Amprius Technologies (NYSE:AMPX) Now Covered by Analysts at Canaccord Genuity Group

Key Points

• Canaccord Genuity initiated coverage of Amprius Technologies with a Buy rating and a $14 price target, implying 88.43% upside. The stock has a consensus “Moderate Buy” rating and an average target of $21.42.
• Amprius shares fell 7.1% to $7.43, near their 12-month low of $7.40, with the stock trading well below its 50-day and 200-day moving averages.
• Insiders sold 123,311 shares worth approximately $1.27 million over the past quarter, while institutional investors and hedge funds own about 5.04% of the company.

Equities research analysts at Canaccord Genuity Group initiated coverage on shares of Amprius Technologies (NYSE:AMPX - Get Free Report) in a research note issued on Wednesday, Marketbeat.com reports. The brokerage set a "buy" rating and a $14.00 price target on the stock. Canaccord Genuity Group's target price suggests a potential upside of 88.43% from the company's current price.

A number of other brokerages also recently weighed in on AMPX. National Bank Financial set a $18.00 price objective on Amprius Technologies in a research note on Tuesday, September 29th. JonesTrading started coverage on Amprius Technologies in a report on Friday, July 10th. They issued a "buy" rating and a $30.00 target price for the company. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Amprius Technologies in a research report on Friday, July 17th. HC Wainwright reiterated a "buy" rating and set a $18.00 price target on shares of Amprius Technologies in a report on Tuesday, September 29th. Finally, Zacks Research raised shares of Amprius Technologies from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $21.42.

Amprius Technologies Trading Down 7.1%

NYSE AMPX traded down $0.57 during trading on Wednesday, hitting $7.43. 1,040,884 shares of the company traded hands, compared to its average volume of 7,624,659. The company has a market capitalization of $1.05 billion, a P/E ratio of -25.31 and a beta of 2.33. The business has a fifty day simple moving average of $10.02 and a 200 day simple moving average of $13.72. Amprius Technologies has a 12 month low of $7.40 and a 12 month high of $24.23.

Insider Transactions at Amprius Technologies

In related news, Director Kang Sun sold 62,101 shares of the company's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $10.34, for a total transaction of $642,124.34. Following the completion of the transaction, the director directly owned 1,218,397 shares in the company, valued at $12,598,224.98. This represents a 4.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Constantin Stefan sold 29,681 shares of the company's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $10.34, for a total transaction of $306,901.54. Following the transaction, the chief technology officer directly owned 771,629 shares of the company's stock, valued at $7,978,643.86. This represents a 3.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 123,311 shares of company stock worth $1,272,556. Insiders own 5.10% of the company's stock.

Institutional Trading of Amprius Technologies

Institutional investors have recently made changes to their positions in the business. B. Riley Wealth Advisors Inc. raised its stake in Amprius Technologies by 4.5% during the third quarter. B. Riley Wealth Advisors Inc. now owns 50,285 shares of the company's stock worth $487,000 after acquiring an additional 2,185 shares in the last quarter. Bouvel Investment Partners LLC lifted its holdings in shares of Amprius Technologies by 89.0% during the third quarter. Bouvel Investment Partners LLC now owns 187,681 shares of the company's stock valued at $1,817,000 after acquiring an additional 88,373 shares during the period. Tidal Investments LLC lifted its holdings in shares of Amprius Technologies by 50.1% during the second quarter. Tidal Investments LLC now owns 30,975 shares of the company's stock valued at $429,000 after acquiring an additional 10,343 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Amprius Technologies in the 2nd quarter valued at $92,000. Finally, Allworth Financial LP boosted its stake in shares of Amprius Technologies by 1,150.6% in the 2nd quarter. Allworth Financial LP now owns 4,527 shares of the company's stock valued at $63,000 after purchasing an additional 4,165 shares in the last quarter. 5.04% of the stock is currently owned by institutional investors and hedge funds.

Amprius Technologies Company Profile

Amprius Technologies, Inc develops and manufactures high-performance lithium-ion batteries using silicon nanowire anode technology. Its batteries are designed to provide greater energy density and power than conventional graphite-anode cells, supporting longer operating times and reduced weight for battery-powered systems.

The company's products are intended for demanding applications including aerospace, defense, electric aviation, drones, high-altitude platforms, electric vehicles and other electric mobility systems.