Amprius Technologies (NYSE:AMPX) Releases 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.

Amprius Technologies Price Performance

Shares of AMPX stock traded down $0.13 on Tuesday, reaching $2.22. 3,193,158 shares of the company were exchanged, compared to its average volume of 3,523,765. Amprius Technologies has a one year low of $0.61 and a one year high of $4.20. The company has a market cap of $234.43 million, a price-to-earnings ratio of -4.92 and a beta of 2.45. The company has a 50-day moving average of $3.12 and a 200-day moving average of $2.03.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Northland Securities raised their price target on shares of Amprius Technologies from $4.00 to $10.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price target on shares of Amprius Technologies in a research report on Monday, November 11th. Finally, Cantor Fitzgerald assumed coverage on shares of Amprius Technologies in a research report on Tuesday, January 21st. They issued an “overweight” rating and a $10.00 price target 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $9.29.

Insider Buying and Selling at Amprius Technologies

In other news, CEO Kang Sun sold 34,353 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were 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 owns 1,282,621 shares in the company, valued at $4,014,603.73. This trade represents a 2.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Constantin Ionel Stefan sold 9,066 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 $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. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 75,088 shares of company stock worth $235,025. 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 lifted its stake in shares of Amprius Technologies, Inc. (NYSE:AMPX) by 31.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,890 shares of the company’s stock after purchasing 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 quarter. 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.