Amprius Technologies (NYSE:AMPX) Releases Earnings Results, Beats Expectations By $0.05 EPS

Key Points

• Amprius Technologies beat quarterly expectations, reporting EPS of $0.02 versus the consensus estimate of a $0.03 loss, while revenue reached $34.03 million compared with expectations of $29.30 million. Despite the beat, the company posted a negative 43.98% net margin.
• Wall Street maintains a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $22.50, well above the stock’s reported trading price of $10.85.
• Company insiders sold 310,144 shares worth approximately $5.05 million over the past three months, while institutional investors own 5.04% of Amprius Technologies.

Amprius Technologies (NYSE:AMPX - Get Free Report) posted its earnings results on Tuesday. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.05, FiscalAI reports. The company had revenue of $34.03 million for the quarter, compared to analysts' expectations of $29.30 million. Amprius Technologies had a negative return on equity of 17.48% and a negative net margin of 43.98%.

Amprius Technologies Stock Performance

Shares of Amprius Technologies stock traded up $0.73 during trading on Tuesday, hitting $10.85. The company's stock had a trading volume of 8,015,157 shares, compared to its average volume of 8,394,656. The company has a fifty day simple moving average of $14.10 and a two-hundred day simple moving average of $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.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AMPX. Clear Str began coverage on Amprius Technologies in a research report on Tuesday, June 2nd. They issued a "strong-buy" rating and a $33.00 price objective on the stock. JonesTrading assumed coverage on shares of Amprius Technologies in a research report on Friday, July 10th. They set a "buy" rating and a $30.00 price objective on the stock. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Amprius Technologies in a research report on Friday, July 17th. Roth Capital reaffirmed a "buy" rating on shares of Amprius Technologies in a research note on Friday, May 8th. Finally, Northland Securities set a $24.00 price target on shares of Amprius Technologies in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $22.50.

Insider Buying and Selling at Amprius Technologies

In other Amprius Technologies news, CEO Thomas M. Stepien sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $20.97, for a total transaction of $41,940.00. Following the completion of the transaction, the chief executive officer owned 625,625 shares of the company's stock, valued at approximately $13,119,356.25. This trade represents a 0.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Donald R. Dixon sold 85,000 shares of Amprius Technologies stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $17.17, for a total transaction of $1,459,450.00. Following the transaction, the director owned 359,380 shares of the company's stock, valued at $6,170,554.60. The trade was a 19.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 310,144 shares of company stock worth $5,049,997. Insiders own 5.10% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its stake in Amprius Technologies by 31.1% during the fourth quarter. Bank of America Corp DE now owns 12,890 shares of the company's stock valued at $36,000 after buying an additional 3,055 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Amprius Technologies by 86.7% during the first quarter. AQR Capital Management LLC now owns 77,764 shares of the company's stock valued at $208,000 after acquiring an additional 36,116 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Amprius Technologies by 94.5% during the first quarter. Millennium Management LLC now owns 1,396,013 shares of the company's stock valued at $3,741,000 after acquiring an additional 678,442 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Amprius Technologies by 128.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 244,646 shares of the company's stock worth $656,000 after purchasing an additional 137,640 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of Amprius Technologies by 61.1% in the 1st quarter. Rhumbline Advisers now owns 15,690 shares of the company's stock worth $42,000 after purchasing an additional 5,951 shares during the last quarter. Institutional investors own 5.04% of the company's stock.

About Amprius Technologies

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.

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