Amprius Technologies (NYSE:AMPX) Issues Quarterly Earnings Results

Amprius Technologies (NYSE:AMPX) released its earnings results on Thursday. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.03, Zacks reports. The firm had revenue of $21.43 million during the quarter, compared to the consensus estimate of $16.45 million. Amprius Technologies had a negative return on equity of 55.79% and a negative net margin of 84.77%.

Amprius Technologies Stock Performance

Shares of NYSE AMPX traded down $1.76 during midday trading on Thursday, reaching $11.28. 13,403,786 shares of the company were exchanged, compared to its average volume of 9,130,367. The stock’s 50-day moving average price is $11.04 and its 200-day moving average price is $6.98. Amprius Technologies has a one year low of $1.23 and a one year high of $16.03.

Insider Buying and Selling

In other news, CFO Sandra Wallach sold 28,390 shares of the business’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 $193,619.80. Following the sale, the chief financial officer directly owned 1,005,275 shares in the company, valued at approximately $6,855,975.50. The trade was a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Kang Sun sold 65,654 shares of Amprius Technologies stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $6.82, for a total transaction of $447,760.28. Following the sale, the chief executive officer owned 1,472,306 shares in the company, valued at approximately $10,041,126.92. This represents a 4.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 113,203 shares of company stock worth $772,044 in the last 90 days. Insiders own 12.90% of the company’s stock.

Institutional Trading of Amprius Technologies

Several institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. increased its holdings in Amprius Technologies by 12,063.3% in the second quarter. JPMorgan Chase & Co. now owns 1,017,217 shares of the company’s stock valued at $4,282,000 after purchasing an additional 1,008,854 shares during the period. Millennium Management LLC grew its position in shares of Amprius Technologies by 94.5% in the 1st quarter. Millennium Management LLC now owns 1,396,013 shares of the company’s stock valued at $3,741,000 after buying an additional 678,442 shares during the last quarter. BNP Paribas Financial Markets increased its stake 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 buying an additional 153,867 shares during the period. Marshall Wace LLP raised its position in shares of Amprius Technologies by 16.1% during the second quarter. Marshall Wace LLP now owns 1,105,413 shares of the company’s stock worth $4,654,000 after acquiring an additional 153,476 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Amprius Technologies by 128.6% during the first quarter. Goldman Sachs Group Inc. now owns 244,646 shares of the company’s stock worth $656,000 after acquiring an additional 137,640 shares during the last quarter. Institutional investors own 5.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Roth Capital set a $14.00 price objective on shares of Amprius Technologies and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Amprius Technologies in a report on Wednesday, October 8th. Cantor Fitzgerald lifted their price objective on shares of Amprius Technologies from $10.00 to $12.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Northland Securities set a $20.00 price objective on shares of Amprius Technologies in a research report on Tuesday, October 7th. Finally, William Blair raised Amprius Technologies from a “market perform” rating to an “outperform” rating in a report on Friday, July 18th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.