Brokerages Set Amprius Technologies, Inc. (NYSE:AMPX) Target Price at $9.17

Shares of Amprius Technologies, Inc. (NYSE:AMPX) have been assigned a consensus rating of “Buy” from the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $9.29.

Several research firms have recently issued reports on AMPX. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Amprius Technologies in a research note on Monday, November 11th. Northland Capmk upgraded Amprius Technologies to a “strong-buy” rating in a research report on Wednesday, October 2nd. Northland Securities lifted their price objective on shares of Amprius Technologies from $4.00 to $10.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Finally, Cantor Fitzgerald initiated coverage on shares of Amprius Technologies in a research note on Tuesday, January 21st. They issued an “overweight” rating and a $10.00 target price on the stock.

Amprius Technologies Stock Performance

AMPX stock opened at $3.63 on Tuesday. The company’s fifty day moving average price is $2.51 and its 200-day moving average price is $1.67. Amprius Technologies has a one year low of $0.61 and a one year high of $4.70. The company has a market capitalization of $383.67 million, a PE ratio of -8.06 and a beta of 2.42.

Amprius Technologies (NYSE:AMPX) last issued its earnings results on Thursday, November 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $7.86 million for the quarter, compared to analysts’ expectations of $7.70 million. During the same period in the previous year, the firm posted ($0.10) earnings per share. On average, research analysts predict that Amprius Technologies will post -0.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other Amprius Technologies news, CFO Sandra Wallach sold 17,158 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $1.96, for a total value of $33,629.68. Following the completion of the transaction, the chief financial officer now owns 696,142 shares of the company’s stock, valued at approximately $1,364,438.32. This trade represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jonathan Bornstein sold 18,170 shares of Amprius Technologies stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $1.96, for a total transaction of $35,613.20. Following the sale, the insider now owns 454,131 shares of the company’s stock, valued at $890,096.76. The trade was a 3.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,903 shares of company stock valued at $86,050. 12.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amprius Technologies

Large investors have recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in shares of Amprius Technologies by 50.9% in the 3rd quarter. Geode Capital Management LLC now owns 548,138 shares of the company’s stock valued at $608,000 after buying an additional 184,863 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Amprius Technologies by 124.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 274,047 shares of the company’s stock valued at $304,000 after acquiring an additional 152,102 shares during the period. AQR Capital Management LLC acquired a new position in Amprius Technologies in the second quarter valued at approximately $99,000. XTX Topco Ltd purchased a new stake in Amprius Technologies in the 2nd quarter worth approximately $72,000. Finally, Hamilton Lane Advisors LLC acquired a new stake in shares of Amprius Technologies during the 4th quarter worth approximately $129,000. 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.