Northland Securities Boosts Amprius Technologies (NYSE:AMPX) Price Target to $10.00

Amprius Technologies (NYSE:AMPX) had its price objective boosted by investment analysts at Northland Securities from $4.00 to $10.00 in a report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Northland Securities’ price target would suggest a potential upside of 232.23% from the stock’s previous close.

Several other research analysts also recently commented on AMPX. Northland Capmk upgraded shares of Amprius Technologies to a “strong-buy” rating in a report on Wednesday, October 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price target on shares of Amprius Technologies in a research report on Monday, November 11th. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $9.17.

Amprius Technologies Stock Performance

Shares of NYSE AMPX opened at $3.01 on Friday. The business’s 50-day simple moving average is $2.15 and its 200-day simple moving average is $1.51. Amprius Technologies has a 52 week low of $0.61 and a 52 week high of $5.26. The firm has a market cap of $318.58 million, a price-to-earnings ratio of -6.69 and a beta of 2.42.

Amprius Technologies (NYSE:AMPX) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate 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 $7.86 million for the quarter, compared to the consensus estimate of $7.70 million. During the same quarter last year, the company posted ($0.10) earnings per share. As a group, equities research analysts forecast that Amprius Technologies will post -0.44 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Sandra Wallach sold 17,158 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $1.96, for a total value of $33,629.68. Following the completion of the sale, the chief financial officer now owns 696,142 shares in the company, valued at approximately $1,364,438.32. This trade represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jonathan Bornstein sold 18,170 shares of Amprius Technologies stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $1.96, for a total value of $35,613.20. Following the sale, the insider now directly owns 454,131 shares in the company, valued at approximately $890,096.76. This trade represents a 3.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,903 shares of company stock worth $86,050 in the last ninety days. Insiders own 12.80% of the company’s stock.

Institutional Trading of Amprius Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC lifted its position in Amprius Technologies by 50.9% in the third quarter. Geode Capital Management LLC now owns 548,138 shares of the company’s stock worth $608,000 after purchasing an additional 184,863 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Amprius Technologies by 124.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 274,047 shares of the company’s stock valued at $304,000 after buying an additional 152,102 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of Amprius Technologies during the 2nd quarter worth about $99,000. XTX Topco Ltd acquired a new stake in shares of Amprius Technologies during the 2nd quarter valued at about $72,000. Finally, JPMorgan Chase & Co. increased its stake in Amprius Technologies by 343.1% in the third quarter. JPMorgan Chase & Co. now owns 27,041 shares of the company’s stock valued at $30,000 after acquiring an additional 20,939 shares during the period. 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.