Altus Power (NYSE:AMPS) Posts Earnings Results, Hits Expectations

Altus Power (NYSE:AMPS - Get Free Report) announced its earnings results on Thursday. The company reported ($0.08) EPS for the quarter, meeting analysts' consensus estimates of ($0.08), Zacks reports. Altus Power had a negative net margin of 6.03% and a negative return on equity of 0.30%. The business had revenue of $40.66 million during the quarter, compared to analysts' expectations of $39.13 million. During the same period in the prior year, the company earned ($0.05) earnings per share.

Altus Power Trading Down 2.4 %

AMPS traded down $0.11 on Friday, reaching $4.44. 2,442,804 shares of the company's stock were exchanged, compared to its average volume of 1,115,106. The company has a debt-to-equity ratio of 2.33, a quick ratio of 2.15 and a current ratio of 2.15. Altus Power has a twelve month low of $3.40 and a twelve month high of $7.28. The company's 50 day moving average is $4.75 and its 200-day moving average is $5.47. The company has a market cap of $706.32 million, a price-to-earnings ratio of -62.99 and a beta of 0.98.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Maxim Group initiated coverage on Altus Power in a research note on Wednesday, April 10th. They set a "buy" rating and a $7.00 price target for the company. Morgan Stanley reaffirmed an "overweight" rating and issued a $9.00 price objective on shares of Altus Power in a report on Thursday, April 11th. Roth Mkm reissued a "buy" rating and set a $7.00 target price on shares of Altus Power in a research note on Tuesday, April 30th. Finally, B. Riley reduced their price target on Altus Power from $10.00 to $7.00 and set a "buy" rating for the company in a report on Monday, April 22nd. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, Altus Power presently has a consensus rating of "Buy" and an average price target of $8.25.

Insiders Place Their Bets

In related news, insider Anthony Savino sold 34,725 shares of Altus Power stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $7.02, for a total transaction of $243,769.50. Following the transaction, the insider now owns 3,907,536 shares in the company, valued at approximately $27,430,902.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Anthony Savino sold 34,725 shares of the firm's stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $7.02, for a total transaction of $243,769.50. Following the sale, the insider now directly owns 3,907,536 shares in the company, valued at approximately $27,430,902.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Dustin Weber sold 4,350 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $7.15, for a total transaction of $31,102.50. Following the completion of the sale, the chief financial officer now directly owns 1,884,926 shares of the company's stock, valued at approximately $13,477,220.90. The disclosure for this sale can be found here. Insiders sold a total of 43,673 shares of company stock worth $307,748 over the last ninety days. 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.