy” Rating Reiterated at HC Wainwright

Amprius Technologies (NYSE:AMPX)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They presently have a $10.00 target price on the stock. HC Wainwright’s price target suggests a potential upside of 329.18% from the stock’s previous close.

A number of other brokerages have also recently issued reports on AMPX. Northland Securities raised their target price on Amprius Technologies from $4.00 to $10.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Cantor Fitzgerald began coverage on Amprius Technologies in a research note on Tuesday, January 21st. They set an “overweight” rating and a $10.00 target price for the company. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $9.29.

Amprius Technologies Price Performance

Amprius Technologies stock opened at $2.33 on Friday. The stock has a fifty day moving average price of $2.92 and a two-hundred day moving average price of $2.10. Amprius Technologies has a 52-week low of $0.61 and a 52-week high of $4.21. The firm has a market capitalization of $246.60 million, a P/E ratio of -5.18 and a beta of 2.56.

Amprius Technologies (NYSE:AMPX) last posted its quarterly earnings results on Thursday, March 20th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.01. The business had revenue of $10.63 million for the quarter, compared to analysts’ expectations of $7.12 million. Amprius Technologies had a negative return on equity of 71.39% and a negative net margin of 245.92%. On average, equities research analysts predict that Amprius Technologies will post -0.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Sandra Wallach sold 18,142 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $3.13, for a total value of $56,784.46. Following the completion of the sale, the chief financial officer now owns 678,000 shares of the company’s stock, valued at approximately $2,122,140. The trade was a 2.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jonathan Bornstein sold 13,527 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $3.13, for a total value of $42,339.51. Following the completion of the sale, the insider now directly owns 419,197 shares of the company’s stock, valued at approximately $1,312,086.61. This trade represents a 3.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,088 shares of company stock valued at $235,025 over the last ninety days. 12.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AMPX. Rhumbline Advisers raised its position in shares of Amprius Technologies by 49.4% in the 4th quarter. Rhumbline Advisers now owns 9,739 shares of the company’s stock worth $27,000 after acquiring an additional 3,222 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in Amprius Technologies during the 4th quarter valued at $28,000. JPMorgan Chase & Co. grew its holdings in shares of Amprius Technologies by 343.1% in the third quarter. JPMorgan Chase & Co. now owns 27,041 shares of the company’s stock worth $30,000 after acquiring an additional 20,939 shares during the period. Kingswood Wealth Advisors LLC bought a new stake in shares of Amprius Technologies in the fourth quarter worth $30,000. Finally, B. Riley Wealth Advisors Inc. grew its holdings in shares of Amprius Technologies by 29.8% in the third quarter. B. Riley Wealth Advisors Inc. now owns 29,200 shares of the company’s stock worth $31,000 after acquiring an additional 6,700 shares during the period. 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.