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The Most Interesting Shares Today: Altus Power Inc (NYSE: AMPS)

In the last trading session, 1.22 million Altus Power Inc (NYSE:AMPS) shares changed hands as the company’s beta touched 0.90. With the company’s per share price at $6.92 changed hands at $0.5 or 7.79% during last session, the market valuation stood at $1.10B. AMPS’s last price was a discount, traded about -12.57% off its 52-week high of $7.79. The share price had its 52-week low at $4.08, which suggests the last value was 41.04% up since then. When we look at Altus Power Inc’s average trading volume, we note the 10-day average is 1.02 million shares, with the 3-month average coming to 1.07.

Altus Power Inc (NYSE:AMPS) trade information

Instantly AMPS was in green as seen at the end of in last trading. With action 30.32%, the performance over the past five days has been green. The jump to weekly highs of 6.96 added 7.79% to the stock’s daily price. The company’s shares are showing year-to-date upside of 1.32%, with the 5-day performance at 30.32% in the green. However, in the 30-day time frame, Altus Power Inc (NYSE:AMPS) is 15.14% up. Looking at the short shares, we see there were 7.27 million shares sold at short interest cover period of 8.08 days.

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Altus Power Inc (AMPS) estimates and forecasts

Data shows that the Altus Power Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 10.90% over the past 6 months, a -74.29% in annual growth rate that is considerably lower than the industry average of -4.50%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Altus Power Inc will fall -102.40%, while the growth in revenue is estimated to hit -266.70% for the next quarter. Year-over-year growth is forecast to reach 62.60% up from the last financial year.

Consensus estimates given by 6 financial analysts project the company’s revenue in the current quarter to hit an average of $43.93 million. 5 analysts are of the opinion that Altus Power Inc’s revenue for the quarter ending Mar 2024 will be $42.61 million. The company’s revenue for the corresponding quarters a year ago was $26.76 million and $29.38 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 64.10%. The estimates for the next quarter sales put growth at 45.00%.

The 2024 estimates are for Altus Power Inc earnings to decrease by -68.19%.

AMPS Dividends

Altus Power Inc is expected to release its next quarterly earnings report on March 14.

Altus Power Inc (NYSE:AMPS)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 48.96% of Altus Power Inc shares while 53.43% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 104.69%. There are 53.43% institutions holding the Altus Power Inc stock share, with Blackstone Inc the top institutional holder. As of Jun 29, 2023, the company held 13.28% of the shares, roughly 21.12 million AMPS shares worth $114.03 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 3.87% or 6.16 million shares worth $33.26 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF. With 2.14 million shares estimated at $11.55 million under it, the former controlled 1.35% of total outstanding shares. On the other hand, Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF held about 1.05% of the shares, roughly 1.66 million shares worth around $10.75 million.

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