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

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

Amprius Technologies Stock Up 5.9 %

Shares of AMPX stock traded up $0.13 on Thursday, reaching $2.33. The company had a trading volume of 7,470,861 shares, compared to its average volume of 1,926,036. The business’s 50-day moving average is $2.93 and its 200 day moving average is $2.10. Amprius Technologies has a one year low of $0.61 and a one year high of $4.21. The stock has a market capitalization of $246.60 million, a PE ratio of -5.18 and a beta of 2.56.

Insider Activity at Amprius Technologies

In other Amprius Technologies news, insider Jonathan Bornstein sold 13,527 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $3.13, for a total value of $42,339.51. Following the completion of the transaction, the insider now directly owns 419,197 shares in the company, valued at approximately $1,312,086.61. This represents a 3.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Constantin Ionel Stefan sold 9,066 shares of Amprius Technologies stock in a transaction on Friday, February 21st. The stock was sold at an average price of $3.13, for a total transaction of $28,376.58. Following the transaction, the chief technology officer now owns 421,489 shares in the company, valued at approximately $1,319,260.57. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,088 shares of company stock valued at $235,025. 12.80% of the stock is owned by insiders.

Institutional Trading of Amprius Technologies

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

Analysts Set New Price Targets

A number of research firms recently commented on AMPX. Cantor Fitzgerald initiated coverage on Amprius Technologies in a research note on Tuesday, January 21st. They issued an “overweight” rating and a $10.00 price target for the company. Northland Securities boosted their target price on shares of Amprius Technologies from $4.00 to $10.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target 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.