Cantor Fitzgerald Begins Coverage on Amprius Technologies (NYSE:AMPX)

Stock analysts at Cantor Fitzgerald assumed coverage on shares of Amprius Technologies (NYSE:AMPX) in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm set an “overweight” rating and a $10.00 price target on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 190.02% from the company’s previous close.

Several other equities analysts also recently commented on the company. HC Wainwright reiterated a “buy” rating and issued a $10.00 price objective on shares of Amprius Technologies in a research note on Monday, November 11th. Northland Capmk raised Amprius Technologies to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, Northland Securities lifted their price objective on Amprius Technologies from $4.00 to $10.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $9.29.

Amprius Technologies Stock Performance

NYSE:AMPX opened at $3.45 on Tuesday. Amprius Technologies has a 52 week low of $0.61 and a 52 week high of $4.70. The firm has a 50-day moving average price of $2.43 and a two-hundred day moving average price of $1.63. The firm has a market cap of $364.94 million, a price-to-earnings ratio of -7.66 and a beta of 2.42.

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

Insider Buying and Selling

In related news, CFO Sandra Wallach sold 17,158 shares of the stock in a transaction 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 sale, the chief financial officer now owns 696,142 shares in the company, valued at approximately $1,364,438.32. This trade represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jonathan Bornstein sold 18,170 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 454,131 shares in the company, valued at $890,096.76. This represents a 3.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,903 shares of company stock valued at $86,050. Corporate insiders own 12.80% of the company’s stock.

Institutional Investors Weigh In On Amprius Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Kingswood Wealth Advisors LLC purchased a new stake in Amprius Technologies during the fourth quarter valued at about $30,000. Hamilton Lane Advisors LLC bought a new stake in Amprius Technologies in the 4th quarter worth approximately $129,000. JPMorgan Chase & Co. boosted its stake in Amprius Technologies by 343.1% in the third quarter. JPMorgan Chase & Co. now owns 27,041 shares of the company’s stock worth $30,000 after buying an additional 20,939 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of 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 acquiring an additional 6,700 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Amprius Technologies by 50.9% in the 3rd quarter. Geode Capital Management LLC now owns 548,138 shares of the company’s stock worth $608,000 after acquiring an additional 184,863 shares during the last quarter. 5.04% of the stock is owned by hedge funds and other institutional investors.

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.