Altus Power (NYSE:AMPS) Releases Earnings Results, Misses Expectations By $0.29 EPS

Altus Power (NYSE:AMPS) released its quarterly earnings results on Monday. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.29), Zacks reports. Altus Power had a net margin of 19.18% and a return on equity of 4.79%.

Altus Power Trading Up 0.1 %

NYSE:AMPS traded up $0.01 during mid-day trading on Monday, hitting $4.96. The company had a trading volume of 1,578,189 shares, compared to its average volume of 1,528,522. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.60 and a current ratio of 0.60. Altus Power has a fifty-two week low of $2.71 and a fifty-two week high of $5.50. The firm has a market cap of $796.74 million, a P/E ratio of 22.52 and a beta of 0.98. The business’s fifty day moving average is $4.45 and its two-hundred day moving average is $3.89.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AMPS shares. UBS Group downgraded shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 price objective on the stock. in a report on Monday, February 10th. B. Riley lowered Altus Power from a “buy” rating to a “neutral” rating and lowered their price target for the company from $6.00 to $5.00 in a research note on Friday, February 7th. JPMorgan Chase & Co. raised Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a report on Thursday, February 6th. Finally, Seaport Res Ptn lowered Altus Power from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Altus Power has an average rating of “Hold” and a consensus target price of $5.06.

Insider Activity

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

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.