Brokerages Set Amprius Technologies, Inc. (NYSE:AMPX) Price Target at $11.71

Key Points

• Amprius Technologies has received a consensus rating of "Buy" from nine research firms, with an average twelve-month price target of $11.71.
• Insider selling has occurred, with CEO Kang Sun and CTO Constantin Ionel Stefan each selling shares valued at approximately $447,760 and $130,664 respectively.
• Recent quarterly earnings indicated that Amprius Technologies reported revenue of $15.07 million, surpassing analyst expectations of $12.38 million.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) has received a consensus rating of "Buy" from the nine brokerages that are covering the company, Marketbeat reports. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $11.7143.

AMPX has been the subject of a number of recent analyst reports. HC Wainwright restated a "buy" rating and set a $18.00 price target (up previously from $10.00) on shares of Amprius Technologies in a report on Friday, August 8th. Cantor Fitzgerald boosted their target price on Amprius Technologies from $10.00 to $12.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. B. Riley increased their price objective 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. William Blair raised shares of Amprius Technologies from a "market perform" rating to an "outperform" rating in a research report on Friday, July 18th. Finally, Roth Capital reiterated a "buy" rating and issued a $10.00 price target (up previously from $6.00) on shares of Amprius Technologies in a research note on Tuesday, August 5th.

Amprius Technologies Trading Down 3.1%

Shares of NYSE AMPX traded down $0.23 during trading on Wednesday, reaching $7.10. The company had a trading volume of 3,837,266 shares, compared to its average volume of 7,026,165. Amprius Technologies has a 12-month low of $0.61 and a 12-month high of $9.66. The business's 50-day moving average is $6.91 and its 200 day moving average is $4.14.

Amprius Technologies (NYSE:AMPX - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.03. The company had revenue of $15.07 million for the quarter, compared to analysts' expectations of $12.38 million. Amprius Technologies had a negative net margin of 84.77% and a negative return on equity of 55.79%. As a group, equities analysts forecast that Amprius Technologies will post -0.45 EPS for the current fiscal year.

Insider Buying and Selling

In other Amprius Technologies news, CFO Sandra Wallach sold 28,390 shares of Amprius Technologies stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total transaction of $193,619.80. Following the sale, the chief financial officer directly owned 1,005,275 shares of the company's stock, valued at approximately $6,855,975.50. The trade was a 2.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kang Sun sold 65,654 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $6.82, for a total value of $447,760.28. Following the transaction, the chief executive officer directly owned 1,472,306 shares of the company's stock, valued at approximately $10,041,126.92. The trade was a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,203 shares of company stock valued at $772,044 over the last ninety days. 12.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Amprius Technologies

A number of hedge funds have recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV purchased a new position in shares of Amprius Technologies in the 4th quarter worth about $28,000. Bank of America Corp DE boosted its stake in Amprius Technologies by 31.1% during the fourth quarter. Bank of America Corp DE now owns 12,890 shares of the company's stock worth $36,000 after buying an additional 3,055 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in Amprius Technologies during the 1st quarter worth approximately $40,000. Ameritas Investment Partners Inc. lifted its holdings in Amprius Technologies by 2,043.2% in the second quarter. Ameritas Investment Partners Inc. now owns 9,516 shares of the company's stock valued at $40,000 after buying an additional 9,072 shares during the period. Finally, Cornerstone Partners Capital Management LLC acquired a new position in shares of Amprius Technologies in the 1st quarter valued at approximately $41,000. Institutional investors and hedge funds 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.