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

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

Altus Power Stock Down 0.3 %

Shares of NYSE:AMPS opened at $4.95 on Wednesday. Altus Power has a one year low of $2.71 and a one year high of $5.50. The company 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 current ratio of 0.60 and a quick ratio of 0.60. The stock has a market cap of $795.14 million, a price-to-earnings ratio of 22.48 and a beta of 0.98.

Wall Street Analyst Weigh In

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

Insider Transactions at Altus Power

In related news, CFO Dustin Weber sold 9,162 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 transaction 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. The trade was a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction 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 position. The disclosure for this sale can be found here. Insiders sold a total of 89,146 shares of company stock worth $437,707 in the last quarter. 24.30% of the stock is owned by company 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.