Amprius Technologies (NYSE:AMPX) Issues Earnings Results

Amprius Technologies (NYSE:AMPX - Get Free Report) released 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. The business had revenue of $10.63 million for the quarter, compared to analyst estimates of $7.12 million. 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 NYSE AMPX traded up $0.19 during mid-day trading on Monday, reaching $3.30. 10,176,423 shares of the company were exchanged, compared to its average volume of 2,009,946. Amprius Technologies has a 1 year low of $0.61 and a 1 year high of $4.21. The firm has a 50-day moving average of $2.91 and a 200 day moving average of $2.13. The stock has a market cap of $348.74 million, a price-to-earnings ratio of -7.32 and a beta of 2.56.

Insiders Place Their Bets

In related news, CTO Constantin Ionel Stefan sold 9,066 shares of the business's 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 directly owns 421,489 shares in the company, valued at $1,319,260.57. The trade was a 2.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Sandra Wallach sold 18,142 shares of the company's stock in a transaction dated 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. This represents a 2.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,088 shares of company stock worth $235,025. 12.80% of the stock is owned by corporate insiders.

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Hedge Funds Weigh In On Amprius Technologies

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

Analysts Set New Price Targets

A number of research firms have recently commented on AMPX. B. Riley upped their price target on shares of Amprius Technologies from $5.00 to $6.00 and gave the stock a "buy" rating in a report on Friday. Oppenheimer upped their target price on shares of Amprius Technologies from $14.00 to $15.00 and gave the stock an "outperform" rating in a research note on Friday. HC Wainwright reaffirmed a "buy" rating and set a $10.00 price target on shares of Amprius Technologies in a research note on Friday. Cantor Fitzgerald started coverage on Amprius Technologies in a research note on Tuesday, January 21st. They issued an "overweight" rating and a $10.00 price objective on the stock. Finally, Northland Securities lifted their target price on Amprius Technologies from $4.00 to $10.00 and gave the company an "outperform" rating in a research report on Friday, January 10th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $9.43.

About Amprius Technologies

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.