Roth Capital Brokers Lift Earnings Estimates for Altus Power

Altus Power, Inc. (NYSE:AMPS - Free Report) - Stock analysts at Roth Capital increased their FY2024 EPS estimates for Altus Power in a research report issued to clients and investors on Wednesday, November 13th. Roth Capital analyst J. Clare now expects that the company will earn $0.12 per share for the year, up from their previous forecast 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.

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

Altus Power Stock Performance

Shares of AMPS stock traded down $0.25 during trading on Friday, reaching $3.85. 1,033,947 shares of the company's stock were exchanged, compared to its average volume of 1,089,611. The stock has a market capitalization of $618.23 million, a PE ratio of 17.48 and a beta of 0.94. 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 firm's fifty day moving average price is $3.35 and its 200-day moving average price is $3.70. Altus Power has a twelve month low of $2.71 and a twelve month high of $7.28.

Hedge Funds Weigh In On Altus Power

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Summit Securities Group LLC acquired a new stake in Altus Power in the 2nd quarter worth approximately $39,000. Iridian Asset Management LLC CT purchased a new stake in shares of Altus Power during the third quarter worth about $40,000. HighTower Advisors LLC acquired a new stake in shares of Altus Power in the third quarter worth approximately $41,000. Vaughan David Investments LLC IL acquired a new position in Altus Power during the second quarter worth about $55,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Altus Power during the second quarter worth $68,000. 46.55% of the stock is currently owned by institutional investors.

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.