Q1 2024 EPS Estimates for Altus Power, Inc. (NYSE:AMPS) Lowered by Analyst

Altus Power, Inc. (NYSE:AMPS) – B. Riley dropped their Q1 2024 EPS estimates for shares of Altus Power in a report released on Monday, April 22nd. B. Riley analyst C. Souther now forecasts that the company will earn ($0.08) per share for the quarter, down from their previous forecast of ($0.06). B. Riley currently has a “Buy” rating and a $7.00 price objective on the stock. The consensus estimate for Altus Power’s current full-year earnings is ($0.10) per share. B. Riley also issued estimates for Altus Power’s Q2 2024 earnings at $0.02 EPS, Q3 2024 earnings at $0.04 EPS, Q4 2024 earnings at ($0.07) EPS, FY2024 earnings at ($0.09) EPS and FY2025 earnings at ($0.08) EPS.

Altus Power (NYSE:AMPS) last announced its quarterly earnings results on Thursday, March 14th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). Altus Power had a negative net margin of 6.03% and a negative return on equity of 0.30%. The business had revenue of $34.19 million during the quarter, compared to the consensus estimate of $42.85 million.

Other research analysts also recently issued research reports about the stock. Maxim Group assumed coverage on shares of Altus Power in a report on Wednesday, April 10th. They issued a “buy” rating and a $7.00 price target for the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $9.00 price target on shares of Altus Power in a report on Thursday, April 11th. Finally, Roth Mkm lowered their price target on shares of Altus Power from $8.00 to $7.00 and set a “buy” rating for the company in a report on Friday, March 15th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $8.25.

Altus Power Stock Up 5.5 %

Shares of NYSE:AMPS opened at $3.82 on Wednesday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 2.33. Altus Power has a 12 month low of $3.57 and a 12 month high of $7.28. The company has a 50-day moving average price of $5.42 and a 200 day moving average price of $5.57. The company has a market cap of $607.69 million, a price-to-earnings ratio of -54.56 and a beta of 0.88.

Hedge Funds Weigh In On Altus Power

A number of large investors have recently bought and sold shares of the business. Bouvel Investment Partners LLC raised its stake in Altus Power by 2.8% in the first quarter. Bouvel Investment Partners LLC now owns 305,673 shares of the company’s stock worth $1,461,000 after buying an additional 8,295 shares in the last quarter. Triad Investment Management raised its stake in Altus Power by 48.2% in the first quarter. Triad Investment Management now owns 58,023 shares of the company’s stock worth $277,000 after buying an additional 18,879 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Altus Power by 805.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,193 shares of the company’s stock worth $76,000 after buying an additional 9,957 shares in the last quarter. Olympiad Research LP raised its stake in Altus Power by 8.2% in the fourth quarter. Olympiad Research LP now owns 62,704 shares of the company’s stock worth $428,000 after buying an additional 4,726 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. raised its stake in Altus Power by 1.0% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 310,000 shares of the company’s stock worth $2,117,000 after buying an additional 3,000 shares in the last quarter. Institutional investors own 46.55% of the company’s stock.

Insider Buying and Selling at Altus Power

In related news, CEO Gregg J. Felton purchased 12,500 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was purchased at an average price of $4.78 per share, with a total value of $59,750.00. Following the completion of the purchase, the chief executive officer now owns 11,894,603 shares of the company’s stock, valued at approximately $56,856,202.34. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Anthony Savino sold 34,725 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $7.02, for a total value of $243,769.50. Following the completion of the transaction, the insider now owns 3,907,536 shares of the company’s stock, valued at $27,430,902.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gregg J. Felton acquired 12,500 shares of Altus Power stock in a transaction that occurred on Thursday, March 28th. The stock was acquired at an average cost of $4.78 per share, with a total value of $59,750.00. Following the purchase, the chief executive officer now directly owns 11,894,603 shares of the company’s stock, valued at $56,856,202.34. The disclosure for this purchase can be found here. Insiders sold 83,673 shares of company stock worth $530,948 over the last 90 days. Company insiders own 24.30% of the company’s stock.

About Altus Power

Altus Power, Inc, a clean electrification company, develops, owns, constructs, and operates roof, ground, and carport-based photovoltaic solar energy generation and storage systems. It serves commercial, industrial, public sector, and community solar customers. Altus Power, Inc was founded in 2013 and is headquartered in Stamford, Connecticut.