Amprius Technologies (NYSE:AMPX) Shares Up 7.2% on Earnings Beat

Key Points

• Amprius Technologies shares rose 7.2% after the company reported quarterly earnings of $0.02 per share, beating the consensus estimate of a $0.03 loss, while revenue of $34.03 million exceeded expectations of $29.30 million.
• Analyst sentiment is mixed but leans positive: the stock has a “Moderate Buy” consensus rating and an average price target of $22.50, despite some recent downgrades to “strong sell.”
• Insiders sold 310,144 shares worth roughly $5.05 million over the past three months, though the reported sales were made to cover tax obligations tied to vested equity awards.

Amprius Technologies, Inc. (NYSE:AMPX - Get Free Report) shot up 7.2% during trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $11.03 and last traded at $10.8510. 8,048,804 shares changed hands during mid-day trading, a decline of 4% from the average session volume of 8,394,656 shares. The stock had previously closed at $10.12.

The company reported $0.02 earnings per share for the quarter, beating analysts' consensus estimates of ($0.03) by $0.05. The firm had revenue of $34.03 million during the quarter, compared to analyst estimates of $29.30 million. Amprius Technologies had a negative return on equity of 17.48% and a negative net margin of 43.98%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AMPX shares. Roth Capital reiterated a "buy" rating on shares of Amprius Technologies in a report on Friday, May 8th. Clear Str assumed coverage on Amprius Technologies in a report on Tuesday, June 2nd. They set a "strong-buy" rating and a $33.00 price target on the stock. Northland Securities set a $24.00 price target 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 research report on Friday, July 17th. Finally, Zacks Research cut Amprius Technologies from a "hold" rating to a "strong sell" rating in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, Amprius Technologies has an average rating of "Moderate Buy" and an average price target of $22.50.

Insider Buying and Selling

In other news, CTO Constantin Ionel Stefan sold 28,812 shares of the company's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $14.79, for a total value of $426,129.48. Following the completion of the transaction, the chief technology officer owned 804,518 shares of the company's stock, valued at $11,898,821.22. This represents a 3.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kang Sun sold 67,796 shares of the company's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $14.79, for a total value of $1,002,702.84. Following the completion of the transaction, the director owned 1,280,854 shares of the company's stock, valued at $18,943,830.66. The trade was a 5.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 310,144 shares of company stock valued at $5,049,997 over the last three months. 5.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amprius Technologies

Institutional investors have recently added to or reduced their stakes in the company. EWA LLC raised its holdings in Amprius Technologies by 3.8% during the 4th quarter. EWA LLC now owns 19,958 shares of the company's stock valued at $157,000 after buying an additional 723 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Amprius Technologies by 14.7% during the 3rd 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 period. Graham Capital Management L.P. boosted its stake in shares of Amprius Technologies by 3.2% during the 4th quarter. Graham Capital Management L.P. now owns 49,596 shares of the company's stock worth $391,000 after purchasing an additional 1,551 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Amprius Technologies by 5.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 33,280 shares of the company's stock valued at $263,000 after purchasing an additional 1,621 shares during the last quarter. Finally, First Trust Advisors LP raised its position in Amprius Technologies by 6.7% in the 4th quarter. First Trust Advisors LP now owns 32,744 shares of the company's stock worth $258,000 after purchasing an additional 2,066 shares during the period. Hedge funds and other institutional investors own 5.04% of the company's stock.

Amprius Technologies Stock Up 7.2%

The firm has a market cap of $1.54 billion, a P/E ratio of -36.17 and a beta of 2.34. The company's 50 day simple moving average is $14.10 and its 200-day simple moving average is $14.92.

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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