B. Riley Issues Optimistic Forecast for Altus Power Earnings

Altus Power, Inc. (NYSE:AMPS) – Equities research analysts at B. Riley boosted their FY2024 EPS estimates for Altus Power in a research report issued to clients and investors on Wednesday, November 13th. B. Riley analyst R. Pfingst now forecasts that the company will post earnings of $0.14 per share for the year, up from their prior estimate of $0.08. The consensus estimate for Altus Power’s current full-year earnings is $0.14 per share. B. Riley also issued estimates for Altus Power’s FY2025 earnings at ($0.13) EPS and FY2026 earnings at ($0.15) EPS.

AMPS has been the topic of several other reports. Morgan Stanley cut shares of Altus Power from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $8.00 to $4.00 in a report on Wednesday, August 21st. Maxim Group lowered their price objective on Altus Power from $5.50 to $4.50 and set a “buy” rating on the stock in a research note on Monday, August 12th. Citigroup cut their target price on Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. UBS Group reduced their target price on Altus Power from $5.50 to $5.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $4.50 price target on shares of Altus Power in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Altus Power currently has an average rating of “Buy” and a consensus target price of $5.81.

Altus Power Price Performance

Shares of Altus Power stock opened at $3.88 on Monday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10. The stock has a market capitalization of $623.05 million, a price-to-earnings ratio of 17.61 and a beta of 0.94. Altus Power has a twelve month low of $2.71 and a twelve month high of $7.28. The company has a 50-day simple moving average of $3.38 and a two-hundred day simple moving average of $3.69.

Institutional Trading of Altus Power

Several institutional investors and hedge funds have recently modified their holdings of AMPS. Price T Rowe Associates Inc. MD raised its stake in Altus Power by 7.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 44,257 shares of the company’s stock worth $212,000 after acquiring an additional 3,116 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Altus Power by 9.0% during the 3rd quarter. Janus Henderson Group PLC now owns 44,792 shares of the company’s stock valued at $142,000 after purchasing an additional 3,709 shares during the last quarter. HTG Investment Advisors Inc. increased its position in Altus Power by 8.6% during the 3rd quarter. HTG Investment Advisors Inc. now owns 65,148 shares of the company’s stock worth $207,000 after purchasing an additional 5,148 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Altus Power by 24.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,771 shares of the company’s stock valued at $125,000 after purchasing an additional 6,209 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Altus Power by 14.3% in the second quarter. American Century Companies Inc. now owns 72,322 shares of the company’s stock valued at $284,000 after buying an additional 9,062 shares in the last quarter. 46.55% of the stock is currently owned by institutional investors.

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.