S&P 500   5,130.95
DOW   38,989.83
QQQ   444.02
5 Under-the-Radar Artificial Intelligence (AI) Stocks
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
How major US stock indexes fared Monday, 3/4/2024
Macy's, United Rentals rise; Apple, Spirit Airlines fall Monday, 3/4/2024
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
DeSantis names Disney World district administrator to run elections in Democratic Orange County
Stock market today: Wall Street inches lower as retailers post holiday numbers
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
Closing prices for crude oil, gold and other commodities
Ohio foundation begins process to distribute millions in opioid settlement money
S&P 500   5,130.95
DOW   38,989.83
QQQ   444.02
5 Under-the-Radar Artificial Intelligence (AI) Stocks
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
How major US stock indexes fared Monday, 3/4/2024
Macy's, United Rentals rise; Apple, Spirit Airlines fall Monday, 3/4/2024
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
DeSantis names Disney World district administrator to run elections in Democratic Orange County
Stock market today: Wall Street inches lower as retailers post holiday numbers
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
Closing prices for crude oil, gold and other commodities
Ohio foundation begins process to distribute millions in opioid settlement money
S&P 500   5,130.95
DOW   38,989.83
QQQ   444.02
5 Under-the-Radar Artificial Intelligence (AI) Stocks
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
How major US stock indexes fared Monday, 3/4/2024
Macy's, United Rentals rise; Apple, Spirit Airlines fall Monday, 3/4/2024
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
DeSantis names Disney World district administrator to run elections in Democratic Orange County
Stock market today: Wall Street inches lower as retailers post holiday numbers
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
Closing prices for crude oil, gold and other commodities
Ohio foundation begins process to distribute millions in opioid settlement money
S&P 500   5,130.95
DOW   38,989.83
QQQ   444.02
5 Under-the-Radar Artificial Intelligence (AI) Stocks
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
How major US stock indexes fared Monday, 3/4/2024
Macy's, United Rentals rise; Apple, Spirit Airlines fall Monday, 3/4/2024
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
DeSantis names Disney World district administrator to run elections in Democratic Orange County
Stock market today: Wall Street inches lower as retailers post holiday numbers
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
Closing prices for crude oil, gold and other commodities
Ohio foundation begins process to distribute millions in opioid settlement money

Amprius Technologies amps the market and enters a reversal

Amprius Technologies stock price

Key Points

  • Amprius Technologies opened its Amprius Labs Facility, expanding capacity by 10X. 
  • Analysts forecast revenue to grow by 100% in 2024 and are likely cautious in their estimates. 
  • The lowest price target for the stock is 100% above recent action providing a tempting target for investors. 
  • 5 stocks we like better than Amprius Technologies

Amprius Technologies NYSE: AMPX stock price action over the past year or so is not surprising. It is an early-stage tech start-up whose IPO left little meat on the bone for new investors. However, unlike most tech start-ups, this one has a viable, market-disrupting technology that is increasingly in demand. Amprius Technologies makes an advanced lithium-ion EV battery with a silicon nanowire anode that provides double the energy density of standard batteries with high discharge rates. 

These batteries are well-suited to all EV transportation, including air transportation, which has maxed out the company’s production. Customers like Airbus EPA: AIR and AeroVironment NASDAQ: AVAV use the batteries to advance their eVTOL and drone technology and can account for nearly 100% of the company’s current production. That’s why it expanded its Freemont facility and is working on a gigafactory in Colorado.

Amprius shares surge more than 40% after Fremont grand opening 

Amprius Technologies shares soared as much as 60% the week after Christmas. This is no ordinary Santa Claus Rally due to the timing of the Fremont, California, grand opening the week before. The grand opening expands production by 10X and is a significant milestone on the path to gigawatt-hour production capacity. The company expects its gigafactory to be operational in 2025, putting it on a solid trajectory for hyper-growth. 

Among the highlights of the event are presentations by Amprius clients. Airbus and AeroVironment provided their seal of approval, aiding the company in establishing credibility within the marketplace. Takeaways from the presentations include the importance of Amprius Technologies batteries to all aspects of aviation, including high-altitude and defense. Teledyne FLIR NASDAQ: FLIR demonstrated its Black Hornet 4, an advanced personal-sized drone used to aid situational awareness for soldiers. It features extended range and advanced imaging technologies reliant on Amprius batteries' density and discharge rates. 


Amprius is in a hyper-growth phase; 2024 estimates are too low

Amprius's Q3 results were impressive, with its first ramp in battery production delivering 240% YOY revenue growth. Growth is expected to accelerate in Q4 to 270% and may easily exceed that figure if the company can make the units. Growth is expected to slow to about 100% in fiscal 2024, at the consensus estimate in early January, but there are two things to consider. The first is that Amprius Labs' opening expands production capacity by 10X in a world where existing customers had already maxed them out

Existing demand is compounded by a growing backlog of new clients ramping production and use. Among them are a “premier eVTOL” manufacturer, Amprius Technologies words, which may be Archer Aviation NASDAQ: ACHR or Joby Aviation NYSE: JOBY, as well as Prismatic LTD. Prismatic LTD develops and deploys an ultra-high altitude solar-powered platform reliant on batteries and is only one niche player in the broader EV aviation arena. Because demand for Amprius batteries is so broad, ramping production at a brisk pace, and having a deep moat with its technology, it should easily outpace the consensus for next year. 

Analysts have a robust outlook for Amprius Technologies

Amprius doesn’t have dozens of analysts tracking it, but there are enough with current research to impact the price action. The six tracked by Marketbeat.com rate the stock a consensus Moderate Buy, with several analysts initiating in December 2023. The consensus price is about 120% above the recent price action, and the low target, which matters most today, is about double. Assuming the analysts stand firm and keep the low end of the range where it is, this market could easily double in the next few months. 

The chart shows a textbook Head & Shoulders bottom and reversal confirmed by the post-grand opening price surge. The market closed with a 40% gain, creating a solid green candle breaking above the pattern’s neckline. The move is backed up by strong indicators that leave ample room for the market to run. Stochastic, specifically, shows a strong technical buy signal with its bullish crossovers converging with the pattern low and break-out point. Assuming the market follows through on the signal, it could advance anywhere from $2.75 to 100%. 

AMPX stock chart

→ Critical asset just had biggest fall on record (From Stansberry Research) (Ad)

Should you invest $1,000 in Amprius Technologies right now?

Before you consider Amprius Technologies, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Amprius Technologies wasn't on the list.

While Amprius Technologies currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Investing Strategies To Help Grow Your Retirement Income Cover

Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.

Get This Free Report

Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Airbus (AIR)
0 of 5 stars
€155.36+1.8%N/AN/A€123.75
Teledyne FLIR (FLIR)
0.5863 of 5 stars
$57.34flat1.19%54.61N/A
AeroVironment (AVAV)
2.2767 of 5 stars
$130.65+1.5%N/A-26.99Moderate Buy$127.00
Archer Aviation (ACHR)
2.4657 of 5 stars
$4.48-1.5%N/A-2.59Buy$9.60
Joby Aviation (JOBY)
1.9228 of 5 stars
$5.36-2.1%N/A-6.61Hold$7.00
Amprius Technologies (AMPX)
2.2034 of 5 stars
$2.93-5.3%N/A-7.50Moderate Buy$11.40
Compare These Stocks  Add These Stocks to My Watchlist 

Thomas Hughes

About Thomas Hughes

  • tmhughes.writeon@gmail.com

Contributing Author

Technical and Fundamental Analysis

Experience

Thomas Hughes has been a contributing writer for MarketBeat since 2019.

Areas of Expertise

Technical analysis, the S&P 500; retail, consumer, consumer staples, dividends, high-yield, small caps, technology, economic data, oil, cryptocurrencies

Education

Associate of Arts in Culinary Technology

Past Experience

Market watcher, trader and investor for numerous websites. Founded Passive Market Intelligence LLC to provide market research insights. 


Featured Articles and Offers

Amprius Technologies Stock Amps the Market

Amprius Technologies Stock Amps the Market

Amprius Technologies' market-disrupting tech, increasingly in demand, has sparked a surge in stock prices and caught the attention of analysts.

Search Headlines: