Amprius Technologies (NYSE:AMPX) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Amprius Technologies (NYSE:AMPX) announced its earnings results on Thursday. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01, Zacks reports. Amprius Technologies had a negative net margin of 245.92% and a negative return on equity of 71.39%.

Amprius Technologies Price Performance

AMPX stock traded up $0.13 during trading hours on Thursday, reaching $2.33. The stock had a trading volume of 7,470,861 shares, compared to its average volume of 1,926,036. The stock has a market capitalization of $246.60 million, a PE ratio of -5.18 and a beta of 2.56. The stock has a 50-day simple moving average of $2.93 and a 200 day simple moving average of $2.10. Amprius Technologies has a fifty-two week low of $0.61 and a fifty-two week high of $4.21.

Insider Activity

In other Amprius Technologies news, CFO Sandra Wallach sold 18,142 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $3.13, for a total value of $56,784.46. Following the transaction, the chief financial officer now directly owns 678,000 shares in the company, valued at $2,122,140. The trade was a 2.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kang Sun sold 34,353 shares of Amprius Technologies stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $3.13, for a total transaction of $107,524.89. Following the sale, the chief executive officer now directly owns 1,282,621 shares of the company’s stock, valued at $4,014,603.73. The trade was 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 company insiders.

Institutional Investors Weigh In On Amprius Technologies

An institutional investor recently raised its position in Amprius Technologies stock. Bank of America Corp DE boosted its holdings in Amprius Technologies, Inc. (NYSE:AMPX) by 31.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,890 shares of the company’s stock after purchasing an additional 3,055 shares during the quarter. Bank of America Corp DE’s holdings in Amprius Technologies were worth $36,000 at the end of the most recent reporting period. 5.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AMPX shares. Cantor Fitzgerald assumed coverage on Amprius Technologies in a research report on Tuesday, January 21st. They set an “overweight” rating and a $10.00 price objective for the company. Northland Securities upped their price target on Amprius Technologies from $4.00 to $10.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Six research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Amprius Technologies has an average rating of “Buy” and an average target price of $9.29.

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.