Altus Power (NYSE:AMPS) Issues Earnings Results

Altus Power (NYSE:AMPS - Get Free Report) issued its quarterly earnings results on Monday. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.28), Zacks reports. Altus Power had a return on equity of 4.79% and a net margin of 19.18%. The firm had revenue of $44.47 million during the quarter, compared to analyst estimates of $46.64 million.

Altus Power Stock Up 0.1 %

Shares of NYSE AMPS traded up $0.01 during trading on Friday, hitting $4.95. The stock had a trading volume of 283,025 shares, compared to its average volume of 1,533,915. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.60 and a quick ratio of 0.60. The company has a market capitalization of $795.14 million, a PE ratio of 22.48 and a beta of 0.98. The firm has a fifty day moving average of $4.51 and a two-hundred day moving average of $3.93. Altus Power has a 12 month low of $2.71 and a 12 month high of $5.50.

Analyst Ratings Changes

A number of equities research analysts have commented on AMPS shares. B. Riley cut shares of Altus Power from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $6.00 to $5.00 in a report on Friday, February 7th. UBS Group downgraded Altus Power from a "buy" rating to a "neutral" rating and set a $5.00 target price for the company. in a research note on Monday, February 10th. JPMorgan Chase & Co. raised Altus Power from an "underweight" rating to a "neutral" rating and set a $5.00 price target on the stock in a research note on Thursday, February 6th. Roth Mkm reissued a "neutral" rating and issued a $5.00 price objective on shares of Altus Power in a research note on Friday. Finally, Seaport Res Ptn lowered Altus Power from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $5.13.

Remove Ads

Insider Buying and Selling

In other news, insider Anthony Savino sold 8,823 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total value of $43,320.93. Following the transaction, the insider now owns 4,088,231 shares of the company's stock, valued at approximately $20,073,214.21. This represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Gregg J. Felton sold 71,161 shares of the company's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $4.91, for a total value of $349,400.51. Following the completion of the transaction, the chief executive officer now owns 4,023,696 shares in the company, valued at $19,756,347.36. This represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,146 shares of company stock valued at $437,707. 24.30% of the stock is owned by insiders.

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.