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

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

Amprius Technologies Trading Up 7.2%

Amprius Technologies stock traded up $0.73 during midday trading on Tuesday, hitting $10.85. The stock had a trading volume of 8,015,157 shares, compared to its average volume of 8,394,656. The firm’s fifty day moving average is $14.10 and its two-hundred day moving average is $14.92. The company has a market capitalization of $1.54 billion, a PE ratio of -36.17 and a beta of 2.34. Amprius Technologies has a 52-week low of $6.36 and a 52-week high of $24.23.

Insiders Place Their Bets

In other news, Director Kang Sun sold 67,796 shares of Amprius Technologies stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $14.79, for a total transaction of $1,002,702.84. Following the sale, the director owned 1,280,854 shares in the company, valued at $18,943,830.66. This trade represents a 5.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Constantin Ionel Stefan sold 3,208 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $17.19, for a total transaction of $55,145.52. Following the transaction, the chief technology officer directly owned 801,310 shares of the company’s stock, valued at $13,774,518.90. The trade was a 0.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 310,144 shares of company stock worth $5,049,997 over the last quarter. Company insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On Amprius Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in Amprius Technologies by 14.7% in the third quarter. Victory Capital Management Inc. now owns 11,817 shares of the company’s stock worth $124,000 after purchasing an additional 1,516 shares during the last quarter. Graham Capital Management L.P. grew its stake in shares of Amprius Technologies by 3.2% in the 4th quarter. Graham Capital Management L.P. now owns 49,596 shares of the company’s stock worth $391,000 after buying an additional 1,551 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Amprius Technologies by 5.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 33,280 shares of the company’s stock worth $263,000 after buying an additional 1,621 shares during the last quarter. First Trust Advisors LP raised its position in shares of Amprius Technologies by 6.7% during the 4th quarter. First Trust Advisors LP now owns 32,744 shares of the company’s stock valued at $258,000 after buying an additional 2,066 shares in the last quarter. Finally, Focus Partners Wealth lifted its holdings in shares of Amprius Technologies by 9.3% in the 3rd quarter. Focus Partners Wealth now owns 26,484 shares of the company’s stock valued at $276,000 after acquiring an additional 2,245 shares during the last quarter. 5.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on AMPX. Wall Street Zen lowered Amprius Technologies from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Roth Capital reaffirmed a “buy” rating on shares of Amprius Technologies in a report on Friday, May 8th. Northland Securities set a $24.00 price objective on Amprius Technologies in a research report on Monday, May 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Amprius Technologies in a report on Friday, July 17th. Finally, Clear Str initiated coverage on shares of Amprius Technologies in a report on Tuesday, June 2nd. They set a “strong-buy” rating and a $33.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

Amprius Technologies Company Profile

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.