Brokerages Set Amprius Technologies, Inc. (NYSE:AMPX) PT at $16.57

Shares of Amprius Technologies, Inc. (NYSE:AMPX) have been given an average recommendation of “Moderate Buy” by the eight brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and seven have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $16.5714.

Several research analysts recently weighed in on AMPX shares. Weiss Ratings restated a “sell (e+)” rating on shares of Amprius Technologies in a research note on Wednesday, January 21st. Needham & Company LLC initiated coverage on Amprius Technologies in a report on Thursday. They issued a “buy” rating and a $20.00 price target for the company. Oppenheimer restated an “outperform” rating and set a $17.00 price target on shares of Amprius Technologies in a research note on Tuesday, December 23rd. Northland Securities set a $20.00 price objective on shares of Amprius Technologies in a report on Tuesday, October 7th. Finally, Cantor Fitzgerald lifted their target price on shares of Amprius Technologies from $12.00 to $16.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th.

Amprius Technologies Stock Up 5.7%

NYSE:AMPX opened at $13.15 on Friday. Amprius Technologies has a 52 week low of $1.70 and a 52 week high of $16.03. The firm has a 50 day moving average of $10.32 and a 200 day moving average of $10.09. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of -50.56 and a beta of 2.98.

Amprius Technologies (NYSE:AMPX) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.03. The business had revenue of $21.43 million for the quarter, compared to analyst estimates of $16.45 million. Amprius Technologies had a negative net margin of 53.16% and a negative return on equity of 38.85%. As a group, analysts expect that Amprius Technologies will post -0.45 EPS for the current year.

Insiders Place Their Bets

In related news, CTO Constantin Ionel Stefan sold 492,827 shares of the company’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $12.04, for a total value of $5,933,637.08. Following the transaction, the chief technology officer directly owned 748,696 shares of the company’s stock, valued at $9,014,299.84. This represents a 39.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kang Sun sold 1,000,000 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $10.60, for a total value of $10,600,000.00. Following the completion of the transaction, the chief executive officer owned 1,472,306 shares of the company’s stock, valued at $15,606,443.60. This trade represents a 40.45% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 3,399,331 shares of company stock valued at $37,048,615. Corporate insiders own 12.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AMPX. Bank of America Corp DE lifted its holdings in shares of Amprius Technologies by 31.1% during the fourth quarter. Bank of America Corp DE now owns 12,890 shares of the company’s stock worth $36,000 after purchasing an additional 3,055 shares during the period. Ameritas Investment Partners Inc. increased its holdings in Amprius Technologies by 2,043.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,516 shares of the company’s stock worth $40,000 after buying an additional 9,072 shares during the period. Quarry LP purchased a new position in Amprius Technologies during the 3rd quarter worth approximately $42,000. Rhumbline Advisers lifted its stake in Amprius Technologies by 61.1% during the 1st quarter. Rhumbline Advisers now owns 15,690 shares of the company’s stock valued at $42,000 after acquiring an additional 5,951 shares during the period. Finally, Legal & General Group Plc lifted its stake in Amprius Technologies by 1,385.4% during the 2nd quarter. Legal & General Group Plc now owns 10,383 shares of the company’s stock valued at $44,000 after acquiring an additional 9,684 shares during the period. 5.04% of the stock is owned by institutional investors and hedge funds.

Amprius Technologies Company Profile

Amprius Technologies, Inc (NYSE: AMPX) is a U.S.-based developer of high-energy-density lithium-ion batteries that leverage silicon anode technology to deliver performance levels beyond conventional graphite-based cells. The company’s batteries are designed to offer industry-leading gravimetric energy density, enabling longer run times and reduced weight for portable power applications. Amprius blends advanced materials science and scalable manufacturing processes to commercialize next-generation battery solutions.

At the core of Amprius’ product portfolio are cylindrical and prismatic cells that employ a proprietary silicon nanowire anode, which supports high charge/discharge rates while maintaining cycle life.