Amprius Technologies (NYSE:AMPX) Updates 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 (EPS) guidance of -0.460–0.450 for the period, compared to the consensus 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.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. HC Wainwright restated a “buy” rating and issued a $10.00 price target on shares of Amprius Technologies in a research report on Monday, November 11th. Northland Securities increased their price target on Amprius Technologies from $4.00 to $10.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Finally, Cantor Fitzgerald began coverage on shares of Amprius Technologies in a research note on Tuesday, January 21st. They set an “overweight” rating and a $10.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $9.29.

Amprius Technologies Stock Down 7.0 %

Shares of NYSE:AMPX opened at $2.07 on Thursday. The stock has a market cap of $218.56 million, a price-to-earnings ratio of -4.59 and a beta of 2.45. The business’s 50 day moving average is $3.13 and its 200 day moving average is $2.04. Amprius Technologies has a 12-month low of $0.61 and a 12-month high of $4.20.

Insider Transactions at Amprius Technologies

In other Amprius Technologies news, CTO Constantin Ionel Stefan sold 9,066 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $3.13, for a total value of $28,376.58. Following the transaction, the chief technology officer now directly owns 421,489 shares in the company, valued at $1,319,260.57. The trade was a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan Bornstein sold 13,527 shares of the firm’s 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 $42,339.51. Following the sale, the insider now owns 419,197 shares of the company’s stock, valued at approximately $1,312,086.61. The trade was a 3.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 75,088 shares of company stock worth $235,025 in the last quarter. 12.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amprius Technologies

A hedge fund recently raised its stake in Amprius Technologies stock. Bank of America Corp DE grew its position 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 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 at the end of the most recent reporting period. 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.