During the last session, Altus Power Inc (NYSE:AMPS)’s traded shares were 0.59 million, with the beta value of the company hitting 0.99. At the end of the trading day, the stock’s price was $4.17, reflecting an intraday gain of 2.71% or $0.11. The 52-week high for the AMPS share is $7.28, that puts it down -74.58 from that peak though still a striking 35.01% gain since the share price plummeted to a 52-week low of $2.71. The company’s market capitalization is $667.20M, and the average intraday trading volume over the past 10 days was 1.43 million shares, and the average trade volume was 1.09 million shares over the past three months.
Altus Power Inc (AMPS) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.36. AMPS has a Sell rating from 0 analyst(s) out of 5 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 4 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -0.04.
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Altus Power Inc (NYSE:AMPS) trade information
Altus Power Inc (AMPS) registered a 2.71% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 2.71% in intraday trading to $4.17, hitting a weekly high. The stock’s 5-day price performance is 8.31%, and it has moved by 22.65% in 30 days. Based on these gigs, the overall price performance for the year is -16.77%. The short interest in Altus Power Inc (NYSE:AMPS) is 7.76 million shares and it means that shorts have 8.1 day(s) to cover.
The consensus price target of analysts on Wall Street is $6.75, which implies an increase of 38.22% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $4.5 and $12 respectively. As a result, AMPS is trading at a discount of -187.77% off the target high and -7.91% off the low.
Altus Power Inc (AMPS) estimates and forecasts
Statistics show that Altus Power Inc has outperformed its competitors in share price, compared to the industry in which it operates. Altus Power Inc (AMPS) shares have gone up 5.84% during the last six months, with a year-to-date growth rate more than the industry average at 780.00% against -9.10. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -12.79% this quarter and then drop -90.53% in the quarter after that. In the rating firms’ projections, revenue will increase 27.88% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 46.55M as predicted by 8 analyst(s). Meanwhile, a consensus of 6 analyst(s) estimates revenue growth to 46.36M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 34.19M and 40.66M respectively. In this case, analysts expect current quarter sales to grow by 36.16% and then jump by 14.02% in the coming quarter.
While earnings are projected to return 680.53% in 2024.
AMPS Dividends
Altus Power Inc is due to release its next quarterly earnings in December. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Altus Power Inc (NYSE:AMPS)’s Major holders
Altus Power Inc insiders own 44.77% of total outstanding shares while institutional holders control 56.46%, with the float percentage being 102.23%. BLACKSTONE INC. is the largest shareholder of the company, while 181.0 institutions own stock in it. As of 2024-06-30, the company held over 21.12 million shares (or 13.2784% of all shares), a total value of $82.78 million in shares.
The next largest institutional holding, with 7.13 million shares, is of BLACKROCK INC.’s that is approximately 4.4827% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $27.94 million.
Also, the Mutual Funds coming in first place with the largest holdings of Altus Power Inc (AMPS) shares are Invesco ETF TR II-Invesco Solar ETF and iShares Russell 2000 ETF . Data provided on Sep 30, 2024 indicates that Invesco ETF TR II-Invesco Solar ETF owns about 2.64 shares. This amounts to just over 1.65 percent of the company’s overall shares, with a $11.01 million market value. The same data shows that the other fund manager holds slightly less at 1.95, or about 1.22% of the stock, which is worth about $8.12 million.
