Altus Power (NYSE:AMPS) Announces Earnings Results, Misses Estimates By $0.29 EPS

Altus Power (NYSE:AMPS) posted its quarterly earnings results on Monday. The company reported ($0.32) 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 %

Shares of Altus Power stock traded up $0.01 on Monday, hitting $4.96. The stock had a trading volume of 1,578,189 shares, compared to its average volume of 1,534,831. The stock has a 50 day moving average of $4.45 and a 200 day moving average of $3.89. Altus Power has a twelve month low of $2.71 and a twelve month high of $5.50. The firm has a market capitalization of $796.74 million, a P/E ratio of 22.52 and a beta of 0.98. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.60 and a current ratio of 0.60.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. 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 target price for the company in a research note on Thursday, February 6th. B. Riley downgraded Altus Power from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $6.00 to $5.00 in a research note on Friday, February 7th. Finally, Seaport Res Ptn downgraded Altus Power from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Altus Power has a consensus rating of “Hold” and a consensus price target of $5.06.

Insider Activity at Altus Power

In related news, CEO Gregg J. Felton sold 71,161 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total value of $349,400.51. Following the transaction, the chief executive officer now directly owns 4,023,696 shares in the company, valued at $19,756,347.36. This trade represents a 1.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Dustin Weber sold 9,162 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total value of $44,985.42. Following the completion of the transaction, the chief financial officer now owns 2,002,611 shares in the company, valued at approximately $9,832,820.01. This represents a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,146 shares of company stock worth $437,707 over the last ninety days. Insiders own 24.30% of the company’s stock.

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.