Amprius Technologies, Inc. (NYSE:AMPX) Given Consensus Recommendation of "Buy" by Brokerages

Key Points

• Amprius Technologies, Inc. (NYSE:AMPX) has received a consensus recommendation of "Buy" from nine brokerages, with eight analysts issuing a buy rating and one a strong buy rating for the stock.
• The average twelve-month price target among analysts for Amprius Technologies is $11.71, with price targets as high as $18.00 from HC Wainwright.
• Despite a recent share price decline of 1.0%, the company reported a quarterly revenue of $15.07 million, exceeding the consensus estimate of $12.38 million.

Shares of Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) have earned an average recommendation of "Buy" from the nine brokerages that are covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $11.7143.

AMPX has been the subject of a number of recent research reports. Roth Capital restated a "buy" rating and issued a $10.00 price objective (up from $6.00) on shares of Amprius Technologies in a report on Tuesday, August 5th. William Blair upgraded Amprius Technologies from a "market perform" rating to an "outperform" rating in a research report on Friday, July 18th. B. Riley increased their price target on Amprius Technologies from $10.00 to $11.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Cantor Fitzgerald lifted their price objective on Amprius Technologies from $10.00 to $12.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Finally, HC Wainwright reiterated a "buy" rating and issued a $18.00 target price (up from $10.00) on shares of Amprius Technologies in a report on Friday, August 8th.

Amprius Technologies Trading Down 1.0%

Shares of AMPX stock opened at $10.96 on Friday. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of -33.22 and a beta of 2.72. The business's 50-day moving average price is $8.17 and its 200-day moving average price is $4.97. Amprius Technologies has a 12 month low of $0.92 and a 12 month high of $12.29.

Amprius Technologies (NYSE:AMPX - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.03. Amprius Technologies had a negative return on equity of 55.79% and a negative net margin of 84.77%.The company had revenue of $15.07 million during the quarter, compared to the consensus estimate of $12.38 million. On average, sell-side analysts predict that Amprius Technologies will post -0.45 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO Constantin Ionel Stefan sold 19,159 shares of Amprius Technologies stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $6.82, for a total transaction of $130,664.38. Following the completion of the transaction, the chief technology officer owned 846,975 shares of the company's stock, valued at $5,776,369.50. This trade represents a 2.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sandra Wallach sold 28,390 shares of the company's stock in a transaction on Thursday, August 21st. The shares were 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 in the company, valued at $6,855,975.50. This trade represents a 2.75% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,203 shares of company stock valued at $772,044. 12.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amprius Technologies

Several large investors have recently added to or reduced their stakes in AMPX. Geode Capital Management LLC increased its holdings in Amprius Technologies by 167.9% in the second quarter. Geode Capital Management LLC now owns 1,593,607 shares of the company's stock worth $6,710,000 after purchasing an additional 998,649 shares in the last quarter. Millennium Management LLC increased its stake in shares of Amprius Technologies by 94.5% in the 1st quarter. Millennium Management LLC now owns 1,396,013 shares of the company's stock valued at $3,741,000 after acquiring an additional 678,442 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Amprius Technologies by 16.1% during the 2nd quarter. Marshall Wace LLP now owns 1,105,413 shares of the company's stock valued at $4,654,000 after acquiring an additional 153,476 shares during the period. JPMorgan Chase & Co. boosted its stake in Amprius Technologies by 12,063.3% during the second quarter. JPMorgan Chase & Co. now owns 1,017,217 shares of the company's stock worth $4,282,000 after acquiring an additional 1,008,854 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its stake in Amprius Technologies by 99.9% during the second quarter. Baird Financial Group Inc. now owns 1,000,711 shares of the company's stock worth $4,213,000 after acquiring an additional 500,212 shares in the last quarter. Institutional investors and hedge funds 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.

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