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

Amprius Technologies (NYSE:AMPX) issued an update on its FY 2024 earnings guidance on Tuesday morning. 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 commented on AMPX. Northland Securities upped their price objective on Amprius Technologies from $4.00 to $10.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Cantor Fitzgerald started coverage on shares of Amprius Technologies in a report on Tuesday, January 21st. They issued an “overweight” rating and a $10.00 price target on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price target on shares of Amprius Technologies in a research note on Monday, November 11th. Six 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.com, the company presently has an average rating of “Buy” and a consensus price target of $9.29.

Amprius Technologies Trading Down 5.3 %

Shares of AMPX traded down $0.13 during midday trading on Tuesday, reaching $2.22. 3,193,158 shares of the stock were exchanged, compared to its average volume of 3,523,765. The company has a market capitalization of $234.43 million, a P/E ratio of -4.92 and a beta of 2.45. Amprius Technologies has a 52 week low of $0.61 and a 52 week high of $4.20. The company’s 50 day moving average is $3.12 and its two-hundred day moving average is $2.03.

Insider Buying and Selling

In other news, insider Jonathan Bornstein sold 13,527 shares of Amprius Technologies stock in a transaction on Friday, February 21st. The stock was sold at an average price of $3.13, for a total value of $42,339.51. Following the transaction, the insider now directly owns 419,197 shares in the company, valued at approximately $1,312,086.61. This trade represents a 3.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kang Sun sold 34,353 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $3.13, for a total value of $107,524.89. Following the completion of the transaction, the chief executive officer now directly owns 1,282,621 shares of the company’s stock, valued at approximately $4,014,603.73. The trade was a 2.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,088 shares of company stock valued at $235,025 over the last three months. 12.80% of the stock is owned by company 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 position in Amprius Technologies, Inc. (NYSE:AMPX) by 31.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,890 shares of the company’s stock after buying an additional 3,055 shares during the period. Bank of America Corp DE’s holdings in Amprius Technologies were worth $36,000 as of its most recent SEC filing. Institutional investors own 5.04% of the company’s stock.

Amprius Technologies Company Profile

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.