Amprius Technologies (NYSE:AMPX) Raised to “Strong-Buy” at Canaccord Genuity Group

Amprius Technologies (NYSE:AMPX) was upgraded by investment analysts at Canaccord Genuity Group to a “strong-buy” rating in a report released on Wednesday, Zacks reports.

A number of other brokerages have also issued reports on AMPX. JonesTrading began coverage on Amprius Technologies in a research note on Friday, July 10th. They set a “buy” rating and a $30.00 price target for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Amprius Technologies in a research report on Friday, July 17th. National Bank Financial set a $18.00 price objective on Amprius Technologies in a research note on Tuesday, September 29th. HC Wainwright reissued a “buy” rating and issued a $18.00 price objective on shares of Amprius Technologies in a research note on Tuesday, September 29th. Finally, Zacks Research upgraded Amprius Technologies from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Amprius Technologies has a consensus rating of “Moderate Buy” and an average price target of $21.42.

Amprius Technologies Price Performance

Shares of NYSE:AMPX opened at $8.01 on Wednesday. Amprius Technologies has a 12 month low of $7.71 and a 12 month high of $24.23. The stock’s 50 day moving average price is $10.02 and its 200 day moving average price is $13.72.

Insider Buying and Selling

In other Amprius Technologies news, CEO Thomas Stepien sold 23,529 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $10.34, for a total transaction of $243,289.86. Following the sale, the chief executive officer owned 602,096 shares in the company, valued at approximately $6,225,672.64. The trade was a 3.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kang Sun sold 62,101 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $10.34, for a total value of $642,124.34. Following the sale, the director owned 1,218,397 shares in the company, valued at approximately $12,598,224.98. The trade was a 4.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 123,311 shares of company stock valued at $1,272,556. 5.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Amprius Technologies

A number of large investors have recently made changes to their positions in the company. Wellington Management Group LLP purchased a new position in shares of Amprius Technologies during the second quarter valued at $4,751,000. Calamos Advisors LLC raised its position in Amprius Technologies by 206.2% during the first quarter. Calamos Advisors LLC now owns 364,506 shares of the company’s stock valued at $6,146,000 after buying an additional 245,473 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Amprius Technologies during the first quarter valued at $2,769,000. SG Americas Securities LLC lifted its stake in Amprius Technologies by 65.7% in the 1st quarter. SG Americas Securities LLC now owns 423,037 shares of the company’s stock worth $7,132,000 after acquiring an additional 167,785 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in Amprius Technologies by 34.1% in the 1st quarter. Sei Investments Co. now owns 579,161 shares of the company’s stock worth $9,765,000 after acquiring an additional 147,375 shares in the last quarter. Institutional investors and hedge funds own 5.04% of the company’s stock.

Amprius Technologies Company Profile

Amprius Technologies, Inc develops and manufactures high-performance lithium-ion batteries using silicon nanowire anode technology. Its batteries are designed to provide greater energy density and power than conventional graphite-anode cells, supporting longer operating times and reduced weight for battery-powered systems.

The company’s products are intended for demanding applications including aerospace, defense, electric aviation, drones, high-altitude platforms, electric vehicles and other electric mobility systems.