Amprius Technologies’ (AMPX) “Sell (E+)” Rating Reiterated at Weiss Ratings

Weiss Ratings reaffirmed their sell (e+) rating on shares of Amprius Technologies (NYSE:AMPX) in a report issued on Wednesday,Weiss Ratings reports.

A number of other research analysts have also recently weighed in on AMPX. Northland Securities set a $20.00 price objective on shares of Amprius Technologies in a research report on Tuesday. Roth Capital reaffirmed a “buy” rating and set a $10.00 price target (up from $6.00) on shares of Amprius Technologies in a research note on Tuesday, August 5th. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target (up from $10.00) on shares of Amprius Technologies in a research note on Friday, August 8th. William Blair raised shares of Amprius Technologies from a “market perform” rating to an “outperform” rating in a research note on Friday, July 18th. Finally, B. Riley boosted their target price on shares of Amprius Technologies from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Eight research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.14.

Amprius Technologies Trading Down 6.8%

AMPX opened at $11.94 on Wednesday. The firm has a market cap of $1.49 billion, a P/E ratio of -36.18 and a beta of 2.85. Amprius Technologies has a 12 month low of $1.16 and a 12 month high of $14.07. The stock has a 50-day moving average of $9.07 and a 200 day moving average of $5.62.

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

Insider Transactions at Amprius Technologies

In other Amprius Technologies news, CEO Kang Sun sold 65,654 shares of the company’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total transaction of $447,760.28. Following the completion of the sale, the chief executive officer owned 1,472,306 shares in the company, valued at $10,041,126.92. This represents a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Constantin Ionel Stefan sold 19,159 shares of the stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $6.82, for a total value of $130,664.38. Following the sale, the chief technology officer directly owned 846,975 shares in the company, valued at $5,776,369.50. This trade represents a 2.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,203 shares of company stock valued at $772,044. Company insiders own 12.90% of the company’s stock.

Institutional Investors Weigh In On Amprius Technologies

Hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE lifted 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 buying an additional 3,055 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Amprius Technologies by 61.1% during 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 last quarter. FNY Investment Advisers LLC purchased a new stake in Amprius Technologies during the first quarter valued at approximately $298,000. Kingswood Wealth Advisors LLC boosted its stake in Amprius Technologies by 459.2% in the first quarter. Kingswood Wealth Advisors LLC now owns 59,019 shares of the company’s stock valued at $154,000 after acquiring an additional 48,465 shares in the last quarter. Finally, Cornerstone Partners Capital Management LLC acquired a new stake in Amprius Technologies in the first quarter valued at approximately $41,000. 5.04% of the stock is currently owned by hedge funds and other institutional investors.

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.