Amprius Technologies (NYSE:AMPX) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Amprius Technologies (NYSE:AMPX) issued its quarterly earnings data on Thursday. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.03, Zacks reports. The business had revenue of $21.43 million for the quarter, compared to analyst estimates of $16.45 million. Amprius Technologies had a negative net margin of 84.77% and a negative return on equity of 55.79%.

Amprius Technologies Stock Down 13.5%

Shares of AMPX stock traded down $1.76 during trading on Thursday, reaching $11.28. 13,403,786 shares of the company’s stock were exchanged, compared to its average volume of 9,130,367. Amprius Technologies has a twelve month low of $1.23 and a twelve month high of $16.03. The firm’s fifty day moving average price is $11.04 and its 200-day moving average price is $6.98.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $18.00 price objective (up from $10.00) on shares of Amprius Technologies in a report on Friday, August 8th. B. Riley raised their price objective on Amprius Technologies from $10.00 to $11.00 and gave the company a “buy” rating in a report on Friday, August 8th. William Blair upgraded Amprius Technologies from a “market perform” rating to an “outperform” rating in a report on Friday, July 18th. Northland Securities set a $20.00 price target on Amprius Technologies in a research report on Tuesday, October 7th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Amprius Technologies in a research note on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $13.71.

Insider Buying and Selling at Amprius Technologies

In other news, CEO Kang Sun sold 65,654 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $6.82, for a total value of $447,760.28. Following the transaction, the chief executive officer directly owned 1,472,306 shares of the company’s stock, valued at $10,041,126.92. This represents a 4.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Constantin Ionel Stefan sold 19,159 shares of the company’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $6.82, for a total transaction of $130,664.38. Following the completion of the transaction, the chief technology officer owned 846,975 shares in the company, valued at approximately $5,776,369.50. This trade represents a 2.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 113,203 shares of company stock worth $772,044 over the last ninety days. Insiders own 12.90% of the company’s stock.

Hedge Funds Weigh In On Amprius Technologies

A number of large investors have recently made changes to their positions in the company. Bank of America Corp DE grew its holdings in Amprius Technologies by 31.1% in the 4th quarter. Bank of America Corp DE now owns 12,890 shares of the company’s stock valued at $36,000 after buying an additional 3,055 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Amprius Technologies by 61.1% in the first quarter. Rhumbline Advisers now owns 15,690 shares of the company’s stock valued at $42,000 after acquiring an additional 5,951 shares during the period. XTX Topco Ltd acquired a new position in shares of Amprius Technologies in the second quarter valued at about $44,000. Legal & General Group Plc grew its stake in shares of Amprius Technologies by 1,385.4% in the second quarter. Legal & General Group Plc now owns 10,383 shares of the company’s stock valued at $44,000 after acquiring an additional 9,684 shares in the last quarter. Finally, Prudential Financial Inc. bought a new position in Amprius Technologies during the second quarter worth about $45,000. Institutional investors own 5.04% 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.