Sandra Wallach, the Chief Financial Officer of Amprius Technologies, Inc. (NYSE:AMPX), recently sold 17,158 shares of the company's common stock. The shares were sold at an average price of $1.9646, amounting to a total transaction value of $33,708. The sales were executed on November 21, 2024, as part of non-discretionary sell-to-cover arrangements mandated by the company to fund tax withholding obligations related to the vesting of restricted stock units.
Following this transaction, Wallach holds 696,142 shares, which include 609,131 restricted stock units. These units represent a contingent right to receive one share of Amprius Technologies' common stock per unit, subject to specific vesting schedules and conditions.
In other recent news, Amprius Technologies, a leader in silicon anode battery technology, reported strong Q3 growth, with revenues more than doubling from the previous quarter and nearly tripling year-over-year. The company introduced the SiCore product line and engaged with 53 new customers, bringing the total to over 175 for the year. Amprius also signed significant contracts worth $20 million for light electric vehicle applications and expanded manufacturing capacities, with 800 megawatt-hours of pouch cell and over one gigawatt-hour of cylindrical cell production available.
The company's gross margin improved to negative 65%, a substantial increase from negative 195% in the previous quarter, even though the net loss for the quarter was reported at $10.9 million. Amprius anticipates the electric aircraft and eVTOL battery market to reach $50 billion by 2030, and the light electric vehicle market to grow to $206 billion by 2032.
In terms of future developments, Amprius is planning to ramp up production in new manufacturing facilities in Brighton, Colorado, and Fremont, California, with a target of up to 2 megawatt-hours by 2025. These are the latest developments for Amprius Technologies as it continues to innovate and expand its customer base in the growing electric mobility market.
InvestingPro Insights
As Amprius Technologies' CFO Sandra Wallach adjusts her holdings, investors might find additional context from recent financial data illuminating. According to InvestingPro, Amprius Technologies has shown impressive revenue growth, with a 196.22% increase in the last twelve months as of Q3 2024. This aligns with an InvestingPro Tip indicating that analysts anticipate sales growth in the current year.
Despite this growth, the company faces challenges. An InvestingPro Tip notes that Amprius is quickly burning through cash, which could be a concern for investors considering the recent insider sale. The company's financials reflect this, with an operating income margin of -253.14% in the last twelve months, suggesting significant operational costs relative to revenue.
The stock's performance has been volatile, with a strong 85.05% return over the last three months, but a -51.47% return over the past year. This volatility is highlighted by another InvestingPro Tip, which states that the stock generally trades with high price volatility.
For investors seeking a more comprehensive analysis, InvestingPro offers 15 additional tips for Amprius Technologies, providing a deeper understanding of the company's financial health and market position.
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