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 position in the growing drone battery market. The company is poised to benefit significantly from the current administration’s initiatives to enhance domestic drone manufacturing and supply chains, particularly in the battery sector. Recent developments have shown increased demand from drone customers, with Amprius achieving a positive gross margin earlier than anticipated, indicating strong financial health.
Furthermore, Amprius is trading at a valuation slightly below its U.S. battery peers, suggesting potential for growth as large purchase orders are expected to bolster financials. The global drone market presents a substantial opportunity, with Amprius’s superior battery technology positioning it well to capture a significant share. Additionally, the company’s strategic move to establish contract manufacturing in South Korea addresses geopolitical concerns, ensuring a stable supply chain for customers wary of China-related risks.
In another report released today, Roth MKM also reiterated a Buy rating on the stock with a $10.00 price target.
Based on the recent corporate insider activity of 30 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.