Amprius Technologies (NYSE:AMPX) Releases Earnings Results, Misses Estimates By $0.01 EPS

Amprius Technologies (NYSE:AMPX) issued its quarterly earnings results on Tuesday. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01), FiscalAI reports. The business had revenue of $39.15 million for the quarter, compared to analysts’ expectations of $35.80 million. Amprius Technologies had a negative net margin of 35.16% and a negative return on equity of 12.63%.

Amprius Technologies Price Performance

AMPX traded down $0.36 during trading on Tuesday, reaching $9.16. 6,771,416 shares of the stock traded hands, compared to its average volume of 7,474,158. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -31.59 and a beta of 2.36. Amprius Technologies has a fifty-two week low of $7.02 and a fifty-two week high of $24.23. The stock’s 50-day simple moving average is $9.10 and its two-hundred day simple moving average is $13.24.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AMPX. HC Wainwright reissued a “buy” rating and issued a $18.00 price objective on shares of Amprius Technologies in a research note on Tuesday, September 29th. UBS Group reaffirmed an “outperform” rating on shares of Amprius Technologies in a research note on Friday. Zacks Research upgraded Amprius Technologies from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. William Blair reiterated an “outperform” rating on shares of Amprius Technologies in a report on Friday. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Amprius Technologies in a research report on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Amprius Technologies currently has an average rating of “Moderate Buy” and an average target price of $21.42.

Insiders Place Their Bets

In other news, CTO Constantin Stefan sold 29,681 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $10.34, for a total transaction of $306,901.54. Following the completion of the sale, the chief technology officer directly owned 771,629 shares of the company’s stock, valued at $7,978,643.86. This trade represents a 3.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kang Sun sold 62,101 shares of Amprius Technologies stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $10.34, for a total value of $642,124.34. Following the sale, the director owned 1,218,397 shares of the company’s stock, valued at approximately $12,598,224.98. This represents a 4.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 123,311 shares of company stock valued at $1,272,556 in the last three months. Insiders own 5.10% of the company’s stock.

About Amprius Technologies

Amprius Technologies, Inc. develops and manufactures lithium-ion batteries designed to provide high energy density and power. Its battery technology uses silicon-based anodes, an alternative to the graphite anodes commonly used in conventional lithium-ion cells. The company’s products are designed for applications where low weight and high performance are important, including electric aviation, drones, aerospace, defense and other mobility markets. Amprius offers silicon-anode cells for customers developing these systems.