Amprius Technologies (NYSE:AMPX) Upgraded by B. Riley to Strong-Buy

B. Riley upgraded shares of Amprius Technologies (NYSE:AMPX) to a strong-buy rating in a research report sent to investors on Tuesday morning, Zacks.com reports.

Several other research firms have also issued reports on AMPX. Oppenheimer reaffirmed an outperform rating and issued a $15.00 price objective on shares of Amprius Technologies in a research note on Friday, March 22nd. Alliance Global Partners cut their price objective on shares of Amprius Technologies from $10.00 to $9.00 and set a buy rating on the stock in a research report on Friday, May 10th. Finally, HC Wainwright reissued a buy rating and issued a $10.00 target price on shares of Amprius Technologies in a research note on Thursday, April 4th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of Buy and an average price target of $10.00.

Amprius Technologies Stock Up 3.7 %

Amprius Technologies stock opened at $1.27 on Tuesday. Amprius Technologies has a 52-week low of $1.01 and a 52-week high of $8.37. The firm’s fifty day moving average is $1.50 and its 200 day moving average is $2.81. The company has a market cap of $119.51 million, a price-to-earnings ratio of -2.94 and a beta of 2.74.

Amprius Technologies (NYSE:AMPX) last posted its earnings results on Thursday, May 9th. The company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). Amprius Technologies had a negative net margin of 350.70% and a negative return on equity of 59.58%. The firm had revenue of $2.34 million for the quarter, compared to the consensus estimate of $1.70 million. During the same period in the previous year, the firm posted ($0.11) EPS. On average, equities research analysts anticipate that Amprius Technologies will post -0.43 earnings per share for the current fiscal year.

Insider Activity at Amprius Technologies

In related news, insider Kang Sun sold 19,973 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $1.33, for a total value of $26,564.09. Following the transaction, the insider now owns 1,399,697 shares of the company’s stock, valued at approximately $1,861,597.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Justin E. Mirro sold 260,000 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $1.13, for a total transaction of $293,800.00. Following the transaction, the director now owns 1,467,142 shares of the company’s stock, valued at approximately $1,657,870.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kang Sun sold 19,973 shares of Amprius Technologies stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $1.33, for a total value of $26,564.09. Following the completion of the sale, the insider now owns 1,399,697 shares of the company’s stock, valued at $1,861,597.01. The disclosure for this sale can be found here. Insiders sold a total of 575,794 shares of company stock worth $705,406 in the last quarter. 12.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. bought a new position in Amprius Technologies in the third quarter worth about $8,006,000. Kestra Advisory Services LLC purchased a new stake in shares of Amprius Technologies during the third quarter worth about $484,000. International Assets Investment Management LLC purchased a new position in shares of Amprius Technologies in the 4th quarter valued at approximately $710,000. B. Riley Wealth Advisors Inc. acquired a new stake in Amprius Technologies in the 3rd quarter worth approximately $58,000. Finally, Barclays PLC grew its position in Amprius Technologies by 2,623.0% during the 3rd quarter. Barclays PLC now owns 29,163 shares of the company’s stock worth $140,000 after purchasing an additional 28,092 shares during the last quarter. Hedge funds and other institutional investors 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.