Amprius Technologies (NYSE:AMPX) Raised to Strong-Buy at Canaccord Genuity Group

Amprius Technologies (NYSE:AMPX) was upgraded by analysts at Canaccord Genuity Group to a “strong-buy” rating in a note issued to investors on Wednesday, Zacks reports.

A number of other brokerages have also issued reports on AMPX. National Bank Financial set a $18.00 target price on shares of Amprius Technologies in a research note on Tuesday, September 29th. HC Wainwright restated a “buy” rating and set a $18.00 price target on shares of Amprius Technologies in a report on Tuesday, September 29th. JonesTrading initiated coverage on shares of Amprius Technologies in a research note on Friday, July 10th. They issued a “buy” rating and a $30.00 price target on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Amprius Technologies in a report on Friday, July 17th. Finally, Zacks Research upgraded Amprius Technologies from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Amprius Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.42.

Amprius Technologies Stock Down 6.4%

Shares of AMPX opened at $8.01 on Wednesday. The company’s 50 day moving average price is $10.02 and its 200 day moving average price is $13.72. Amprius Technologies has a 52 week low of $7.71 and a 52 week high of $24.23.

Insiders Place Their Bets

In other Amprius Technologies news, CEO Thomas Stepien sold 8,000 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $10.03, for a total value of $80,240.00. Following the completion of the sale, the chief executive officer owned 594,096 shares of the company’s stock, valued at $5,958,782.88. The trade was a 1.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kang Sun sold 62,101 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $10.34, for a total value of $642,124.34. Following the sale, the director owned 1,218,397 shares of the company’s stock, valued at approximately $12,598,224.98. This trade represents a 4.85% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 123,311 shares of company stock valued at $1,272,556 over the last quarter. Insiders own 5.10% of the company’s stock.

Institutional Investors Weigh In On Amprius Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP bought a new stake in Amprius Technologies during the second quarter worth approximately $4,751,000. Calamos Advisors LLC grew its holdings in Amprius Technologies by 206.2% during the first quarter. Calamos Advisors LLC now owns 364,506 shares of the company’s stock valued at $6,146,000 after purchasing an additional 245,473 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Amprius Technologies during the first quarter valued at approximately $2,769,000. SG Americas Securities LLC raised its position in shares of Amprius Technologies by 65.7% in the first quarter. SG Americas Securities LLC now owns 423,037 shares of the company’s stock valued at $7,132,000 after purchasing an additional 167,785 shares during the period. Finally, Sei Investments Co. raised its position in shares of Amprius Technologies by 34.1% in the first quarter. Sei Investments Co. now owns 579,161 shares of the company’s stock valued at $9,765,000 after purchasing an additional 147,375 shares during the period. 5.04% of the stock is currently owned by institutional investors and hedge funds.

About Amprius Technologies

Amprius Technologies, Inc develops and manufactures high-performance lithium-ion batteries using silicon nanowire anode technology. Its batteries are designed to provide greater energy density and power than conventional graphite-anode cells, supporting longer operating times and reduced weight for battery-powered systems.

The company’s products are intended for demanding applications including aerospace, defense, electric aviation, drones, high-altitude platforms, electric vehicles and other electric mobility systems.