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

Amprius Technologies (NYSE:AMPX) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of -0.460–0.450 for the period, compared to the consensus EPS 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.

Analysts Set New Price Targets

AMPX has been the topic of a number of recent research reports. Northland Securities increased their price objective on Amprius Technologies from $4.00 to $10.00 and gave the stock an “outperform” rating in a 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 set a $10.00 price objective on shares of Amprius Technologies in a research note on Monday, November 11th. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Amprius Technologies presently has an average rating of “Buy” and an average target price of $9.29.

Amprius Technologies Price Performance

Shares of NYSE AMPX opened at $2.07 on Thursday. The stock has a market capitalization of $218.56 million, a P/E ratio of -4.59 and a beta of 2.45. Amprius Technologies has a one year low of $0.61 and a one year high of $4.20. The firm’s 50 day simple moving average is $3.13 and its two-hundred day simple moving average is $2.04.

Insiders Place Their Bets

In other news, CFO Sandra Wallach sold 18,142 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $3.13, for a total transaction of $56,784.46. Following the completion of the sale, the chief financial officer now owns 678,000 shares of the company’s stock, valued at approximately $2,122,140. This represents a 2.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kang Sun sold 34,353 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $3.13, for a total transaction of $107,524.89. Following the completion of the sale, the chief executive officer now directly owns 1,282,621 shares in the company, valued at approximately $4,014,603.73. This trade represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,088 shares of company stock valued at $235,025 over the last three months. Insiders own 12.80% of the company’s stock.

Institutional Investors Weigh In On Amprius Technologies

A hedge fund recently raised its stake in Amprius Technologies stock. Bank of America Corp DE boosted its stake in Amprius Technologies, Inc. (NYSE:AMPX) by 31.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period. Hedge funds and other institutional investors own 5.04% of the company’s stock.

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.