Oppenheimer Issues Positive Forecast for Amprius Technologies (NYSE:AMPX) Stock Price

Amprius Technologies (NYSE:AMPX - Get Free Report) had its price target upped by stock analysts at Oppenheimer from $14.00 to $15.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Oppenheimer's price target would suggest a potential upside of 354.55% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the company. B. Riley boosted their price objective on Amprius Technologies from $5.00 to $6.00 and gave the stock a "buy" rating in a report on Friday. Northland Securities boosted their price target on Amprius Technologies from $4.00 to $10.00 and gave the company an "outperform" rating in a research note on Friday, January 10th. Cantor Fitzgerald assumed coverage on Amprius Technologies in a report on Tuesday, January 21st. They issued an "overweight" rating and a $10.00 price objective on the stock. Finally, HC Wainwright reissued a "buy" rating and set a $10.00 target price on shares of Amprius Technologies in a report on Friday. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $9.43.

Amprius Technologies Price Performance

Shares of AMPX stock remained flat at $3.30 during trading on Friday. The company had a trading volume of 6,376,218 shares, compared to its average volume of 2,014,421. Amprius Technologies has a 1-year low of $0.61 and a 1-year high of $4.21. The business has a fifty day moving average price of $2.91 and a two-hundred day moving average price of $2.17. The stock has a market capitalization of $349.27 million, a PE ratio of -7.33 and a beta of 2.56.

Remove Ads

Amprius Technologies (NYSE:AMPX - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.01. The company had revenue of $10.63 million for the quarter, compared to analyst estimates of $7.12 million. Amprius Technologies had a negative net margin of 245.92% and a negative return on equity of 71.39%. Sell-side analysts anticipate that Amprius Technologies will post -0.45 EPS for the current fiscal year.

Insider Activity

In related news, CEO Kang Sun sold 34,353 shares of Amprius Technologies stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $3.13, for a total value of $107,524.89. Following the transaction, the chief executive officer now directly owns 1,282,621 shares of the company's stock, valued at $4,014,603.73. This trade represents a 2.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jonathan Bornstein sold 13,527 shares of the company's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $3.13, for a total value of $42,339.51. Following the sale, the insider now owns 419,197 shares of the company's stock, valued at $1,312,086.61. The trade was a 3.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 75,088 shares of company stock worth $235,025. 12.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amprius Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers boosted its stake in Amprius Technologies by 49.4% in the fourth quarter. Rhumbline Advisers now owns 9,739 shares of the company's stock valued at $27,000 after buying an additional 3,222 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of Amprius Technologies in the fourth quarter worth about $28,000. Kingswood Wealth Advisors LLC acquired a new stake in shares of Amprius Technologies in the 4th quarter valued at approximately $30,000. O Dell Group LLC bought a new stake in shares of Amprius Technologies during the 4th quarter valued at approximately $35,000. Finally, Bank of America Corp DE grew its holdings in shares of Amprius Technologies by 31.1% during the 4th 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 last quarter. Institutional investors 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.