Amprius Technologies, Inc. (NYSE:AMPX) Receives Consensus Recommendation of "Buy" from Analysts

Key Points

• Amprius Technologies, Inc. has received a consensus rating of "Buy" from nine analysts, with an average 12-month target price of $11.71.
• Recent analyst upgrades include price target increases from HC Wainwright (to $18) and Cantor Fitzgerald (to $12).
• Insider transactions included CFO Sandra Wallach and CEO Kang Sun selling a combined total of 117,747 shares of the company's stock in May.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) has received an average rating of "Buy" from the nine analysts that are presently covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $11.7143.

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

Insiders Place Their Bets

In other Amprius Technologies news, CFO Sandra Wallach sold 27,595 shares of the firm's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $2.43, for a total transaction of $67,055.85. Following the completion of the transaction, the chief financial officer directly owned 1,033,665 shares of the company's stock, valued at $2,511,805.95. This trade represents a 2.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kang Sun sold 69,786 shares of the firm's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $2.43, for a total transaction of $169,579.98. Following the transaction, the chief executive officer directly owned 1,812,235 shares of the company's stock, valued at approximately $4,403,731.05. This represents a 3.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 117,747 shares of company stock valued at $286,125 in the last ninety days. Corporate insiders own 12.90% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AMPX. Board of Trustees of The Leland Stanford Junior University bought a new position in shares of Amprius Technologies in the 4th quarter worth about $4,081,000. Geode Capital Management LLC boosted its stake in Amprius Technologies by 167.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,593,607 shares of the company's stock valued at $6,710,000 after purchasing an additional 998,649 shares during the period. Essex Investment Management Co. LLC bought a new position in Amprius Technologies in the 1st quarter worth about $2,508,000. Invesco Ltd. grew its position in Amprius Technologies by 56.5% in the 4th quarter. Invesco Ltd. now owns 2,484,662 shares of the company's stock worth $6,957,000 after purchasing an additional 897,222 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Amprius Technologies by 5,740.5% in the 4th quarter. Renaissance Technologies LLC now owns 765,100 shares of the company's stock worth $2,142,000 after purchasing an additional 752,000 shares during the last quarter. 5.04% of the stock is currently owned by institutional investors.

Amprius Technologies Trading Up 4.1%

Shares of AMPX stock opened at $8.04 on Friday. The company has a market capitalization of $948.16 million, a PE ratio of -24.36 and a beta of 2.72. The firm has a fifty day simple moving average of $5.52 and a 200-day simple moving average of $3.65. Amprius Technologies has a twelve month low of $0.61 and a twelve month high of $9.66.

Amprius Technologies (NYSE:AMPX - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. The business had revenue of $15.07 million during the quarter, compared to the consensus estimate of $12.38 million. Amprius Technologies had a negative net margin of 84.77% and a negative return on equity of 58.22%. Equities research analysts predict that Amprius Technologies will post -0.45 EPS for the current year.

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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