William Blair analyst Jed Dorsheimer has reiterated their bullish stance on AMPX stock, giving a Buy rating today.
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Jed Dorsheimer has given his Buy rating due to a combination of factors that highlight Amprius Technologies Inc’s strong market position and growth potential. The company has demonstrated robust performance by surpassing expectations, particularly in gross margin, and has seen a significant increase in customer shipments and orders. This growth is largely driven by the increasing demand for drones, where Amprius’s batteries offer notable performance advantages.
Furthermore, Amprius has secured substantial orders from key clients, including a $35 million follow-on order from a leading drone customer, and has expanded its customer base significantly. The company is also strategically diversifying its manufacturing footprint, with efforts to establish a presence in South Korea and enhance its domestic capacity in Fremont. These initiatives position Amprius well to capitalize on the expanding electric aviation market, which is projected to grow significantly in the coming years.
In another report released today, Roth MKM also reiterated a Buy rating on the stock with a $16.00 price target.
Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AMPX in relation to earlier this year.