Amprius Technologies (NYSE:AMPX) Updates Q3 2024 Earnings Guidance

Amprius Technologies (NYSE:AMPX) updated its third quarter 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of -0.110–0.100 for the period, compared to the consensus earnings per share estimate of -0.130. The company issued revenue guidance of $7.6 million-$7.9 million, compared to the consensus revenue estimate of $3.5 million.

Amprius Technologies Stock Performance

Shares of AMPX stock traded down $0.03 during mid-day trading on Friday, reaching $1.32. 495,927 shares of the company were exchanged, compared to its average volume of 873,741. Amprius Technologies has a fifty-two week low of $0.61 and a fifty-two week high of $6.02. The company has a market capitalization of $146.59 million, a P/E ratio of -2.97 and a beta of 2.71. The business’s 50 day simple moving average is $1.12 and its 200 day simple moving average is $1.30.

Amprius Technologies (NYSE:AMPX) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The company had revenue of $3.35 million for the quarter, compared to analyst estimates of $2.45 million. Amprius Technologies had a negative return on equity of 64.85% and a negative net margin of 327.05%. During the same period in the previous year, the business posted ($0.11) EPS. On average, analysts forecast that Amprius Technologies will post -0.5 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on AMPX shares. Roth Mkm cut their price objective on Amprius Technologies from $10.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Oppenheimer lowered their target price on Amprius Technologies from $15.00 to $14.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Northland Securities reduced their target price on Amprius Technologies from $10.00 to $4.00 and set an “outperform” rating for the company in a report on Tuesday, August 13th. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 target price on shares of Amprius Technologies in a research report on Monday, August 12th. Finally, Northland Capmk upgraded Amprius Technologies to a “strong-buy” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $8.17.

Insider Activity

In other news, Director Justin E. Mirro sold 135,000 shares of Amprius Technologies stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $1.00, for a total transaction of $135,000.00. Following the transaction, the director now owns 1,510,000 shares in the company, valued at $1,510,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Amprius Technologies news, CEO Kang Sun sold 33,333 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $1.04, for a total value of $34,666.32. Following the sale, the chief executive officer now owns 1,350,753 shares in the company, valued at approximately $1,404,783.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Justin E. Mirro sold 135,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $1.00, for a total value of $135,000.00. Following the completion of the sale, the director now owns 1,510,000 shares of the company’s stock, valued at $1,510,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 469,683 shares of company stock worth $425,318 in the last 90 days. Corporate insiders own 12.80% 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.