Baird Financial Group Inc. Makes New $1.34 Million Investment in Amprius Technologies, Inc. $AMPX

Key Points

• Baird Financial Group Inc. acquired 500,499 shares of Amprius Technologies, valued at approximately $1.34 million, representing 0.42% of the company as of the latest SEC filing.
• Several institutional investors, including Bank of America and Rhumbline Advisers, have increased their positions in Amprius Technologies, indicating growing interest in the company.
• Analyst ratings for Amprius Technologies have improved significantly, with price targets being raised to as high as $18.00, reflecting confidence in the company’s growth prospects.

Baird Financial Group Inc. purchased a new position in Amprius Technologies, Inc. (NYSE:AMPX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 500,499 shares of the company's stock, valued at approximately $1,341,000. Baird Financial Group Inc. owned 0.42% of Amprius Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Oppenheimer & Co. Inc. increased its holdings in shares of Amprius Technologies by 319.4% in the first quarter. Oppenheimer & Co. Inc. now owns 491,378 shares of the company's stock worth $1,317,000 after purchasing an additional 374,228 shares during the period. Jane Street Group LLC bought a new position in Amprius Technologies in the fourth quarter valued at $724,000. Jump Financial LLC bought a new position in Amprius Technologies in the first quarter valued at $174,000. Two Sigma Advisers LP bought a new position in Amprius Technologies in the fourth quarter valued at $128,000. Finally, Essex Investment Management Co. LLC bought a new position in Amprius Technologies in the first quarter valued at $2,508,000. Institutional investors own 5.04% of the company's stock.

Amprius Technologies Trading Down 0.5%

Shares of NYSE:AMPX traded down $0.04 on Friday, reaching $8.10. 6,022,637 shares of the company traded hands, compared to its average volume of 5,731,544. The business's 50-day simple moving average is $7.37 and its 200 day simple moving average is $4.36. Amprius Technologies, Inc. has a 52 week low of $0.81 and a 52 week high of $9.66. The stock has a market capitalization of $1.01 billion, a P/E ratio of -24.55 and a beta of 2.72.

Amprius Technologies (NYSE:AMPX - Get Free Report) last posted its earnings results 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. The company had revenue of $15.07 million during the quarter, compared to analyst estimates of $12.38 million. Amprius Technologies had a negative net margin of 84.77% and a negative return on equity of 55.79%. Sell-side analysts expect that Amprius Technologies, Inc. will post -0.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. 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, August 8th. Cantor Fitzgerald increased their target price on Amprius Technologies from $10.00 to $12.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. B. Riley increased their target price on Amprius Technologies from $10.00 to $11.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Roth Capital reissued a "buy" rating and issued a $10.00 target price (up previously from $6.00) on shares of Amprius Technologies in a research note on Tuesday, August 5th. Finally, William Blair raised Amprius Technologies from a "market perform" rating to an "outperform" rating in a research note on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. According to MarketBeat.com, Amprius Technologies currently has an average rating of "Buy" and an average price target of $11.71.

Insider Transactions at Amprius Technologies

In other news, CTO Constantin Ionel Stefan sold 19,159 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $6.82, for a total transaction of $130,664.38. Following the completion of the sale, the chief technology officer directly owned 846,975 shares in the company, valued at approximately $5,776,369.50. This represents a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sandra Wallach sold 28,390 shares of the stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $6.82, for a total transaction of $193,619.80. Following the sale, the chief financial officer owned 1,005,275 shares of the company's stock, valued at approximately $6,855,975.50. This represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,203 shares of company stock worth $772,044. Company insiders own 12.90% of the company's stock.

Amprius Technologies 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.