Altus Power (NYSE:AMPS) Issues Quarterly Earnings Results, Misses Estimates By $0.28 EPS

Altus Power (NYSE:AMPS) announced its earnings results on Monday. The company reported ($0.32) EPS for the quarter, missing the consensus estimate 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 business had revenue of $44.47 million for the quarter, compared to analyst estimates of $46.64 million.

Altus Power Stock Performance

NYSE AMPS opened at $4.95 on Wednesday. The firm has a 50-day moving average of $4.47 and a 200-day moving average of $3.92. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a market cap of $795.14 million, a PE ratio of 22.48 and a beta of 0.98. Altus Power has a 52-week low of $2.71 and a 52-week high of $5.50.

Wall Street Analyst Weigh In

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

Insider Transactions at Altus Power

In related news, CFO Dustin Weber sold 9,162 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $4.91, for a total transaction of $44,985.42. Following the transaction, the chief financial officer now directly owns 2,002,611 shares of the company’s stock, valued at approximately $9,832,820.01. This trade represents a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregg J. Felton sold 71,161 shares of the firm’s 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 directly owns 4,023,696 shares in the company, valued at approximately $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 90 days, insiders sold 89,146 shares of company stock worth $437,707. 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.