Oppenheimer Forecasts Strong Price Appreciation for Amprius Technologies (NYSE:AMPX) Stock

Amprius Technologies (NYSE:AMPX) had its target price increased by Oppenheimer from $14.00 to $15.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target would indicate a potential upside of 464.97% from the stock’s previous close.

A number of other research analysts also recently commented on the stock. B. Riley lifted their price objective on shares of Amprius Technologies from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Friday. Cantor Fitzgerald initiated coverage on Amprius Technologies in a research note on Tuesday, January 21st. They set an “overweight” rating and a $10.00 target price for the company. Northland Securities raised their price target on Amprius Technologies from $4.00 to $10.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of Amprius Technologies in a research report on Friday. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $9.43.

Amprius Technologies Stock Performance

NYSE AMPX traded up $0.35 during trading hours on Friday, hitting $2.66. 3,094,256 shares of the company traded hands, compared to its average volume of 1,939,780. The business’s 50-day moving average is $2.92 and its 200-day moving average is $2.10. The stock has a market capitalization of $281.00 million, a price-to-earnings ratio of -5.88 and a beta of 2.56. Amprius Technologies has a twelve month low of $0.61 and a twelve month high of $4.21.

Amprius Technologies (NYSE:AMPX) last announced its quarterly earnings data on Thursday, March 20th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. Amprius Technologies had a negative return on equity of 71.39% and a negative net margin of 245.92%. The company had revenue of $10.63 million for the quarter, compared to analysts’ expectations of $7.12 million. Analysts predict that Amprius Technologies will post -0.45 EPS for the current year.

Insider Activity at Amprius Technologies

In other Amprius Technologies news, CFO Sandra Wallach sold 18,142 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $3.13, for a total transaction of $56,784.46. Following the transaction, the chief financial officer now owns 678,000 shares in the company, valued at $2,122,140. This represents a 2.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $107,524.89. Following the completion of the sale, the chief executive officer now owns 1,282,621 shares of the company’s stock, valued at approximately $4,014,603.73. The trade was a 2.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,088 shares of company stock worth $235,025. Corporate insiders own 12.80% of the company’s stock.

Institutional Trading of Amprius Technologies

Institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its stake in Amprius Technologies by 124.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 274,047 shares of the company’s stock valued at $304,000 after purchasing an additional 152,102 shares in the last quarter. State Street Corp boosted its position in shares of Amprius Technologies by 4.7% during 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 in the last quarter. Geode Capital Management LLC increased its stake in Amprius Technologies by 50.9% in the third quarter. Geode Capital Management LLC now owns 548,138 shares of the company’s stock valued at $608,000 after acquiring an additional 184,863 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its position in Amprius Technologies by 29.8% during 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 in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Amprius Technologies by 343.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 27,041 shares of the company’s stock valued at $30,000 after purchasing an additional 20,939 shares in the last quarter. 5.04% of the stock is currently owned by 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.