Roth Capital Increases Earnings Estimates for Altus Power

Altus Power, Inc. (NYSE:AMPS) – Investment analysts at Roth Capital upped their FY2024 earnings per share estimates for shares of Altus Power in a report released on Wednesday, November 13th. Roth Capital analyst J. Clare now forecasts that the company will post earnings of $0.12 per share for the year, up from their previous estimate of $0.05. The consensus estimate for Altus Power’s current full-year earnings is $0.08 per share. Roth Capital also issued estimates for Altus Power’s Q4 2024 earnings at ($0.06) EPS, Q1 2025 earnings at ($0.07) EPS, Q4 2025 earnings at ($0.05) EPS, FY2025 earnings at ($0.09) EPS and FY2026 earnings at ($0.11) EPS.

A number of other equities analysts have also issued reports on the stock. Maxim Group dropped their target price on shares of Altus Power from $5.50 to $4.50 and set a “buy” rating on the stock in a research report on Monday, August 12th. Citigroup cut their price objective on shares of Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Roth Mkm reissued a “buy” rating and set a $4.50 target price on shares of Altus Power in a research report on Wednesday, October 16th. Morgan Stanley cut Altus Power from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $8.00 to $4.00 in a report on Wednesday, August 21st. Finally, UBS Group decreased their price objective on Altus Power from $5.50 to $5.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $5.81.

Altus Power Stock Performance

Shares of NYSE AMPS opened at $4.10 on Friday. Altus Power has a 12 month low of $2.71 and a 12 month high of $7.28. The company has a quick ratio of 0.91, a current ratio of 0.60 and a debt-to-equity ratio of 2.10. The company has a market cap of $659.24 million, a P/E ratio of 18.64 and a beta of 0.94. The business’s 50 day moving average is $3.33 and its two-hundred day moving average is $3.70.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Encompass Capital Advisors LLC boosted its stake in shares of Altus Power by 1.2% in the 2nd quarter. Encompass Capital Advisors LLC now owns 4,628,613 shares of the company’s stock valued at $18,144,000 after purchasing an additional 53,031 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Altus Power by 37.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,974,269 shares of the company’s stock worth $11,662,000 after purchasing an additional 807,071 shares in the last quarter. Swedbank AB bought a new position in Altus Power during the 1st quarter valued at about $12,589,000. abrdn plc boosted its position in Altus Power by 8.7% in the third quarter. abrdn plc now owns 1,444,400 shares of the company’s stock valued at $4,593,000 after buying an additional 115,300 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in Altus Power by 112.1% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 1,411,042 shares of the company’s stock worth $5,531,000 after buying an additional 745,810 shares during the last quarter. 46.55% of the stock is currently owned by institutional investors and hedge funds.

Altus Power Company Profile

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.