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

Amprius Technologies (NYSE:AMPX) updated its FY 2024 earnings guidance on Tuesday. 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 Stock Down 5.3 %

Shares of NYSE AMPX opened at $2.22 on Wednesday. The stock has a market capitalization of $234.43 million, a price-to-earnings 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 firm has a 50-day simple moving average of $3.12 and a 200-day simple moving average of $2.04.

Analyst Upgrades and Downgrades

AMPX has been the topic of a number of analyst reports. Northland Securities lifted their price objective on Amprius Technologies from $4.00 to $10.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. HC Wainwright reiterated a “buy” rating and set a $10.00 price target on shares of Amprius Technologies in a report on Monday, November 11th. Finally, Cantor Fitzgerald initiated coverage on shares of Amprius Technologies in a report on Tuesday, January 21st. They issued an “overweight” rating and a $10.00 price objective for the company. Six research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $9.29.

Insider Activity

In other news, CFO Sandra Wallach sold 18,142 shares of the business’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 value of $56,784.46. Following the sale, the chief financial officer now directly owns 678,000 shares of the company’s stock, valued at approximately $2,122,140. The trade was a 2.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kang Sun sold 34,353 shares of the company’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 $107,524.89. Following the completion of the transaction, the chief executive officer now owns 1,282,621 shares in the company, valued at approximately $4,014,603.73. This represents a 2.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 75,088 shares of company stock valued at $235,025 in the last quarter. Insiders own 12.80% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Amprius Technologies stock. Bank of America Corp DE increased its position in shares of Amprius Technologies, Inc. (NYSE:AMPX) by 31.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,890 shares of the company’s stock after acquiring 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. 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.