Amprius Technologies (NYSE:AMPX) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

Key Points

• Cantor Fitzgerald raised its price target for Amprius Technologies from $10.00 to $12.00, indicating a potential upside of 46.79% from the current price.
• Several analysts issued positive ratings, with a consensus target price of $11.71 and eight analysts rating the stock as a "buy."
• In its latest earnings report, Amprius Technologies posted an EPS of ($0.05), beating estimates, and reported revenue of $15.07 million, exceeding analyst expectations.

Amprius Technologies (NYSE:AMPX - Free Report) had its price objective hoisted by Cantor Fitzgerald from $10.00 to $12.00 in a research report report published on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms also recently commented on AMPX. Roth Capital reiterated a "buy" rating and set a $10.00 target price (up from $6.00) on shares of Amprius Technologies in a research report on Tuesday, August 5th. William Blair raised shares of Amprius Technologies from a "market perform" rating to an "outperform" rating in a report on Friday, July 18th. B. Riley upped their price objective on Amprius Technologies from $10.00 to $11.00 and gave the company a "buy" rating in a research report on Friday. Finally, HC Wainwright restated a "buy" rating and issued a $18.00 price objective (up from $10.00) on shares of Amprius Technologies in a research report on Friday. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $11.71.

Amprius Technologies Price Performance

Shares of NYSE:AMPX traded down $0.38 during trading on Friday, reaching $7.69. The company had a trading volume of 10,472,630 shares, compared to its average volume of 5,063,119. The firm has a market capitalization of $906.27 million, a price-to-earnings ratio of -23.29 and a beta of 2.72. The stock's fifty day moving average price is $5.52 and its 200 day moving average price is $3.66. Amprius Technologies has a fifty-two week low of $0.61 and a fifty-two week high of $9.66.

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 analysts' consensus estimates of ($0.08) by $0.03. Amprius Technologies had a negative return on equity of 55.79% and a negative net margin of 84.77%. The firm had revenue of $15.07 million for the quarter, compared to analyst estimates of $12.38 million. On average, equities analysts anticipate that Amprius Technologies will post -0.45 EPS for the current fiscal year.

Insider Transactions at Amprius Technologies

In other news, CFO Sandra Wallach sold 27,595 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $2.43, for a total value of $67,055.85. Following the completion of the sale, the chief financial officer owned 1,033,665 shares in the company, valued at approximately $2,511,805.95. This trade represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Constantin Ionel Stefan sold 20,366 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $2.43, for a total value of $49,489.38. Following the completion of the sale, the chief technology officer owned 866,134 shares of the company's stock, valued at approximately $2,104,705.62. This trade represents a 2.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 117,747 shares of company stock worth $286,125 in the last three months. 12.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amprius Technologies

Hedge funds have recently bought and sold shares of the business. Oppenheimer & Co. Inc. grew its stake in Amprius Technologies by 319.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 491,378 shares of the company's stock valued at $1,317,000 after purchasing an additional 374,228 shares in the last quarter. Jane Street Group LLC acquired a new position in Amprius Technologies during the 4th quarter valued at approximately $724,000. Two Sigma Advisers LP bought a new stake in Amprius Technologies during the 4th quarter valued at $128,000. Geode Capital Management LLC raised its stake in Amprius Technologies by 6.0% during the 4th quarter. Geode Capital Management LLC now owns 580,819 shares of the company's stock valued at $1,626,000 after acquiring an additional 32,681 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Amprius Technologies by 5,740.5% during the 4th quarter. Renaissance Technologies LLC now owns 765,100 shares of the company's stock valued at $2,142,000 after acquiring an additional 752,000 shares in the last quarter. Institutional investors and hedge funds own 5.04% of the company's stock.

About Amprius Technologies

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.