HITE Hedge Asset Management LLC Purchases New Position in Amprius Technologies, Inc. $AMPX

HITE Hedge Asset Management LLC purchased a new stake in Amprius Technologies, Inc. (NYSE:AMPX) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 161,444 shares of the company’s stock, valued at approximately $433,000. HITE Hedge Asset Management LLC owned 0.14% of Amprius Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently modified their holdings of the company. Invesco Ltd. boosted its holdings in shares of Amprius Technologies by 56.5% in the fourth quarter. Invesco Ltd. now owns 2,484,662 shares of the company’s stock valued at $6,957,000 after purchasing an additional 897,222 shares during the period. Essex Investment Management Co. LLC purchased a new stake in shares of Amprius Technologies in the first quarter valued at approximately $2,508,000. Renaissance Technologies LLC boosted its holdings in shares of Amprius Technologies by 5,740.5% in the fourth quarter. Renaissance Technologies LLC now owns 765,100 shares of the company’s stock valued at $2,142,000 after purchasing an additional 752,000 shares during the period. Millennium Management LLC purchased a new stake in shares of Amprius Technologies in the fourth quarter valued at approximately $2,009,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Amprius Technologies by 6.0% in the fourth quarter. Geode Capital Management LLC now owns 580,819 shares of the company’s stock valued at $1,626,000 after purchasing an additional 32,681 shares during the period. Hedge funds and other institutional investors own 5.04% of the company’s stock.

Amprius Technologies Trading Up 1.1%

Shares of AMPX stock opened at $7.19 on Tuesday. The business’s fifty day simple moving average is $6.08 and its 200-day simple moving average is $3.83. The company has a market cap of $899.08 million, a PE ratio of -21.78 and a beta of 2.72. Amprius Technologies, Inc. has a 12-month low of $0.61 and a 12-month high of $9.66.

Amprius Technologies (NYSE:AMPX) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The business had revenue of $15.07 million for the quarter, compared to the consensus estimate of $12.38 million. Amprius Technologies had a negative return on equity of 55.79% and a negative net margin of 84.77%. On average, equities analysts forecast that Amprius Technologies, Inc. will post -0.45 earnings per share for the current year.

Insider Transactions at Amprius Technologies

In other news, CTO Constantin Ionel Stefan sold 20,366 shares of the company’s stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $2.43, for a total transaction of $49,489.38. Following the transaction, the chief technology officer directly owned 866,134 shares of the company’s stock, valued at approximately $2,104,705.62. This represents a 2.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sandra Wallach sold 27,595 shares of the company’s stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $2.43, for a total value of $67,055.85. Following the transaction, the chief financial officer directly owned 1,033,665 shares in the company, valued at approximately $2,511,805.95. The trade was a 2.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 117,747 shares of company stock valued at $286,125. Corporate insiders own 12.80% of the company’s stock.

Analysts Set New Price Targets

AMPX has been the subject of a number of research reports. William Blair upgraded Amprius Technologies from a “market perform” rating to an “outperform” rating in a report on Friday, July 18th. HC Wainwright restated a “buy” rating and set a $18.00 target price (up previously from $10.00) on shares of Amprius Technologies in a report on Friday, August 8th. B. Riley upped their target price on Amprius Technologies from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Cantor Fitzgerald upped their target price on Amprius Technologies from $10.00 to $12.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. Finally, Roth Capital restated a “buy” rating and set a $10.00 target price (up previously from $6.00) on shares of Amprius Technologies in a report on Tuesday, August 5th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $11.71.

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.