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Amplitech Group Up 3.05% To $2.70 After Earnings Beat

Monday, August 15, 2022 12:29 PM | InvestorsObserver Analysts

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Amplitech Group Up 3.05% To $2.70 After Earnings Beat

Amplitech Group Inc (AMPG) surpassed earnings projections on 8/15/2022 for Q2 2022.

Analyst expectations for Amplitech Group earnings per share (EPS) were at a loss of $0.05 per share, with the company surpassing those estimates with a reported EPS loss of $0.04 per share, leading to a positive surprise of $0.01 per share (20%). Amplitech Group's earnings rose 50% year-over-year as the firm reported an EPS loss of $0.08 per share in its year-ago quarter. The positive annual growth shows the Technology company is performing well amid recent economic conditions.

Revenues were upbeat at $4.6 million. That is an increase of 347.66% in revenues from the year-ago report and is 11.80% higher than consensus estimates set at $4.1 million.

The stock is up 3.05% to $2.70 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Amplitech Group has performed a little below average during the past few months. Before the report, Amplitech Group received a Long-Term Technical Rank by InvestorsObserver of 47, putting it in the bottom half of stocks. The firm was recently trading at a 52-week low of $1.62 on June 13, 2022 and set a 52-week high on November 4, 2021 at $5.61.

AmpliTech Group Inc is incorporated under the laws of the Nevada on December 30, 2010. The Company develops, engineers and assembles micro-wave component based amplifiers that meet individual customer specifications. Its products consist of RF amplifiers and related subsystems, operating at multiple frequencies from 50kHz to 44GHz, including Low Noise Amplifiers, Medium Power Amplifiers, oscillators, filters, and custom assemblies such as MMIC (Monolithic Microwave Integrated Circuit) and MIC (Microwave Integrated Circuit) designs. It also offer non-recurring engineering services on a project-by-project basis, for a predetermined fixed contractual amount, or on a time plus material basis. It also operates as a designer, manufacturer and distributor of cryogenic microwave amplifiers, RF designs and applications for Wireless Networks and the future of Wireless Communication.

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