Amprius Technologies (NYSE:AMPX) Issues FY 2024 Earnings Guidance

Amprius Technologies (NYSE:AMPX) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of -0.460–0.450 for the period, compared to the consensus earnings per share estimate of -0.430. The company issued revenue guidance of $24.0 million-$24.2 million, compared to the consensus revenue estimate of $20.6 million. Amprius Technologies also updated its Q4 2024 guidance to -0.110–0.100 EPS.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AMPX. Cantor Fitzgerald began coverage on shares of Amprius Technologies in a report on Tuesday, January 21st. They set an “overweight” rating and a $10.00 price target for the company. Northland Securities upped their price target on shares of Amprius Technologies from $4.00 to $10.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Finally, HC Wainwright reiterated a “buy” rating and set a $10.00 price target on shares of Amprius Technologies in a report on Monday, November 11th. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $9.29.

Amprius Technologies Price Performance

NYSE AMPX traded down $0.13 on Tuesday, reaching $2.22. The company had a trading volume of 3,193,158 shares, compared to its average volume of 3,523,765. The firm has a market cap of $234.43 million, a price-to-earnings ratio of -4.92 and a beta of 2.45. Amprius Technologies has a fifty-two week low of $0.61 and a fifty-two week high of $4.20. The business has a 50 day moving average of $3.12 and a two-hundred day moving average of $2.03.

Insider Buying and Selling at Amprius Technologies

In other Amprius Technologies news, CTO Constantin Ionel Stefan sold 9,066 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $3.13, for a total transaction of $28,376.58. Following the sale, the chief technology officer now owns 421,489 shares of the company’s stock, valued at approximately $1,319,260.57. This represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Sandra Wallach sold 18,142 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $3.13, for a total transaction of $56,784.46. Following the sale, the chief financial officer now directly owns 678,000 shares in the company, valued at $2,122,140. This trade represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,088 shares of company stock valued at $235,025. 12.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amprius Technologies

A hedge fund recently raised its stake in Amprius Technologies stock. Bank of America Corp DE lifted its stake in shares of Amprius Technologies, Inc. (NYSE:AMPX) by 31.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,890 shares of the company’s stock after purchasing an additional 3,055 shares during the quarter. Bank of America Corp DE’s holdings in Amprius Technologies were worth $36,000 at the end of the most recent reporting period. 5.04% of the stock is currently 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.