Amprius Technologies (NYSE:AMPX) Releases Earnings Results, Beats Expectations By $0.03 EPS

Amprius Technologies (NYSE:AMPX) issued its earnings results on Thursday. The company reported ($0.03) earnings per share (EPS) for the quarter, beating 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%

NYSE AMPX traded down $1.76 on Thursday, hitting $11.28. The stock had a trading volume of 13,403,786 shares, compared to its average volume of 9,130,367. Amprius Technologies has a one year low of $1.23 and a one year high of $16.03. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -34.18 and a beta of 2.87. The company’s 50-day moving average is $11.04 and its two-hundred day moving average is $6.98.

Insiders Place Their Bets

In other Amprius Technologies news, CFO Sandra Wallach sold 28,390 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 value of $193,619.80. Following the completion of the transaction, the chief financial officer owned 1,005,275 shares in the company, valued at approximately $6,855,975.50. This represents a 2.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kang Sun sold 65,654 shares of the company’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $6.82, for a total transaction of $447,760.28. Following the completion of the transaction, the chief executive officer owned 1,472,306 shares of the company’s stock, valued at approximately $10,041,126.92. This trade represents a 4.27% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 113,203 shares of company stock worth $772,044. Insiders own 12.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. bought a new position in shares of Amprius Technologies in the third quarter valued at approximately $232,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Amprius Technologies in the second quarter valued at approximately $213,000. BNP Paribas Financial Markets boosted its holdings in shares of Amprius Technologies by 2,677.3% in the second quarter. BNP Paribas Financial Markets now owns 159,614 shares of the company’s stock valued at $672,000 after acquiring an additional 153,867 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Amprius Technologies by 50.7% in the second quarter. Bank of America Corp DE now owns 126,779 shares of the company’s stock valued at $534,000 after acquiring an additional 42,625 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Amprius Technologies by 419.1% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,041 shares of the company’s stock valued at $215,000 after acquiring an additional 41,208 shares in the last quarter. 5.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AMPX has been the topic of several research reports. Northland Securities set a $20.00 price objective on shares of Amprius Technologies in a research note on Tuesday, October 7th. HC Wainwright reiterated a “buy” rating and set a $18.00 price objective (up previously from $10.00) on shares of Amprius Technologies in a research note on Friday, August 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Amprius Technologies in a research note on Wednesday, October 8th. Roth Capital set a $14.00 price objective on shares of Amprius Technologies and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Finally, William Blair upgraded shares of Amprius Technologies from a “market perform” rating to an “outperform” rating in a research note on Friday, July 18th. Eight investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.71.

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.