Amprius Technologies’ (AMPX) “Buy” Rating Reiterated at HC Wainwright

Amprius Technologies (NYSE:AMPX)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $10.00 price objective on the stock. HC Wainwright’s target price would indicate a potential upside of 329.18% from the company’s previous close.

AMPX has been the topic of several other research reports. Northland Securities increased their price objective on Amprius Technologies from $4.00 to $10.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Cantor Fitzgerald initiated coverage on Amprius Technologies in a report on Tuesday, January 21st. They set an “overweight” rating and a $10.00 target price for the company. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $9.29.

Amprius Technologies Price Performance

Shares of AMPX stock opened at $2.33 on Friday. Amprius Technologies has a 1 year low of $0.61 and a 1 year high of $4.21. The stock’s 50 day simple moving average is $2.92 and its two-hundred day simple moving average is $2.10. The company has a market cap of $246.60 million, a PE ratio of -5.18 and a beta of 2.56.

Amprius Technologies (NYSE:AMPX) last released its earnings results on Thursday, March 20th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The firm had revenue of $10.63 million for the quarter, compared to analysts’ expectations of $7.12 million. Amprius Technologies had a negative return on equity of 71.39% and a negative net margin of 245.92%. Equities research analysts expect that Amprius Technologies will post -0.45 EPS for the current year.

Insider Buying and Selling

In other news, CFO Sandra Wallach sold 18,142 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $3.13, for a total transaction of $56,784.46. Following the sale, the chief financial officer now directly owns 678,000 shares in the company, valued at $2,122,140. This trade represents a 2.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Constantin Ionel Stefan sold 9,066 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $3.13, for a total value of $28,376.58. Following the sale, the chief technology officer now owns 421,489 shares in the company, valued at $1,319,260.57. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,088 shares of company stock worth $235,025 in the last 90 days. Insiders own 12.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE lifted its stake in Amprius Technologies by 31.1% in the 4th quarter. Bank of America Corp DE now owns 12,890 shares of the company’s stock valued at $36,000 after buying an additional 3,055 shares in the last quarter. Rhumbline Advisers lifted its stake in Amprius Technologies by 49.4% in the 4th 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. B. Riley Wealth Advisors Inc. lifted its stake in Amprius Technologies by 29.8% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 29,200 shares of the company’s stock valued at $31,000 after buying an additional 6,700 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Amprius Technologies in the 4th quarter valued at about $28,000. Finally, Kingswood Wealth Advisors LLC purchased a new position in Amprius Technologies in the 4th quarter valued at about $30,000. 5.04% of the stock is owned by hedge funds and other institutional investors.

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.