Northland Securities Cuts Amprius Technologies (NYSE:AMPX) Price Target to $4.00

Amprius Technologies (NYSE:AMPX) had its target price decreased by Northland Securities from $10.00 to $4.00 in a research report sent to investors on Tuesday, Benzinga reports. Northland Securities currently has an outperform rating on the stock.

A number of other analysts also recently issued reports on AMPX. HC Wainwright reissued a buy rating and set a $10.00 price target on shares of Amprius Technologies in a report on Monday. Oppenheimer dropped their target price on Amprius Technologies from $15.00 to $14.00 and set an outperform rating on the stock in a research report on Friday, August 9th. Alliance Global Partners reduced their price target on Amprius Technologies from $10.00 to $9.00 and set a buy rating for the company in a report on Friday, May 10th. Roth Mkm dropped their price objective on Amprius Technologies from $10.00 to $6.00 and set a buy rating on the stock in a report on Friday, August 9th. Finally, B. Riley raised Amprius Technologies to a strong-buy rating in a research note on Tuesday, June 25th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Buy and a consensus price target of $8.17.

Amprius Technologies Stock Performance

Shares of AMPX opened at $1.11 on Tuesday. The company has a market capitalization of $119.84 million, a P/E ratio of -2.58 and a beta of 2.71. The business’s 50-day moving average is $1.22 and its two-hundred day moving average is $2.07. Amprius Technologies has a fifty-two week low of $1.01 and a fifty-two week high of $6.02.

Amprius Technologies (NYSE:AMPX) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.02). Amprius Technologies had a negative net margin of 350.70% and a negative return on equity of 59.58%. The company had revenue of $3.35 million for the quarter, compared to analysts’ expectations of $2.45 million. During the same quarter in the prior year, the business posted ($0.11) earnings per share. Analysts forecast that Amprius Technologies will post -0.43 EPS for the current year.

Insider Activity

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

Hedge Funds Weigh In On Amprius Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMPX. AQR Capital Management LLC purchased a new position in shares of Amprius Technologies during the 2nd quarter worth $99,000. XTX Topco Ltd acquired a new position in Amprius Technologies in the 2nd quarter valued at about $72,000. International Assets Investment Management LLC acquired a new position in Amprius Technologies in the 4th quarter valued at about $710,000. B. Riley Wealth Advisors Inc. grew its stake in shares of Amprius Technologies by 29.3% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 15,775 shares of the company’s stock valued at $83,000 after buying an additional 3,575 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Amprius Technologies by 45.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,252 shares of the company’s stock worth $44,000 after buying an additional 2,597 shares during the last quarter. 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.