B. Riley Financial Has Lowered Expectations for Amprius Technologies (NYSE:AMPX) Stock Price

Key Points

• B. Riley cut its Amprius price target to $16 from $22 but maintained a Buy rating, implying roughly 98% upside from the stock’s price at the time. Analysts’ consensus rating is Moderate Buy, with an average target of $20.50.
• Amprius reported quarterly revenue of $39.15 million, above estimates of $35.80 million, but its $0.02-per-share loss was slightly worse than analysts expected.
• The company plans U.S. pouch-cell production capacity of up to 12 million cells annually by early 2028, a potential growth opportunity dependent on demand and execution.

Amprius Technologies (NYSE:AMPX - Get Free Report) had its target price cut by B. Riley Financial from $22.00 to $16.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a "buy" rating on the stock. B. Riley Financial's price target indicates a potential upside of 98.46% from the stock's current price.

AMPX has been the subject of a number of other research reports. Needham & Company LLC cut their price objective on shares of Amprius Technologies from $20.00 to $15.00 and set a "buy" rating for the company in a research report on Wednesday. William Blair reaffirmed an "outperform" rating on shares of Amprius Technologies in a report on Friday, November 6th. National Bank Financial set a $18.00 price target on shares of Amprius Technologies in a research note on Tuesday, September 29th. Zacks Research raised shares of Amprius Technologies from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 4th. Finally, UBS Group reissued an "outperform" rating on shares of Amprius Technologies in a report on Friday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Amprius Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $20.50.

Amprius Technologies Price Performance

Amprius Technologies stock opened at $8.06 on Thursday. Amprius Technologies has a 12 month low of $7.02 and a 12 month high of $24.23. The business has a 50 day simple moving average of $9.06 and a 200-day simple moving average of $13.21. The stock has a market capitalization of $1.14 billion, a PE ratio of -28.85 and a beta of 2.36.

Amprius Technologies (NYSE:AMPX - Get Free Report) last issued its quarterly earnings results on Tuesday, November 10th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Amprius Technologies had a negative return on equity of 12.01% and a negative net margin of 29.94%. The company had revenue of $39.15 million for the quarter, compared to analyst estimates of $35.80 million. During the same period in the prior year, the business earned ($0.03) earnings per share. As a group, equities research analysts anticipate that Amprius Technologies will post -0.08 EPS for the current year.

Insider Activity at Amprius Technologies

In related news, CTO Constantin Stefan sold 29,681 shares of Amprius Technologies stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $10.34, for a total value of $306,901.54. Following the sale, the chief technology officer directly owned 771,629 shares in the company, valued at $7,978,643.86. The trade was a 3.70% decrease in their ownership of the stock. The transaction was disclosed in a filing 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, CEO Thomas Stepien sold 8,000 shares of the company's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $10.03, for a total value of $80,240.00. Following the transaction, the chief executive officer directly owned 594,096 shares in the company, valued at $5,958,782.88. This represents a 1.33% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 123,311 shares of company stock worth $1,272,556 over the last three months. 5.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amprius Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. TD Waterhouse Canada Inc. grew its stake in shares of Amprius Technologies by 355.6% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 2,105 shares of the company's stock worth $29,000 after purchasing an additional 1,643 shares during the period. Arizona State Retirement System increased its holdings in shares of Amprius Technologies by 5.4% in the 2nd quarter. Arizona State Retirement System now owns 34,027 shares of the company's stock valued at $472,000 after purchasing an additional 1,743 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in shares of Amprius Technologies by 4.5% in the third quarter. B. Riley Wealth Advisors Inc. now owns 50,285 shares of the company's stock valued at $487,000 after purchasing an additional 2,185 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of Amprius Technologies by 14.5% in the third quarter. Commonwealth Equity Services LLC now owns 21,809 shares of the company's stock valued at $211,000 after purchasing an additional 2,764 shares during the period. Finally, KBC Group NV purchased a new stake in Amprius Technologies during the first quarter worth about $57,000. Institutional investors and hedge funds own 5.04% of the company's stock.

Amprius Technologies News Roundup

Here's some of the latest news about AMPX:

• Positive Sentiment: The company plans to build U.S. pouch-cell capacity capable of producing 12 million cells annually by early 2028, which could support its growth ambitions if demand and execution materialize. Capacity and revenue outlook
• Neutral Sentiment: Needham lowered its price target from $20 to $15 but maintained a Buy rating. The reduced target reflects a less optimistic valuation, while the firm still sees potential upside from the cited $8.56 reference price. Needham analyst ratings
• Negative Sentiment: Quarterly EPS was a loss of $0.02, missing the $0.01-per-share loss analysts expected. Freight costs weighed on margins, and the earnings shortfall appears to have outweighed the revenue beat in the market’s reaction. Q3 earnings call transcript

About Amprius Technologies

Amprius Technologies, Inc. develops and manufactures lithium-ion batteries designed to provide high energy density and power. Its battery technology uses silicon-based anodes, an alternative to the graphite anodes commonly used in conventional lithium-ion cells. The company's products are designed for applications where low weight and high performance are important, including electric aviation, drones, aerospace, defense and other mobility markets. Amprius offers silicon-anode cells for customers developing these systems.

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