Amprius Technologies (NYSE:AMPX) Upgraded by Zacks Research to "Hold" Rating

Key Points

• Zacks Research upgraded Amprius Technologies to “Hold” from “Strong Sell,” while the broader analyst consensus remains “Moderate Buy” with a $22.50 target price.
• Amprius shares opened at $11.80 after reportedly rising 9.2%; the stock has traded between $6.36 and $24.23 over the past year.
• The company missed quarterly EPS expectations, reporting a loss of $0.04 per share versus a projected loss of $0.02, although revenue of $28.54 million exceeded estimates.

Amprius Technologies (NYSE:AMPX - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Tuesday,Zacks.com reports.

A number of other research firms have also weighed in on AMPX. Northland Securities set a $24.00 target price on shares of Amprius Technologies in a research report on Monday, May 11th. Wall Street Zen downgraded Amprius Technologies from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Weiss Ratings reissued a "sell (e+)" rating on shares of Amprius Technologies in a research report on Friday, July 17th. Roth Capital restated a "buy" rating on shares of Amprius Technologies in a research note on Friday, May 8th. Finally, JonesTrading assumed coverage on Amprius Technologies in a report on Friday, July 10th. They issued a "buy" rating and a $30.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $22.50.

Amprius Technologies Stock Up 9.2%

NYSE:AMPX opened at $11.80 on Tuesday. Amprius Technologies has a 12 month low of $6.36 and a 12 month high of $24.23. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of -40.69 and a beta of 2.33. The company's 50 day moving average is $13.85 and its 200-day moving average is $14.93.

Amprius Technologies (NYSE:AMPX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.02). Amprius Technologies had a negative return on equity of 13.23% and a negative net margin of 35.16%.The firm had revenue of $28.54 million for the quarter, compared to the consensus estimate of $25.72 million. Research analysts predict that Amprius Technologies will post -0.07 EPS for the current fiscal year.

Insider Activity at Amprius Technologies

In related news, Director Kang Sun sold 67,796 shares of the business's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $14.79, for a total transaction of $1,002,702.84. Following the transaction, the director directly owned 1,280,854 shares in the company, valued at $18,943,830.66. The trade was a 5.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Thomas M. Stepien sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $20.97, for a total value of $41,940.00. Following the sale, the chief executive officer owned 625,625 shares in the company, valued at approximately $13,119,356.25. This represents a 0.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 310,144 shares of company stock valued at $5,049,997. Company insiders own 5.10% of the company's stock.

Institutional Trading of Amprius Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted 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 purchasing an additional 3,055 shares during the period. AQR Capital Management LLC raised its holdings in shares of Amprius Technologies by 86.7% in the 1st quarter. AQR Capital Management LLC now owns 77,764 shares of the company's stock worth $208,000 after buying an additional 36,116 shares in the last quarter. Millennium Management LLC raised its holdings 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 worth $3,741,000 after buying an additional 678,442 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Amprius Technologies by 128.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 244,646 shares of the company's stock worth $656,000 after buying an additional 137,640 shares during the period. Finally, Rhumbline Advisers boosted its stake in Amprius Technologies by 61.1% in the 1st quarter. Rhumbline Advisers now owns 15,690 shares of the company's stock valued at $42,000 after buying 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 NYSE: AMPX is a U.S.-based developer of high-energy-density lithium-ion batteries that leverage silicon anode technology to deliver performance levels beyond conventional graphite-based cells. The company's batteries are designed to offer industry-leading gravimetric energy density, enabling longer run times and reduced weight for portable power applications. Amprius blends advanced materials science and scalable manufacturing processes to commercialize next-generation battery solutions.

At the core of Amprius' product portfolio are cylindrical and prismatic cells that employ a proprietary silicon nanowire anode, which supports high charge/discharge rates while maintaining cycle life.

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