Amprius Technologies (NYSE:AMPX) Earns Buy Rating from Roth Capital

Key Points

• Roth Capital has reiterated a "buy" rating for Amprius Technologies (AMPX) with a new price target of $10.00, indicating a potential upside of 20.31% from the current price.
• A recent report showed that Amprius Technologies had a positive quarterly earnings report, with revenue of $11.28 million, surpassing analysts' expectations of $8.52 million.
• Insider trading activity revealed that both CEO Kang Sun and CFO Sandra Wallach sold shares of the company, which constitutes a decrease in their ownership of Amprius Technologies stock.

Roth Capital reissued their buy rating on shares of Amprius Technologies (NYSE:AMPX - Free Report) in a report published on Tuesday, MarketBeat.com reports. Roth Capital currently has a $10.00 price target on the stock, up from their previous price target of $6.00.

Several other research analysts have also recently commented on the stock. William Blair upgraded shares of Amprius Technologies from a "market perform" rating to an "outperform" rating in a report on Friday, July 18th. B. Riley restated a "buy" rating and issued a $10.00 price target (up from $6.00) on shares of Amprius Technologies in a research note on Thursday, July 10th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $11.43.

Amprius Technologies Stock Performance

Shares of Amprius Technologies stock traded up $0.39 during trading hours on Tuesday, reaching $8.11. 12,667,593 shares of the company were exchanged, compared to its average volume of 4,961,224. The firm has a market cap of $956.74 million, a PE ratio of -19.95 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 stock's fifty day moving average is $5.41 and its 200 day moving average is $3.62.

Amprius Technologies (NYSE:AMPX - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.08) by $0.03. Amprius Technologies had a negative return on equity of 67.67% and a negative net margin of 133.34%. The company had revenue of $15.07 million for the quarter, compared to analyst estimates of $12.38 million. Research analysts expect that Amprius Technologies will post -0.45 earnings per share for the current year.

Insider Transactions at Amprius Technologies

In other Amprius Technologies news, CTO Constantin Ionel Stefan sold 20,366 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was 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 directly owned 866,134 shares of the company's stock, valued at $2,104,705.62. This represents a 2.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sandra Wallach sold 27,595 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $2.43, for a total value of $67,055.85. Following the sale, the chief financial officer directly owned 1,033,665 shares of the company's stock, valued at approximately $2,511,805.95. This represents a 2.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 117,747 shares of company stock worth $286,125. Insiders own 12.90% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. American Century Companies Inc. purchased a new stake in Amprius Technologies in the 4th quarter valued at approximately $68,000. Geode Capital Management LLC grew its holdings in Amprius Technologies by 6.0% during the fourth quarter. Geode Capital Management LLC now owns 580,819 shares of the company's stock worth $1,626,000 after acquiring an additional 32,681 shares during the period. Invesco Ltd. raised its position in Amprius Technologies by 56.5% in the fourth quarter. Invesco Ltd. now owns 2,484,662 shares of the company's stock worth $6,957,000 after acquiring an additional 897,222 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Amprius Technologies by 5,740.5% in the fourth quarter. Renaissance Technologies LLC now owns 765,100 shares of the company's stock valued at $2,142,000 after acquiring an additional 752,000 shares during the period. Finally, Advisory Services Network LLC purchased a new stake in shares of Amprius Technologies during the 4th quarter worth $99,000. 5.04% of the stock is currently owned by institutional investors and hedge funds.

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.