HITE Hedge Asset Management LLC Takes $433,000 Position in Amprius Technologies, Inc. $AMPX

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 Amprius Technologies, Inc. (NYSE:AMPX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 161,444 shares of the company's stock, valued at approximately $433,000. HITE Hedge Asset Management LLC owned 0.14% of Amprius Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of AMPX. Essex Investment Management Co. LLC bought a new position in shares of Amprius Technologies in the first quarter worth $2,508,000. Invesco Ltd. increased its position in shares of Amprius Technologies by 56.5% in the fourth quarter. Invesco Ltd. now owns 2,484,662 shares of the company's stock worth $6,957,000 after purchasing an additional 897,222 shares during the period. Renaissance Technologies LLC increased its position in shares of Amprius Technologies by 5,740.5% in the fourth quarter. Renaissance Technologies LLC now owns 765,100 shares of the company's stock worth $2,142,000 after purchasing an additional 752,000 shares during the period. Millennium Management LLC bought a new position in shares of Amprius Technologies in the fourth quarter worth $2,009,000. Finally, Oppenheimer & Co. Inc. increased its position in shares of Amprius Technologies by 319.4% in the first quarter. Oppenheimer & Co. Inc. now owns 491,378 shares of the company's stock worth $1,317,000 after purchasing an additional 374,228 shares during the period. Institutional investors own 5.04% of the company's stock.

Analyst Upgrades and Downgrades

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

Amprius Technologies Trading Up 6.0%

Amprius Technologies stock traded up $0.41 during midday trading on Friday, reaching $7.20. The company's stock had a trading volume of 5,960,204 shares, compared to its average volume of 8,012,407. Amprius Technologies, Inc. has a 52 week low of $0.61 and a 52 week high of $9.66. The business has a 50-day moving average price of $6.34 and a 200-day moving average price of $3.93. The stock has a market cap of $900.58 million, a PE ratio of -21.82 and a beta of 2.72.

Amprius Technologies (NYSE:AMPX - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.05) EPS for the quarter, beating analysts' consensus estimates of ($0.08) by $0.03. Amprius Technologies had a negative return on equity of 55.79% and a negative net margin of 84.77%.The firm had revenue of $15.07 million for the quarter, compared to analyst estimates of $12.38 million. As a group, research analysts predict that Amprius Technologies, Inc. will post -0.45 EPS for the current fiscal year.

Amprius Technologies 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.