B. Riley Has Positive Outlook of Altus Power FY2024 Earnings

Altus Power, Inc. (NYSE:AMPS) – Equities research analysts at B. Riley lifted their FY2024 earnings per share estimates for shares of Altus Power in a report released on Wednesday, November 13th. B. Riley analyst R. Pfingst now anticipates that the company will earn $0.14 per share for the year, up from their prior forecast 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.

A number of other brokerages have also commented on AMPS. Roth Mkm restated a “buy” rating and set a $4.50 price objective on shares of Altus Power in a research note on Wednesday, October 16th. Citigroup dropped their price objective on Altus Power from $7.00 to $5.50 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Maxim Group lowered their price objective on shares of Altus Power from $5.50 to $4.50 and set a “buy” rating on the stock in a research note on Monday, August 12th. Morgan Stanley cut shares of Altus Power from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $8.00 to $4.00 in a report on Wednesday, August 21st. Finally, UBS Group dropped their price target on Altus Power from $5.50 to $5.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Two 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. According to MarketBeat.com, Altus Power currently has an average rating of “Buy” and a consensus price target of $5.81.

Altus Power Stock Performance

AMPS opened at $3.85 on Monday. Altus Power has a twelve month low of $2.71 and a twelve month high of $7.28. The company has a current ratio of 0.60, a quick ratio of 0.91 and a debt-to-equity ratio of 2.10. The stock has a market cap of $619.04 million, a PE ratio of 17.50 and a beta of 0.94. The business’s 50 day moving average is $3.35 and its 200-day moving average is $3.70.

Hedge Funds Weigh In On Altus Power

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMPS. Summit Securities Group LLC bought a new position in Altus Power during the second quarter worth $39,000. Iridian Asset Management LLC CT bought a new stake in shares of Altus Power in the third quarter valued at about $40,000. HighTower Advisors LLC acquired a new stake in Altus Power during the third quarter worth about $41,000. Vaughan David Investments LLC IL bought a new position in Altus Power during the second quarter valued at about $55,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Altus Power in the 2nd quarter worth approximately $68,000. Institutional investors and hedge funds own 46.55% 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.