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

Altus Power, Inc. (NYSE:AMPS) – Analysts at B. Riley cut their Q1 2024 EPS estimates for shares of Altus Power in a research report issued on Monday, April 22nd. B. Riley analyst C. Souther now forecasts that the company will post earnings per share of ($0.08) for the quarter, down from their previous forecast of ($0.06). B. Riley has a “Buy” rating and a $7.00 price target 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 issued its earnings results on Thursday, March 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.02). Altus Power had a negative return on equity of 0.30% and a negative net margin of 6.03%. The business had revenue of $34.19 million for the quarter, compared to the consensus estimate of $42.85 million.

Several other brokerages have also recently issued reports on AMPS. Maxim Group started coverage on shares of Altus Power in a report on Wednesday, April 10th. They set a “buy” rating and a $7.00 target price on the stock. Roth Mkm dropped their target price on shares of Altus Power from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, March 15th. Finally, Morgan Stanley restated an “overweight” rating and issued a $9.00 price target on shares of Altus Power in a report on Thursday, April 11th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $8.25.

Altus Power Stock Down 3.7 %

Shares of Altus Power stock opened at $3.68 on Wednesday. The company has a debt-to-equity ratio of 2.33, a current ratio of 2.15 and a quick ratio of 2.15. Altus Power has a 1 year low of $3.57 and a 1 year high of $7.28. The firm’s 50-day moving average is $5.36 and its two-hundred day moving average is $5.56. The stock has a market cap of $585.41 million, a price-to-earnings ratio of -52.56 and a beta of 0.88.

Hedge Funds Weigh In On Altus Power

A number of institutional investors have recently bought and sold shares of the business. Bouvel Investment Partners LLC raised its position in Altus Power by 2.8% during the 1st 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 during the last quarter. Triad Investment Management increased its holdings in shares of Altus Power by 48.2% during the 1st quarter. Triad Investment Management now owns 58,023 shares of the company’s stock valued at $277,000 after purchasing an additional 18,879 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Altus Power by 805.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,193 shares of the company’s stock valued at $76,000 after purchasing an additional 9,957 shares in the last quarter. Olympiad Research LP lifted its stake in shares of Altus Power by 8.2% in the 4th quarter. Olympiad Research LP now owns 62,704 shares of the company’s stock valued at $428,000 after purchasing an additional 4,726 shares during the period. Finally, Edmond DE Rothschild Holding S.A. lifted its stake in shares of Altus Power by 1.0% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 310,000 shares of the company’s stock valued at $2,117,000 after purchasing an additional 3,000 shares during the period. 46.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Lars Norell sold 40,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $5.58, for a total value of $223,200.00. Following the completion of the transaction, the chief executive officer now directly owns 21,654,907 shares of the company’s stock, valued at approximately $120,834,381.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Lars Norell sold 40,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $5.58, for a total value of $223,200.00. Following the completion of the transaction, the chief executive officer now directly owns 21,654,907 shares of the company’s stock, valued at approximately $120,834,381.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anthony Savino sold 34,725 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $7.02, for a total transaction of $243,769.50. Following the completion of the transaction, the insider now directly owns 3,907,536 shares of the company’s stock, valued at $27,430,902.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 83,673 shares of company stock worth $530,948. Corporate insiders own 24.30% of the company’s stock.

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.