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

Amprius Technologies (NYSE:AMPX) had its price target lifted by Northland Securities from $4.00 to $10.00 in a research note published on Friday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

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

Amprius Technologies Stock Performance

Shares of NYSE AMPX opened at $3.58 on Friday. The company has a market cap of $378.90 million, a PE ratio of -7.96 and a beta of 2.42. The firm’s 50 day moving average price is $2.20 and its 200-day moving average price is $1.53. Amprius Technologies has a 52-week low of $0.61 and a 52-week high of $5.26.

Amprius Technologies (NYSE:AMPX) last issued its 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 business had revenue of $7.86 million for the quarter, compared to the consensus estimate of $7.70 million. During the same period last year, the business posted ($0.10) EPS. On average, analysts forecast that Amprius Technologies will post -0.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Amprius Technologies

In related news, insider Jonathan Bornstein sold 18,170 shares of Amprius Technologies stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $1.96, for a total transaction of $35,613.20. Following the transaction, the insider now directly owns 454,131 shares in the company, valued at approximately $890,096.76. The trade was a 3.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sandra Wallach sold 17,158 shares of the business’s 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 sale, the chief financial officer now directly owns 696,142 shares of the company’s stock, valued at $1,364,438.32. This represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,903 shares of company stock valued at $86,050. 12.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amprius Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Amprius Technologies by 50.9% during the third quarter. Geode Capital Management LLC now owns 548,138 shares of the company’s stock valued at $608,000 after purchasing an additional 184,863 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Amprius Technologies by 124.7% during the 3rd 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 during the period. AQR Capital Management LLC purchased a new position in shares of Amprius Technologies during the 2nd quarter valued at $99,000. XTX Topco Ltd bought a new position in Amprius Technologies in the 2nd quarter worth $72,000. Finally, JPMorgan Chase & Co. increased its stake in Amprius Technologies by 343.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 27,041 shares of the company’s stock worth $30,000 after buying an additional 20,939 shares in the last quarter. 5.04% of the stock is owned by hedge funds and other 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.