HC Wainwright Forecasts Strong Price Appreciation for Amprius Technologies (NYSE:AMPX) Stock

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.

Amprius Technologies (NYSE:AMPX - Free Report) had its price objective lifted by HC Wainwright from $10.00 to $18.00 in a research note published on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

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

Amprius Technologies Trading Up 4.1%

Shares of NYSE AMPX traded up $0.32 during midday trading on Friday, hitting $8.04. The company's stock had a trading volume of 21,569,207 shares, compared to its average volume of 10,008,242. The business's 50 day moving average is $5.52 and its two-hundred day moving average is $3.65. Amprius Technologies has a 12-month low of $0.61 and a 12-month high of $9.66. The firm has a market cap of $948.16 million, a P/E ratio of -24.36 and a beta of 2.72.

Amprius Technologies (NYSE:AMPX - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. Amprius Technologies had a negative return on equity of 58.22% and a negative net margin of 84.77%. The firm had revenue of $15.07 million for the quarter, compared to the consensus estimate of $12.38 million. On average, analysts predict that Amprius Technologies will post -0.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Sandra Wallach sold 27,595 shares of the firm's stock in a transaction on 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 of the company's stock, valued at $2,511,805.95. This trade represents a 2.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Constantin Ionel Stefan sold 20,366 shares of the firm's stock in a transaction on Wednesday, May 21st. The stock was 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 directly owned 866,134 shares of the company's stock, valued at $2,104,705.62. The trade was a 2.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 117,747 shares of company stock worth $286,125 in the last 90 days. 12.90% of the stock is owned by corporate insiders.

Institutional Trading of Amprius Technologies

Institutional investors have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV acquired a new position in shares of Amprius Technologies in the fourth quarter valued at about $28,000. Bank of America Corp DE increased its holdings in shares of Amprius Technologies by 31.1% in the fourth quarter. Bank of America Corp DE now owns 12,890 shares of the company's stock valued at $36,000 after purchasing an additional 3,055 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Amprius Technologies in the first quarter valued at about $40,000. Cornerstone Partners Capital Management LLC acquired a new position in shares of Amprius Technologies in the first quarter valued at about $41,000. Finally, Rhumbline Advisers increased its holdings in shares of Amprius Technologies by 61.1% in the first quarter. Rhumbline Advisers now owns 15,690 shares of the company's stock valued at $42,000 after purchasing an additional 5,951 shares during the period. 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.