B. Riley Forecasts Strong Price Appreciation for Amprius Technologies (NYSE:AMPX) Stock

Key Points

• B. Riley analysts raised Amprius Technologies' price target from $10.00 to $11.00, indicating a potential upside of 21.78%.
• The company recently reported earnings of ($0.05) per share, exceeding expectations, along with quarterly revenue of $15.07 million.
• Insider trading activity showed significant sales, with the CTO and CFO selling shares, resulting in a combined 117,747 shares sold by insiders in the last quarter.

Amprius Technologies (NYSE:AMPX - Free Report) had its price target lifted by B. Riley from $10.00 to $11.00 in a research note published on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

AMPX has been the subject of several other 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 report on Tuesday, August 5th. William Blair raised Amprius Technologies from a "market perform" rating to an "outperform" rating in a research note on Friday, July 18th. Finally, HC Wainwright reissued a "buy" rating and issued a $18.00 target price (up previously from $10.00) on shares of Amprius Technologies in a research note on Friday. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $11.71.

Amprius Technologies Stock Performance

Amprius Technologies stock traded down $0.26 during trading hours on Friday, reaching $7.80. 7,552,061 shares of the stock were exchanged, compared to its average volume of 5,042,838. Amprius Technologies has a 52-week low of $0.61 and a 52-week high of $9.66. The stock has a market cap of $919.48 million, a P/E ratio of -23.68 and a beta of 2.72. The firm's 50 day moving average is $5.52 and its 200 day moving average is $3.66.

Amprius Technologies (NYSE:AMPX - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.05) earnings per share 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 business had revenue of $15.07 million for the quarter, compared to analyst estimates of $12.38 million. Equities research analysts expect that Amprius Technologies will post -0.45 EPS for the current fiscal year.

Insider Transactions at Amprius Technologies

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

Institutional Investors Weigh In On Amprius Technologies

Several large investors have recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV bought a new position in shares of Amprius Technologies during the 4th quarter worth approximately $28,000. Bank of America Corp DE lifted its stake in shares of Amprius Technologies by 31.1% in the fourth quarter. Bank of America Corp DE now owns 12,890 shares of the company's stock worth $36,000 after acquiring an additional 3,055 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Amprius Technologies in the first quarter worth approximately $40,000. Cornerstone Partners Capital Management LLC acquired a new position in Amprius Technologies in the first quarter valued at approximately $41,000. Finally, Rhumbline Advisers increased its holdings in shares of Amprius Technologies by 61.1% during the first quarter. Rhumbline Advisers now owns 15,690 shares of the company's stock valued at $42,000 after acquiring an additional 5,951 shares in the last quarter. Institutional investors 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.