Amprius Technologies' (AMPX) Buy Rating Reaffirmed at HC Wainwright

Key Points

• HC Wainwright has increased the price target for Amprius Technologies from $10.00 to $18.00, suggesting a potential upside of 107.47% from its previous close.
• Amprius Technologies reported unexpected positive earnings, with an EPS of ($0.05) compared to the consensus estimate of ($0.08), alongside revenue of $15.07 million.
• Insider trading activity has been noted, with CTO Constantin Ionel Stefan and CEO Kang Sun both selling shares recently, leading to a decrease in their ownership positions.

HC Wainwright reiterated their buy rating on shares of Amprius Technologies (NYSE:AMPX - Free Report) in a research report report published on Friday, MarketBeat.com reports. They currently have a $18.00 price target on the stock, up from their previous price target of $10.00.

Several other equities analysts also recently weighed in on the company. B. Riley 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 Thursday, July 10th. Roth Capital reissued a "buy" rating and issued a $10.00 price objective (up from $6.00) on shares of Amprius Technologies in a report on Tuesday, August 5th. Finally, William Blair upgraded Amprius Technologies from a "market perform" rating to an "outperform" rating in a research note on Friday, July 18th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Amprius Technologies has an average rating of "Buy" and an average price target of $11.71.

Amprius Technologies Price Performance

NYSE AMPX traded down $0.25 during trading on Friday, hitting $7.81. The company's stock had a trading volume of 7,552,061 shares, compared to its average volume of 5,042,838. The company has a market cap of $920.66 million, a PE ratio of -23.68 and a beta of 2.72. Amprius Technologies has a fifty-two week low of $0.61 and a fifty-two week high of $9.66. The business's 50 day simple moving average is $5.52 and its 200-day simple moving average is $3.66.

Amprius Technologies (NYSE:AMPX - Get Free Report) last posted its quarterly 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 firm had revenue of $15.07 million for 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%. Analysts expect that Amprius Technologies will post -0.45 EPS for the current fiscal year.

Insider Transactions at Amprius Technologies

In related news, CEO Kang Sun sold 69,786 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $2.43, for a total transaction of $169,579.98. Following the transaction, the chief executive officer owned 1,812,235 shares of the company's stock, valued at approximately $4,403,731.05. This trade represents a 3.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sandra Wallach sold 27,595 shares of the business's 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 directly owned 1,033,665 shares of the company's stock, valued at $2,511,805.95. This represents a 2.60% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 117,747 shares of company stock valued at $286,125. 12.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Invesco Ltd. boosted its stake in shares of Amprius Technologies by 56.5% in the 4th quarter. Invesco Ltd. now owns 2,484,662 shares of the company's stock valued at $6,957,000 after purchasing an additional 897,222 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Amprius Technologies by 167.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,593,607 shares of the company's stock valued at $6,710,000 after purchasing an additional 998,649 shares in the last quarter. Board of Trustees of The Leland Stanford Junior University bought a new stake in Amprius Technologies during the 4th quarter worth approximately $4,081,000. Millennium Management LLC grew its position in Amprius Technologies by 94.5% during the 1st quarter. Millennium Management LLC now owns 1,396,013 shares of the company's stock worth $3,741,000 after acquiring an additional 678,442 shares during the last quarter. Finally, Essex Investment Management Co. LLC bought a new stake in Amprius Technologies during the 1st quarter worth approximately $2,508,000. 5.04% of the stock is currently owned by institutional investors and hedge funds.

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.