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

Amprius Technologies (NYSE:AMPX) had its price objective lifted by stock analysts at Northland Securities from $4.00 to $10.00 in a report released on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Northland Securities’ target price points to a potential upside of 179.33% from the company’s current price.

A number of other research firms have also issued reports on AMPX. Northland Capmk raised Amprius Technologies to a “strong-buy” rating in a research report on Wednesday, October 2nd. HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of Amprius Technologies in a research note on Monday, November 11th. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Amprius Technologies presently has a consensus rating of “Buy” and a consensus target price of $9.17.

Amprius Technologies Trading Up 18.2 %

NYSE AMPX opened at $3.58 on Friday. Amprius Technologies has a 1 year low of $0.61 and a 1 year high of $5.26. The company has a market cap of $378.90 million, a PE ratio of -7.96 and a beta of 2.42. The stock’s 50-day moving average price is $2.20 and its two-hundred day moving average price is $1.52.

Amprius Technologies (NYSE:AMPX) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. Amprius Technologies had a negative net margin of 245.92% and a negative return on equity of 71.39%. The business had revenue of $7.86 million for the quarter, compared to analyst estimates of $7.70 million. During the same quarter in the previous year, the business earned ($0.10) earnings per share. Research analysts forecast that Amprius Technologies will post -0.44 EPS for the current fiscal year.

Insider Transactions at Amprius Technologies

In related news, insider Jonathan Bornstein sold 18,170 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $1.96, for a total value of $35,613.20. Following the completion of the sale, the insider now owns 454,131 shares of the company’s stock, valued at approximately $890,096.76. The trade was a 3.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Sandra Wallach sold 17,158 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $1.96, for a total value of $33,629.68. Following the completion of the transaction, the chief financial officer now owns 696,142 shares in the company, 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 ninety days, insiders have sold 43,903 shares of company stock valued at $86,050. 12.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Amprius Technologies

Several institutional investors and hedge funds have recently modified their holdings of AMPX. Geode Capital Management LLC increased its position in Amprius Technologies by 50.9% during the third quarter. Geode Capital Management LLC now owns 548,138 shares of the company’s stock worth $608,000 after buying an additional 184,863 shares during the last quarter. State Street Corp boosted its stake 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. Charles Schwab Investment Management Inc. increased its holdings 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 acquiring an additional 152,102 shares during the last quarter. AQR Capital Management LLC bought a new position in shares of Amprius Technologies in the 2nd quarter valued at approximately $99,000. Finally, XTX Topco Ltd bought a new position in shares of Amprius Technologies in the 2nd quarter valued at approximately $72,000. Institutional investors and hedge funds own 5.04% of the company’s stock.

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.