Amprius Technologies (NYSE:AMPX) Posts Earnings Results, Beats Estimates By $0.01 EPS

Amprius Technologies (NYSE:AMPX) issued its quarterly earnings results on Thursday. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.01, Zacks reports. The business had revenue of $10.63 million for the quarter, compared to the consensus estimate of $7.12 million. Amprius Technologies had a negative net margin of 245.92% and a negative return on equity of 71.39%.

Amprius Technologies Stock Up 34.4 %

Amprius Technologies stock opened at $3.11 on Friday. Amprius Technologies has a twelve month low of $0.61 and a twelve month high of $4.21. The company has a 50 day moving average of $2.91 and a 200-day moving average of $2.12. The stock has a market capitalization of $328.63 million, a PE ratio of -6.90 and a beta of 2.56.

Wall Street Analysts Forecast Growth

AMPX has been the topic of a number of research reports. Northland Securities upped their target price on shares of Amprius Technologies from $4.00 to $10.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. HC Wainwright reissued a “buy” rating and issued a $10.00 target price on shares of Amprius Technologies in a research note on Friday. Cantor Fitzgerald started coverage on Amprius Technologies in a research note on Tuesday, January 21st. They set an “overweight” rating and a $10.00 price target on the stock. Roth Mkm reissued a “buy” rating and set a $6.00 price objective on shares of Amprius Technologies in a report on Friday. Finally, B. Riley raised their target price on shares of Amprius Technologies from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Friday. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Amprius Technologies currently has an average rating of “Buy” and an average target price of $9.43.

Insider Activity at Amprius Technologies

In related news, CTO Constantin Ionel Stefan sold 9,066 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $3.13, for a total transaction of $28,376.58. Following the transaction, the chief technology officer now directly owns 421,489 shares in the company, valued at approximately $1,319,260.57. The trade was a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kang Sun sold 34,353 shares of Amprius Technologies stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $3.13, for a total transaction of $107,524.89. Following the completion of the transaction, the chief executive officer now directly owns 1,282,621 shares of the company’s stock, valued at approximately $4,014,603.73. This trade represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,088 shares of company stock valued at $235,025. 12.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amprius Technologies

An institutional investor recently raised its position in Amprius Technologies stock. Bank of America Corp DE boosted its position in Amprius Technologies, Inc. (NYSE:AMPX) by 31.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 12,890 shares of the company’s stock after acquiring an additional 3,055 shares during the period. Bank of America Corp DE’s holdings in Amprius Technologies were worth $36,000 as of its most recent SEC filing. Institutional investors and hedge funds 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.