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

Altus Power (NYSE:AMPS) announced its quarterly earnings data on Monday. The company reported ($0.32) earnings per share (EPS) 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 Trading Up 0.1 %

Shares of NYSE:AMPS traded up $0.01 during mid-day trading on Monday, reaching $4.96. The stock had a trading volume of 1,578,189 shares, compared to its average volume of 1,534,831. The firm has a market cap of $796.74 million, a PE ratio of 22.52 and a beta of 0.98. The firm has a 50 day simple moving average of $4.45 and a two-hundred day simple moving average of $3.89. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.10. Altus Power has a twelve month low of $2.71 and a twelve month high of $5.50.

Analyst Ratings Changes

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

Insider Activity at Altus Power

In other news, CEO Gregg J. Felton sold 71,161 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 4,023,696 shares of the company’s stock, valued at approximately $19,756,347.36. This represents a 1.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Anthony Savino sold 8,823 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total value 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 approximately $20,073,214.21. The trade was a 0.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,146 shares of company stock worth $437,707 in the last ninety days. Company 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.