FY2022 EPS Estimates for Altus Power, Inc. Raised by B. Riley (NYSE:AMPS)

Altus Power, Inc. (NYSE:AMPSGet Rating) – Stock analysts at B. Riley increased their FY2022 EPS estimates for Altus Power in a research note issued to investors on Tuesday, November 15th. B. Riley analyst C. Souther now anticipates that the company will post earnings of ($0.02) per share for the year, up from their prior estimate of ($0.04). The consensus estimate for Altus Power’s current full-year earnings is $0.02 per share. B. Riley also issued estimates for Altus Power’s Q4 2022 earnings at ($0.02) EPS, Q1 2023 earnings at ($0.04) EPS, Q4 2023 earnings at ($0.02) EPS and FY2023 earnings at $0.00 EPS.

Altus Power (NYSE:AMPSGet Rating) last announced its earnings results on Monday, August 15th. The company reported $0.02 earnings per share (EPS) for the quarter. Altus Power had a negative net margin of 5.48% and a negative return on equity of 0.54%. The business had revenue of $24.76 million for the quarter, compared to analyst estimates of $23.70 million.

A number of other brokerages have also issued reports on AMPS. UBS Group started coverage on shares of Altus Power in a research report on Tuesday, October 25th. They set a “buy” rating and a $14.00 target price on the stock. JPMorgan Chase & Co. raised shares of Altus Power from a “neutral” rating to an “overweight” rating and set a $10.00 price target on the stock in a report on Monday. Finally, Morgan Stanley boosted their price target on shares of Altus Power from $12.50 to $14.00 and gave the company an “equal weight” rating in a report on Thursday, September 22nd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Altus Power has an average rating of “Moderate Buy” and a consensus price target of $12.75.

Altus Power Trading Down 6.7 %

Shares of AMPS stock opened at $7.12 on Thursday. Altus Power has a 1 year low of $4.26 and a 1 year high of $14.72. The firm’s fifty day simple moving average is $10.31 and its 200 day simple moving average is $8.65. The firm has a market capitalization of $1.11 billion, a P/E ratio of -355.82 and a beta of 0.67. The company has a current ratio of 9.66, a quick ratio of 11.48 and a debt-to-equity ratio of 1.46.

Institutional Investors Weigh In On Altus Power

Several institutional investors and hedge funds have recently made changes to their positions in the company. Levin Capital Strategies L.P. lifted its position in Altus Power by 5.2% during the 1st quarter. Levin Capital Strategies L.P. now owns 81,600 shares of the company’s stock worth $606,000 after buying an additional 4,000 shares in the last quarter. Victory Capital Management Inc. acquired a new position in Altus Power during the 1st quarter worth about $62,000. Qube Research & Technologies Ltd acquired a new position in Altus Power during the 1st quarter worth about $218,000. Fox Run Management L.L.C. acquired a new position in Altus Power during the 1st quarter worth about $128,000. Finally, JPMorgan Chase & Co. acquired a new position in Altus Power during the 1st quarter worth about $39,000. Institutional investors and hedge funds own 43.73% of the company’s stock.

Insider Buying and Selling at Altus Power

In other news, major shareholder Altus Holdings Lp Gso sold 7,000,000 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $11.01, for a total value of $77,070,000.00. Following the sale, the insider now owns 21,825,125 shares in the company, valued at approximately $240,294,626.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 41.04% of the company’s stock.

About Altus Power

(Get Rating)

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

See Also

Earnings History and Estimates for Altus Power (NYSE:AMPS)

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