Altus Power, Inc. (NYSE:AMPS - Free Report) - Seaport Res Ptn increased their FY2024 earnings per share estimates for Altus Power in a research note issued to investors on Thursday, November 14th. Seaport Res Ptn analyst J. Campbell now anticipates that the company will post earnings per share of $0.12 for the year, up from their prior forecast of $0.02. The consensus estimate for Altus Power's current full-year earnings is $0.14 per share. Seaport Res Ptn also issued estimates for Altus Power's Q4 2024 earnings at ($0.06) EPS, Q1 2025 earnings at ($0.05) EPS, Q4 2025 earnings at ($0.04) EPS, FY2025 earnings at ($0.07) EPS, Q1 2026 earnings at ($0.04) EPS, Q3 2026 earnings at $0.05 EPS and FY2026 earnings at ($0.02) EPS.
Other equities research analysts also recently issued research reports about the company. Citigroup lowered their price target on Altus Power from $7.00 to $5.50 and set a "buy" rating for the company in a report on Tuesday, October 22nd. Morgan Stanley lowered shares of Altus Power from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $8.00 to $4.00 in a report on Wednesday, August 21st. Maxim Group reduced their target price on Altus Power from $5.50 to $4.50 and set a "buy" rating for the company in a research note on Monday, August 12th. UBS Group dropped their price target on Altus Power from $5.50 to $5.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. Finally, Roth Mkm restated a "buy" rating and issued a $4.50 price objective on shares of Altus Power in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $5.81.
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Altus Power Stock Down 0.4 %
Shares of AMPS traded down $0.02 during midday trading on Monday, hitting $3.84. 688,365 shares of the company's stock traded hands, compared to its average volume of 1,087,813. The company has a current ratio of 0.60, a quick ratio of 0.91 and a debt-to-equity ratio of 2.10. The stock has a market capitalization of $616.63 million, a price-to-earnings ratio of 17.43 and a beta of 0.94. Altus Power has a 1 year low of $2.71 and a 1 year high of $7.28. The firm's fifty day moving average is $3.36 and its 200-day moving average is $3.70.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of AMPS. Swedbank AB purchased a new stake in Altus Power during the first quarter worth $12,589,000. Long Focus Capital Management LLC grew its position in shares of Altus Power by 427.6% during the 2nd quarter. Long Focus Capital Management LLC now owns 549,081 shares of the company's stock valued at $2,152,000 after acquiring an additional 445,000 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Altus Power by 37.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,974,269 shares of the company's stock valued at $11,662,000 after purchasing an additional 807,071 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in Altus Power by 78.8% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 437,286 shares of the company's stock worth $1,714,000 after purchasing an additional 192,687 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ raised its holdings in Altus Power by 112.1% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,411,042 shares of the company's stock worth $5,531,000 after purchasing an additional 745,810 shares during the period. 46.55% of the stock is owned by institutional investors and hedge funds.
About Altus Power
(
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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.
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