Amprius Technologies (NYSE:AMPX) Earns Buy Rating from Analysts at Needham & Company LLC

Equities researchers at Needham & Company LLC assumed coverage on shares of Amprius Technologies (NYSE:AMPX) in a research report issued on Thursday, Marketbeat.com reports. The brokerage set a “buy” rating and a $20.00 price target on the stock. Needham & Company LLC’s target price would suggest a potential upside of 46.95% from the company’s previous close.

A number of other research analysts have also recently commented on AMPX. Oppenheimer restated an “outperform” rating and issued a $17.00 target price on shares of Amprius Technologies in a research note on Tuesday, December 23rd. Northland Securities set a $20.00 price objective on Amprius Technologies in a research report on Tuesday, October 7th. Roth Mkm set a $14.00 target price on shares of Amprius Technologies and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Cantor Fitzgerald increased their price target 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. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Amprius Technologies in a research note on Wednesday, January 21st. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.57.

Amprius Technologies Trading Up 13.6%

Shares of Amprius Technologies stock opened at $13.61 on Thursday. The company’s fifty day simple moving average is $10.23 and its two-hundred day simple moving average is $9.98. Amprius Technologies has a 12-month low of $1.70 and a 12-month high of $16.03. The company has a market cap of $1.78 billion, a P/E ratio of -52.35 and a beta of 3.04.

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 analysts’ consensus estimates of ($0.06) by $0.03. The company had revenue of $21.43 million during the quarter, compared to the consensus estimate of $16.45 million. Amprius Technologies had a negative net margin of 53.16% and a negative return on equity of 38.85%. Analysts predict that Amprius Technologies will post -0.45 EPS for the current fiscal year.

Insider Activity

In other Amprius Technologies news, CEO Kang Sun sold 1,000,000 shares of Amprius Technologies stock in a transaction dated Monday, November 17th. The shares were 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 directly owned 1,472,306 shares of the company’s stock, valued at approximately $15,606,443.60. The trade was a 40.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Constantin Ionel Stefan sold 492,827 shares of the stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $12.04, for a total transaction of $5,933,637.08. Following the sale, the chief technology officer owned 748,696 shares in the company, valued at approximately $9,014,299.84. The trade was a 39.70% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 3,359,641 shares of company stock valued at $36,572,335. 12.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Amprius Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stephens Investment Management Group LLC bought a new stake in shares of Amprius Technologies in the 3rd quarter worth $11,392,000. Bessemer Group Inc. bought a new position in Amprius Technologies during the 2nd quarter valued at about $174,000. Baird Financial Group Inc. grew its stake in shares of Amprius Technologies by 99.9% in the second quarter. Baird Financial Group Inc. now owns 1,000,711 shares of the company’s stock worth $4,213,000 after acquiring an additional 500,212 shares during the period. Calamos Advisors LLC purchased a new position in shares of Amprius Technologies during the third quarter valued at approximately $1,799,000. Finally, Huntleigh Advisors Inc. bought a new position in Amprius Technologies during the second quarter valued at approximately $614,000. 5.04% of the stock is owned by institutional investors.

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.