Amprius Technologies (NYSE:AMPX) Earns Sell (E+) Rating from Weiss Ratings

Key Points

• Weiss Ratings has reiterated a sell (e+) rating for Amprius Technologies (NYSE:AMPX), while other analysts have issued various ratings, with a consensus target price of $13.71.
• Amprius Technologies' stock rose 10.2% recently, reaching a price of $12.86, and has a market capitalization of $1.61 billion.
• Insiders, including the CFO and CEO, recently sold shares worth over $640,000, representing a decrease in their ownership positions by approximately 2.75% and 4.27%, respectively.

Amprius Technologies (NYSE:AMPX - Get Free Report)'s stock had its "sell (e+)" rating reiterated by stock analysts at Weiss Ratings in a note issued to investors on Friday,Weiss Ratings reports.

A number of other research firms have also issued reports on AMPX. Roth Capital set a $14.00 target price on shares of Amprius Technologies and gave the stock a "buy" rating in a report on Wednesday. Cantor Fitzgerald increased their target price on shares of Amprius Technologies from $10.00 to $12.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Northland Securities set a $20.00 target price on shares of Amprius Technologies in a report on Tuesday, October 7th. 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, 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 report on Friday, August 8th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $13.71.

Amprius Technologies Stock Up 10.2%

NYSE:AMPX traded up $1.20 on Friday, hitting $12.86. The stock had a trading volume of 5,422,033 shares, compared to its average volume of 5,994,728. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of -38.92 and a beta of 2.85. The company has a fifty day moving average price of $9.95 and a two-hundred day moving average price of $6.24. Amprius Technologies has a 1-year low of $1.18 and a 1-year high of $16.03.

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

Insider Transactions at Amprius Technologies

In other news, CFO Sandra Wallach sold 28,390 shares of the firm's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $6.82, for a total value of $193,619.80. Following the completion of the sale, the chief financial officer owned 1,005,275 shares in the company, valued at approximately $6,855,975.50. This trade represents a 2.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kang Sun sold 65,654 shares of the firm's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total transaction of $447,760.28. Following the completion of the sale, the chief executive officer owned 1,472,306 shares of the company's stock, valued at $10,041,126.92. This trade represents a 4.27% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,203 shares of company stock worth $772,044. Company insiders own 12.90% of the company's stock.

Institutional Trading of Amprius Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its holdings in Amprius Technologies by 12,063.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,017,217 shares of the company's stock valued at $4,282,000 after acquiring an additional 1,008,854 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Amprius Technologies by 167.9% during the second quarter. Geode Capital Management LLC now owns 1,593,607 shares of the company's stock worth $6,710,000 after buying an additional 998,649 shares in the last quarter. Essex Investment Management Co. LLC purchased a new stake in shares of Amprius Technologies during the first quarter worth about $2,508,000. Millennium Management LLC grew its holdings in shares of Amprius Technologies by 94.5% during the first quarter. Millennium Management LLC now owns 1,396,013 shares of the company's stock worth $3,741,000 after buying an additional 678,442 shares in the last quarter. Finally, Baird Financial Group Inc. purchased a new stake in shares of Amprius Technologies during the first quarter worth about $1,341,000. 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.

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