Recommendation: Speculative Buy
| Entry Date | Symbol | Recommendation | Entry Price (USD) | Target 1 (USD) | Target 2 (USD) | Holding Duration | Potential Upside* |
|---|---|---|---|---|---|---|---|
| 23 Apr, 25 | AMPX | Speculative Buy | USD 2.4 | USD 2.6 | USD 2.7 | 6 days | 12.5% |
*Potential Upside (%) indicates the expected percentage increase from the Entry Price to the Target 2 Price.
Data Powered by EOD Historical Data (“EODHD”).
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. The company was incorporated in 2008 and is headquartered in Fremont, California.
Revenue Growth: Q4 2024 revenue increased by 20% year-over-year, reaching $1.8 million
Facility Completion Ahead of Schedule: The Brighton facility was constructed in just 14 months, faster than initially planned.
Increased Operating Expenses: Operating expenses rose by 27%, from $9.3 million in Q3 to $11.8 million in Q4
Gross Margin Decline: Gross margin dropped significantly to 1%, down from 27% in the previous quarter
Amprius faces a critical investment risk stemming from its high cash burn and limited current revenue, which could pressure liquidity if commercialization and revenue scaling are delayed
| Entry Price | Support* | Target 1 | Target 2 |
|---|---|---|---|
| 2.4 | 2.2 | 2.6 | 2.7 |
Data Source: REFINITIV, Analysis: StockNextt
*Support can be considered as an indicative stop-loss, and if prices move below that level on closing basis individuals may evaluate exiting the position depending on their risk appetite, previous holdings, and other factors considered. The support and resistance levels may need to be re-evaluated within 4-6 weeks’ time frame depending on the stock price movements from the date of recommendation on the stock.
Strategic Milestone Achievements: Amprius Technologies achieved several key milestones in the fourth quarter of 2024, further solidifying its position in the advanced battery technology sector. The company completed the construction of its Amprius Fab in Brighton, Colorado, within a span of 14 months—ahead of its projected timeline. This facility, which began equipment installation in January 2024, represents the company’s commitment to scaling its proprietary silicon anode lithium-ion battery technology. The successful completion of this facility not only demonstrates operational efficiency but also marks a significant step toward commercial-scale production.
Production and Operational Ramp-Up: During Q4, the company finalized its Phase 1 capacity target of 2 MWh at the new Brighton facility. It also started building out Phase 2 to expand capacity by an additional 10 MWh. Equipment for Phase 2 is scheduled to arrive by the second quarter of 2025. The gradual increase in production capabilities is designed to meet the rising demand from customers across aerospace, defense, and other specialized applications. Furthermore, the new production lines are expected to enhance throughput and reliability, ensuring the company remains competitive in a rapidly evolving energy storage market.
Customer and Product Development Initiatives: Amprius made considerable strides in its customer programs and product innovation. The company entered into agreements with key aerospace and defense companies, further validating the technological superiority of its silicon anode batteries. During the quarter, Amprius advanced two commercial aviation programs into the development phase and launched a new product offering—a 500 Wh/kg battery, which sets a new benchmark in energy density. The firm also delivered the first batch of its 400 Wh/kg cells to select customers, highlighting its transition from R&D to commercialization.
Financial Performance Overview: From a financial perspective, Amprius reported Q4 2024 revenue of $1.8 million, reflecting a 20% increase year-over-year, though down sequentially from Q3. Gross margin declined to 1%, mainly due to the transition costs associated with ramping up the Brighton facility. The company ended the quarter with $45 million in cash and equivalents, providing sufficient liquidity to fund its near-term strategic initiatives. However, operational expenses rose to $11.8 million, up from $9.3 million in the previous quarter, primarily due to investments in personnel and infrastructure.
Strategic Partnerships and Technology Validation: Amprius secured critical customer wins and validations, including a second selection by the U.S. Army for its silicon anode cells under a development agreement. Such milestones indicate strong institutional confidence in the company’s technology. Additionally, Amprius collaborated with Airbus on advanced testing and qualification programs, positioning itself as a key player in next-generation aerospace battery solutions. These relationships are expected to translate into recurring commercial revenue as production scales.
Outlook and Future Objectives: Looking forward, Amprius is focused on executing its capacity expansion plan, validating its batteries with existing and new customers, and transitioning from pilot-scale to commercial-scale manufacturing. With a growing customer base and accelerating interest in high-performance batteries for aviation and defense, the company believes it is well-positioned for long-term growth. Management reiterated its commitment to achieving positive gross margins and scaling operations efficiently over the next 12–24 months.
Technical Commentary:
AMPX's stock price is showing resilience at its support levels and has recently moved up, indicating the possibility of continued upward momentum in the near future. The 14-period RSI is approaching the midpoint, which adds to the positive outlook. Furthermore, the stock is currently trading below both its 21-day and 50-day Simple Moving Averages, suggesting it may regain these levels in the near term.
As per the above-mentioned price action, recent key business and financial updates, momentum in the stock over the last month, and technical indicators analysis, a ‘Speculative Buy’ rating has been given to Amprius Technologies, Inc. (NYSE: AMPX) at its current market price of USD 2.40 as of April 23, 2025 (6:45 am PDT).
Data Powered by EOD Historical Data (“EODHD”).
Sector: Industrials Industry: Electrical Equipment & Parts
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| AMPX Amprius Technologies Inc. |
-0.13 5.10% | 2.42 | - | - | 13.38 | 3.87 | 12.73 | -34.4896 |
| ABLZF ABB Ltd |
- -% | 58.61 | 21.23 | 21.01 | 2.58 | 6.22 | 2.64 | 14.26 |
| ABBNY ABB Ltd |
-0.12 0.21% | 57.50 | 20.83 | 20.28 | 2.54 | 6.00 | 2.64 | 14.26 |
| MIELF Mitsubishi Electric Corporation |
- -% | 20.82 | 16.87 | 14.53 | 0.0059 | 1.21 | 0.0052 | 0.05 |
| MIELY Mitsubishi Electric Corp ADR |
-0.27 0.66% | 40.40 | 16.50 | 14.88 | 0.0058 | 1.23 | 0.0052 | 0.05 |
Data Powered by EOD Historical Data (“EODHD”).
Markets are trading in a highly volatile zone currently due to certain macro-economic issues and prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.
Related Risk: This report may be looked at from a high-risk perspective and a recommendation is provided for a short duration. This report is solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Target: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Target 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Target 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
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