Amprius Technologies (NYSE:AMPX) Stock Price Expected to Rise, Northland Securities Analyst Says

Amprius Technologies (NYSE:AMPX) had its price objective lifted by Northland Securities from $4.00 to $10.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities analysts have also issued reports on AMPX. HC Wainwright reissued a “buy” rating and set a $10.00 price target on shares of Amprius Technologies in a research report on Monday, November 11th. Northland Capmk upgraded Amprius Technologies to a “strong-buy” rating in a research note on Wednesday, October 2nd. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $9.17.

Amprius Technologies Stock Performance

Shares of AMPX stock opened at $3.58 on Friday. The firm has a market capitalization of $378.90 million, a price-to-earnings ratio of -7.96 and a beta of 2.42. The stock’s 50-day simple moving average is $2.20 and its 200-day simple moving average is $1.52. Amprius Technologies has a fifty-two week low of $0.61 and a fifty-two week high of $5.26.

Amprius Technologies (NYSE:AMPX) last released its earnings results on Thursday, November 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.01. The firm had revenue of $7.86 million for the quarter, compared to the consensus estimate of $7.70 million. Amprius Technologies had a negative return on equity of 71.39% and a negative net margin of 245.92%. During the same period in the prior year, the firm earned ($0.10) EPS. As a group, equities analysts forecast that Amprius Technologies will post -0.44 earnings per share for the current year.

Insider Activity

In other news, insider Jonathan Bornstein sold 18,170 shares of Amprius Technologies stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $1.96, for a total value of $35,613.20. Following the sale, the insider now directly owns 454,131 shares of the company’s stock, valued at $890,096.76. The trade was a 3.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Sandra Wallach sold 17,158 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $1.96, for a total value of $33,629.68. Following the completion of the transaction, the chief financial officer now directly owns 696,142 shares of the company’s stock, valued at approximately $1,364,438.32. This represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,903 shares of company stock worth $86,050 in the last quarter. Corporate insiders own 12.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AMPX. B. Riley Wealth Advisors Inc. increased its holdings in shares of Amprius Technologies by 29.8% in the third quarter. B. Riley Wealth Advisors Inc. now owns 29,200 shares of the company’s stock valued at $31,000 after purchasing an additional 6,700 shares during the last quarter. State Street Corp increased its stake in shares of Amprius Technologies by 4.7% in the 3rd quarter. State Street Corp now owns 286,390 shares of the company’s stock worth $318,000 after acquiring an additional 12,900 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Amprius Technologies by 343.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 27,041 shares of the company’s stock worth $30,000 after acquiring an additional 20,939 shares during the period. XTX Topco Ltd acquired a new position in shares of Amprius Technologies during the 2nd quarter valued at about $72,000. Finally, AQR Capital Management LLC acquired a new stake in Amprius Technologies during the second quarter worth about $99,000. 5.04% of the stock is owned by hedge funds and other institutional investors.

Amprius Technologies Company 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.