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

Amprius Technologies (NYSE:AMPX) had its price objective increased by research analysts at B. Riley from $5.00 to $6.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley’s price objective points to a potential upside of 93.24% from the company’s current price.

Several other research analysts have also weighed in on the stock. Northland Securities increased their target price on shares of Amprius Technologies from $4.00 to $10.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Cantor Fitzgerald initiated coverage on shares of Amprius Technologies in a research note on Tuesday, January 21st. They set an “overweight” rating and a $10.00 target price for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $10.00 target price on shares of Amprius Technologies in a research note on Friday. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $9.43.

Amprius Technologies Trading Up 34.4 %

Amprius Technologies stock opened at $3.11 on Friday. Amprius Technologies has a 12-month low of $0.61 and a 12-month high of $4.21. The stock has a market cap of $328.63 million, a P/E ratio of -6.90 and a beta of 2.56. The company has a 50-day moving average price of $2.91 and a 200 day moving average price of $2.13.

Amprius Technologies (NYSE:AMPX) last announced its earnings results on Thursday, March 20th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.01. The company had revenue of $10.63 million during the quarter, compared to analyst estimates 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, analysts forecast that Amprius Technologies will post -0.45 EPS for the current year.

Insider Activity

In related news, insider Jonathan Bornstein sold 13,527 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $3.13, for a total value of $42,339.51. Following the sale, the insider now owns 419,197 shares of the company’s stock, valued at $1,312,086.61. This trade represents a 3.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kang Sun sold 34,353 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $3.13, for a total transaction of $107,524.89. Following the completion of the sale, the chief executive officer now directly owns 1,282,621 shares in the company, valued at approximately $4,014,603.73. This trade represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 75,088 shares of company stock valued at $235,025. 12.80% of the stock is currently owned by company insiders.

Institutional Trading of Amprius Technologies

Hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers raised its holdings in Amprius Technologies by 49.4% in the fourth quarter. Rhumbline Advisers now owns 9,739 shares of the company’s stock valued at $27,000 after acquiring an additional 3,222 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in Amprius Technologies during the fourth quarter worth approximately $28,000. JPMorgan Chase & Co. raised its holdings in Amprius Technologies by 343.1% during the third quarter. JPMorgan Chase & Co. now owns 27,041 shares of the company’s stock worth $30,000 after purchasing an additional 20,939 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new stake in Amprius Technologies during the fourth quarter worth approximately $30,000. Finally, B. Riley Wealth Advisors Inc. raised its holdings in Amprius Technologies by 29.8% during the third quarter. B. Riley Wealth Advisors Inc. now owns 29,200 shares of the company’s stock worth $31,000 after purchasing an additional 6,700 shares in the last quarter. Institutional investors and hedge funds own 5.04% of the company’s stock.

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.