B. Riley Raises Amprius Technologies (NYSE:AMPX) Price Target to $6.00

Amprius Technologies (NYSE:AMPX) had its target price hoisted by stock analysts at B. Riley from $5.00 to $6.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley’s target price points to a potential upside of 93.24% from the company’s previous close.

Several other research firms also recently commented on AMPX. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Amprius Technologies in a report on Friday. Northland Securities increased their price target on shares of Amprius Technologies from $4.00 to $10.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Finally, Cantor Fitzgerald assumed coverage on shares of Amprius Technologies in a report on Tuesday, January 21st. They set an “overweight” rating and a $10.00 price target on the stock. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Amprius Technologies has a consensus rating of “Buy” and an average price target of $9.43.

Amprius Technologies Price Performance

AMPX stock opened at $3.11 on Friday. The firm’s fifty day simple moving average is $2.91 and its 200-day simple moving average is $2.13. The company has a market capitalization of $328.63 million, a P/E ratio of -6.90 and a beta of 2.56. Amprius Technologies has a 12 month low of $0.61 and a 12 month high of $4.21.

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

Insiders Place Their Bets

In other Amprius Technologies news, insider Jonathan Bornstein sold 13,527 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $3.13, for a total transaction of $42,339.51. Following the completion of the transaction, the insider now directly owns 419,197 shares in the company, valued at approximately $1,312,086.61. This represents a 3.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Constantin Ionel Stefan sold 9,066 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 transaction of $28,376.58. Following the transaction, the chief technology officer now owns 421,489 shares of the company’s stock, valued at $1,319,260.57. This represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,088 shares of company stock worth $235,025. Company insiders own 12.80% of the company’s stock.

Institutional Investors Weigh In On Amprius Technologies

A number of hedge funds have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. raised its position in shares of Amprius Technologies by 55.8% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 45,500 shares of the company’s stock valued at $127,000 after buying an additional 16,300 shares during the last quarter. Wolverine Trading LLC acquired a new stake in shares of Amprius Technologies in the fourth quarter valued at about $48,000. Two Sigma Advisers LP acquired a new stake in shares of Amprius Technologies in the fourth quarter valued at about $128,000. Two Sigma Investments LP raised its position in shares of Amprius Technologies by 323.1% in the fourth quarter. Two Sigma Investments LP now owns 443,311 shares of the company’s stock valued at $1,241,000 after buying an additional 338,524 shares during the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of Amprius Technologies in the fourth quarter valued at about $2,009,000. 5.04% of the stock is currently owned by institutional investors and hedge funds.

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.