Altus Power (NYSE:AMPS) Announces Earnings Results

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

Altus Power Stock Performance

Shares of AMPS stock traded up $0.01 during midday trading on Monday, hitting $4.96. 1,578,189 shares of the company were exchanged, compared to its average volume of 1,528,522. 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. Altus Power has a 52 week low of $2.71 and a 52 week high of $5.50. The firm’s 50 day moving average price is $4.45 and its two-hundred day moving average price is $3.89.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AMPS. JPMorgan Chase & Co. upgraded shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a report on Thursday, February 6th. B. Riley downgraded shares of Altus Power from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $6.00 to $5.00 in a research report on Friday, February 7th. UBS Group cut shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 target price on the stock. in a report on Monday, February 10th. Finally, Seaport Res Ptn cut 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. Based on data from MarketBeat.com, Altus Power currently has a consensus rating of “Hold” and an average target price of $5.06.

Insider Buying and Selling at Altus Power

In other Altus Power news, CEO Gregg J. Felton sold 71,161 shares of Altus Power stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $4.91, for a total value of $349,400.51. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anthony Savino sold 8,823 shares of the business’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 $43,320.93. Following the completion of the sale, the insider now directly owns 4,088,231 shares of the company’s stock, valued at $20,073,214.21. This represents a 0.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,146 shares of company stock valued at $437,707 in the last three months. 24.30% of the stock is currently owned by company insiders.

About Altus Power

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.