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

Amprius Technologies (NYSE:AMPX) had its price target raised by equities researchers at Northland Securities from $4.00 to $10.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Northland Securities’ target price would suggest a potential upside of 232.23% from the company’s current price.

A number of other equities analysts have also weighed in on AMPX. HC Wainwright reiterated a “buy” rating and issued a $10.00 price target on shares of Amprius Technologies in a research report on Monday, November 11th. Northland Capmk raised shares of Amprius Technologies to a “strong-buy” rating in a research note on Wednesday, October 2nd. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $9.17.

Amprius Technologies Price Performance

AMPX stock opened at $3.01 on Friday. The firm has a market cap of $318.58 million, a PE ratio of -6.69 and a beta of 2.42. Amprius Technologies has a 12 month low of $0.61 and a 12 month high of $5.26. The firm has a 50 day simple moving average of $2.15 and a 200 day simple moving average of $1.51.

Amprius Technologies (NYSE:AMPX) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The company had revenue of $7.86 million during the quarter, compared to the consensus estimate of $7.70 million. Amprius Technologies had a negative return on equity of 71.39% and a negative net margin of 245.92%. During the same quarter in the prior year, the firm earned ($0.10) EPS. As a group, sell-side analysts expect that Amprius Technologies will post -0.44 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AMPX. Geode Capital Management LLC lifted its holdings in shares of Amprius Technologies by 50.9% during the 3rd quarter. Geode Capital Management LLC now owns 548,138 shares of the company’s stock valued at $608,000 after buying an additional 184,863 shares during the last quarter. State Street Corp raised its position in Amprius Technologies by 4.7% during the third quarter. State Street Corp now owns 286,390 shares of the company’s stock valued at $318,000 after acquiring an additional 12,900 shares in the last quarter. Charles Schwab Investment Management Inc. lifted 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 acquiring an additional 152,102 shares during the last quarter. AQR Capital Management LLC bought a new stake in Amprius Technologies in the second quarter worth approximately $99,000. Finally, XTX Topco Ltd acquired a new position in shares of Amprius Technologies during the 2nd quarter worth $72,000. 5.04% of the stock is 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.