Amprius Technologies (NYSE:AMPX) Posts Quarterly Earnings Results, Hits Expectations

Amprius Technologies (NYSE:AMPX - Get Free Report) released its earnings results on Thursday. The company reported ($0.11) EPS for the quarter, meeting analysts' consensus estimates of ($0.11), Zacks reports. Amprius Technologies had a negative return on equity of 56.74% and a negative net margin of 406.23%. The business had revenue of $2.34 million for the quarter, compared to analysts' expectations of $1.70 million. During the same quarter in the prior year, the firm earned ($0.11) earnings per share.

Amprius Technologies Trading Down 11.5 %

NYSE AMPX traded down $0.26 on Friday, hitting $1.97. The company's stock had a trading volume of 703,360 shares, compared to its average volume of 614,989. Amprius Technologies has a 52-week low of $1.56 and a 52-week high of $10.63. The firm has a market cap of $179.99 million, a P/E ratio of -4.57 and a beta of 2.96. The company's 50-day simple moving average is $2.29 and its 200 day simple moving average is $3.36.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AMPX shares. Alliance Global Partners dropped their target price on Amprius Technologies from $10.00 to $9.00 and set a "buy" rating for the company in a research report on Friday. Oppenheimer reissued an "outperform" rating and issued a $15.00 price target on shares of Amprius Technologies in a research note on Friday, March 22nd. B. Riley reduced their price objective on Amprius Technologies from $8.00 to $6.00 and set a "buy" rating on the stock in a research note on Tuesday, April 30th. HC Wainwright reissued a "buy" rating and issued a $10.00 target price on shares of Amprius Technologies in a research note on Thursday, April 4th. Finally, Roth Mkm initiated coverage on Amprius Technologies in a research report on Thursday, January 11th. They set a "buy" rating and a $10.00 price target on the stock. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $10.00.

Insider Activity at Amprius Technologies

In other Amprius Technologies news, insider Jonathan Bornstein sold 109,800 shares of the company's stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $2.92, for a total value of $320,616.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.90% of the stock is owned by corporate insiders.

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.