161,444 Shares in Amprius Technologies, Inc. $AMPX Purchased by HITE Hedge Asset Management LLC

Key Points

• HITE Hedge Asset Management LLC recently acquired a new position in Amprius Technologies, purchasing 161,444 shares valued at approximately $433,000.
• The company reported a quarterly earnings per share of ($0.05), exceeding analysts' estimates, with revenue of $15.07 million for the quarter.
• Several analysts have upgraded their ratings for Amprius Technologies, with HC Wainwright setting a new price target of $18.00, reflecting increased confidence in the stock.

HITE Hedge Asset Management LLC purchased a new position in shares of Amprius Technologies, Inc. (NYSE:AMPX - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 161,444 shares of the company's stock, valued at approximately $433,000. HITE Hedge Asset Management LLC owned approximately 0.14% of Amprius Technologies at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AMPX. Geode Capital Management LLC grew its holdings in shares of Amprius Technologies by 6.0% during the fourth quarter. Geode Capital Management LLC now owns 580,819 shares of the company's stock valued at $1,626,000 after buying an additional 32,681 shares during the last quarter. Invesco Ltd. grew its stake in Amprius Technologies by 56.5% during the 4th quarter. Invesco Ltd. now owns 2,484,662 shares of the company's stock valued at $6,957,000 after purchasing an additional 897,222 shares during the last quarter. Renaissance Technologies LLC grew its stake in Amprius Technologies by 5,740.5% during the 4th quarter. Renaissance Technologies LLC now owns 765,100 shares of the company's stock valued at $2,142,000 after purchasing an additional 752,000 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Amprius Technologies in the fourth quarter valued at about $150,000. Finally, Northern Trust Corp raised its stake in shares of Amprius Technologies by 33.6% in the fourth quarter. Northern Trust Corp now owns 208,420 shares of the company's stock worth $584,000 after purchasing an additional 52,370 shares during the last quarter. 5.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Cantor Fitzgerald upped their target price on Amprius Technologies from $10.00 to $12.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. William Blair upgraded shares of Amprius Technologies from a "market perform" rating to an "outperform" rating in a research note on Friday, July 18th. B. Riley raised their target price on shares of Amprius Technologies from $10.00 to $11.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Roth Capital reaffirmed a "buy" rating and issued a $10.00 price target (up from $6.00) on shares of Amprius Technologies in a report on Tuesday, August 5th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $18.00 price target (up from $10.00) on shares of Amprius Technologies in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. Based on data from MarketBeat.com, Amprius Technologies currently has a consensus rating of "Buy" and a consensus target price of $11.71.

Amprius Technologies Stock Up 0.8%

Shares of NYSE:AMPX traded up $0.0550 during trading on Thursday, reaching $6.7950. 3,508,615 shares of the company's stock traded hands, compared to its average volume of 5,116,979. Amprius Technologies, Inc. has a fifty-two week low of $0.61 and a fifty-two week high of $9.66. The firm has a market cap of $849.92 million, a PE ratio of -20.59 and a beta of 2.72. The company has a 50-day simple moving average of $6.22 and a 200-day simple moving average of $3.87.

Amprius Technologies (NYSE:AMPX - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share for the quarter, topping analysts' consensus estimates of ($0.08) by $0.03. The company had revenue of $15.07 million during the quarter, compared to analysts' expectations of $12.38 million. Amprius Technologies had a negative return on equity of 55.79% and a negative net margin of 84.77%. On average, equities research analysts forecast that Amprius Technologies, Inc. will post -0.45 EPS for the current year.

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.