Northland Doubles Amprius Technologies (AMPX) PT to $20 Following New CFO Appointment

Amprius Technologies Inc. (NYSE:AMPX) is one of the best hot stocks to invest in. On October 7, Northland raised the firm’s price target on Amprius Technologies to $20 from $10, with an Outperform rating on the shares after the company announced a new CFO, Ricardo Rodriguez, who is expected to help Amprius handle the exponential growth that it is likely facing.

Northland remains comfortable with the firm’s near-term and long-term financial forecasts. Management anticipates a sequential revenue increase in Q3 2025, as more of its existing 320+ customers are expected to transition from the qualification stage to placing revenue-generating production orders.

Amprius Technologies made $15.1 million in Q2 sales, which was a 34% sequential increase and a 350% year-over-year rise. Furthermore, Amprius achieved positive gross margins for the first time due to the success of its Cyorp product, which has maintained positive gross margins since its inception. This growth was also supported by customer expansion, with the company shipping to 93 customers in Q2, 43 of which were new to the platform.

Amprius Technologies Inc. (NYSE:AMPX) develops, manufactures, and markets lithium-ion batteries for mobility applications. The company offers silicon anode lithium-ion batteries under the SiCore and SiMaxx product platforms.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.