Amprius Technologies (NYSE:AMPX) Trading 8.1% Higher After Earnings Beat
by Michael Walen · The Markets DailyAmprius Technologies, Inc. (NYSE:AMPX – Get Free Report) shot up 8.1% during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $12.78 and last traded at $12.57. 9,278,857 shares changed hands during trading, an increase of 15% from the average session volume of 8,101,388 shares. The stock had previously closed at $11.63.
The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.03. Amprius Technologies had a negative return on equity of 38.85% and a negative net margin of 53.16%.The company had revenue of $25.23 million for the quarter, compared to analysts’ expectations of $22.91 million.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on the stock. Oppenheimer reissued an “outperform” rating and issued a $17.00 target price on shares of Amprius Technologies in a report on Tuesday, December 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Amprius Technologies in a report on Wednesday, January 21st. Cantor Fitzgerald lifted their target price on Amprius Technologies from $12.00 to $16.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Craig Hallum began coverage on Amprius Technologies in a report on Monday, February 23rd. They set a “buy” rating and a $17.00 price target for the company. Finally, Needham & Company LLC began coverage on Amprius Technologies in a research note on Thursday, January 29th. They issued a “buy” rating and a $20.00 price objective on the stock. Eight analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Amprius Technologies has an average rating of “Moderate Buy” and an average price target of $16.63.
Get Our Latest Report on Amprius Technologies
Insider Activity at Amprius Technologies
In other Amprius Technologies news, Director Kang Sun sold 61,251 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $10.16, for a total transaction of $622,310.16. Following the sale, the director directly owned 1,342,400 shares in the company, valued at $13,638,784. This represents a 4.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Constantin Ionel Stefan sold 25,366 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $10.16, for a total value of $257,718.56. Following the completion of the sale, the chief technology officer directly owned 723,330 shares of the company’s stock, valued at $7,349,032.80. The trade was a 3.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,392,269 shares of company stock worth $26,384,359 over the last three months. 12.80% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of AMPX. Vanguard Group Inc. raised its stake in shares of Amprius Technologies by 9.5% in the fourth quarter. Vanguard Group Inc. now owns 7,128,657 shares of the company’s stock valued at $56,245,000 after acquiring an additional 616,037 shares during the period. Geode Capital Management LLC grew its holdings in Amprius Technologies by 10.5% during the 4th quarter. Geode Capital Management LLC now owns 2,678,417 shares of the company’s stock valued at $21,137,000 after purchasing an additional 253,529 shares during the last quarter. State Street Corp raised its position in Amprius Technologies by 16.6% in the 4th quarter. State Street Corp now owns 2,553,710 shares of the company’s stock worth $20,149,000 after purchasing an additional 363,928 shares during the period. Invesco Ltd. raised its position in Amprius Technologies by 113.3% in the 3rd quarter. Invesco Ltd. now owns 2,379,384 shares of the company’s stock worth $25,031,000 after purchasing an additional 1,263,846 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Amprius Technologies by 23.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,194,841 shares of the company’s stock worth $17,317,000 after purchasing an additional 410,724 shares during the last quarter. 5.04% of the stock is owned by hedge funds and other institutional investors.
Amprius Technologies Price Performance
The firm has a market cap of $1.64 billion, a PE ratio of -48.35 and a beta of 3.04. The company has a 50-day simple moving average of $10.51 and a 200-day simple moving average of $10.58.
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.