Amprius Technologies’ (AMPX) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Amprius Technologies (NYSE:AMPX) in a report released on Friday,Benzinga reports. HC Wainwright currently has a $10.00 price target on the stock.

AMPX has been the subject of a number of other research reports. Northland Securities upped their price objective on shares of Amprius Technologies from $4.00 to $10.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Cantor Fitzgerald assumed coverage on Amprius Technologies in a report on Tuesday, January 21st. They issued an “overweight” rating and a $10.00 price objective on the stock. Seven 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 MarketBeat, Amprius Technologies currently has a consensus rating of “Buy” and an average target price of $9.43.

Amprius Technologies Stock Performance

Shares of NYSE:AMPX opened at $3.11 on Friday. Amprius Technologies has a one year low of $0.61 and a one year high of $4.21. The stock has a market capitalization of $328.63 million, a price-to-earnings ratio of -6.90 and a beta of 2.56. The company has a 50-day simple moving average of $2.91 and a 200-day simple moving average of $2.12.

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

Insider Activity

In related news, CFO Sandra Wallach sold 18,142 shares of Amprius Technologies stock in a transaction on Friday, February 21st. The stock was sold at an average price of $3.13, for a total transaction of $56,784.46. Following the completion of the transaction, the chief financial officer now directly owns 678,000 shares of the company’s stock, valued at approximately $2,122,140. The trade was a 2.61 % 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, CEO Kang Sun sold 34,353 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $3.13, for a total value of $107,524.89. Following the completion of the sale, the chief executive officer now directly owns 1,282,621 shares in the company, valued at $4,014,603.73. This trade represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 75,088 shares of company stock worth $235,025. Company insiders own 12.80% of the company’s stock.

Institutional Trading of Amprius Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC increased its stake in shares of Amprius Technologies by 50.9% during the 3rd quarter. Geode Capital Management LLC now owns 548,138 shares of the company’s stock worth $608,000 after purchasing an additional 184,863 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Amprius Technologies by 124.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 274,047 shares of the company’s stock worth $304,000 after buying an additional 152,102 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of Amprius Technologies in the fourth quarter valued at $328,000. JPMorgan Chase & Co. boosted its stake in shares of Amprius Technologies by 343.1% during the third quarter. JPMorgan Chase & Co. now owns 27,041 shares of the company’s stock valued at $30,000 after acquiring an additional 20,939 shares during the last quarter. Finally, State Street Corp increased its position in Amprius Technologies by 4.7% during the 3rd quarter. State Street Corp now owns 286,390 shares of the company’s stock worth $318,000 after purchasing an additional 12,900 shares in the last quarter. Hedge funds and other institutional investors own 5.04% of the company’s stock.

About Amprius Technologies

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.