Altus Power Inc (NYSE:AMPS) shares, rose in value, with the stock price down by -0.17% to the previous day’s close as strong demand from buyers drove the stock to $5.98.
Actively observing the price movement in the last trading, the stock closed the session at $5.99. The value of beta (5-year monthly) was 0.95 whereas the PE ratio was 11.15 over 12-month period. Referring to stock’s 52-week performance, its high was $7.28, and the low was $4.08. On the whole, AMPS has fluctuated by -13.58% over the past month.
With the market capitalization of Altus Power Inc currently standing at about $950.76 million, investors are eagerly awaiting this quarter’s results, scheduled for Mar 14, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.01, which is expected to increase to -$0.01 for fiscal year $0.09 and then to about $0.03 by fiscal year 2024. Data indicates that the EPS growth is expected to be -74.30% in 2024, while the next year’s EPS growth is forecast to be -66.70%.
Analysts have estimated the company’s revenue for the quarter at $43.93 million, with a low estimate of $40.81 million and a high estimate of $46 million. According to the average forecast, sales growth in current quarter could jump up 64.10%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $164.49 million, representing an increase of 62.60% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that AMPS’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of AMPS currently trading nearly -10.91% and -3.90% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 40.49, while the 7-day volatility ratio is showing 5.25% which for the 30-day chart, stands at 5.10%. Furthermore, Altus Power Inc (AMPS)’s beta value is 0.95, and its average true range (ATR) is 0.36.
A comparison of Altus Power Inc (AMPS) with its peers suggests the former has fared considerably weaker in the market. AMPS showed an intraday change of -0.17% in last session, and over the past year, it shrunk by -6.56%%.
Data on historical trading for Altus Power Inc (NYSE:AMPS) indicates that the trading volumes over the past 10 days have averaged 0.84 million and over the past 3 months, they’ve averaged 1.00 million. According to company’s latest data on outstanding shares, there are 158.90 million shares outstanding.
Nearly 50.95% of Altus Power Inc’s shares belong to company insiders and institutional investors own 47.04% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 7.9 million shares as on Feb 29, 2024, resulting in a short ratio of 8.28. According to the data, the short interest in Altus Power Inc (AMPS) stood at 4.97% of shares outstanding as of Feb 29, 2024; the number of short shares registered in Jan 31, 2024 reached 7.27 million. The stock has fallen by -12.45% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the AMPS stock heading into the next quarter.
