Amprius Technologies (NYSE:AMPX) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Amprius Technologies (NYSE:AMPX) posted its quarterly earnings data on Tuesday. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.05, FiscalAI reports. The business had revenue of $34.03 million during the quarter, compared to the consensus estimate of $29.30 million. Amprius Technologies had a negative net margin of 43.98% and a negative return on equity of 17.48%.

Amprius Technologies Trading Up 7.2%

AMPX traded up $0.73 during midday trading on Tuesday, hitting $10.85. 8,631,427 shares of the company were exchanged, compared to its average volume of 8,399,726. The company’s 50 day simple moving average is $14.10 and its 200 day simple moving average is $14.92. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -36.17 and a beta of 2.34. Amprius Technologies has a 1-year low of $6.36 and a 1-year high of $24.23.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AMPX shares. Roth Capital reissued a “buy” rating on shares of Amprius Technologies in a research report on Friday, May 8th. JonesTrading assumed coverage on Amprius Technologies in a research report on Friday, July 10th. They set a “buy” rating and a $30.00 price target for the company. Zacks Research downgraded Amprius Technologies from a “hold” rating to a “strong sell” rating in a research note on Monday, July 6th. Northland Securities set a $24.00 price objective on Amprius Technologies in a report on Monday, May 11th. Finally, Wall Street Zen cut Amprius Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $22.50.

Insider Buying and Selling

In other news, CEO Thomas M. Stepien sold 60,702 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $14.79, for a total value of $897,782.58. Following the completion of the transaction, the chief executive officer owned 699,298 shares of the company’s stock, valued at $10,342,617.42. The trade was a 7.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Donald R. Dixon sold 85,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $17.17, for a total value of $1,459,450.00. Following the sale, the director directly owned 359,380 shares in the company, valued at approximately $6,170,554.60. This trade represents a 19.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 310,144 shares of company stock worth $5,049,997. Corporate insiders own 5.10% of the company’s stock.

Institutional Investors Weigh In On Amprius Technologies

Several hedge funds have recently modified their holdings of AMPX. Bank of America Corp DE raised 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 worth $36,000 after purchasing an additional 3,055 shares during the period. Rhumbline Advisers grew its holdings in 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 purchasing an additional 5,951 shares during the period. Quarry LP acquired a new stake in Amprius Technologies in the third quarter valued at approximately $42,000. XTX Topco Ltd purchased a new stake in shares of Amprius Technologies in the second quarter valued at approximately $44,000. Finally, Legal & General Group Plc increased its position 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 buying an additional 9,684 shares in the last quarter. 5.04% of the stock is owned by hedge funds and other institutional investors.

About Amprius Technologies

Amprius Technologies, Inc (NYSE: AMPX) is a U.S.-based developer of high-energy-density lithium-ion batteries that leverage silicon anode technology to deliver performance levels beyond conventional graphite-based cells. The company’s batteries are designed to offer industry-leading gravimetric energy density, enabling longer run times and reduced weight for portable power applications. Amprius blends advanced materials science and scalable manufacturing processes to commercialize next-generation battery solutions.

At the core of Amprius’ product portfolio are cylindrical and prismatic cells that employ a proprietary silicon nanowire anode, which supports high charge/discharge rates while maintaining cycle life.