A new trading data show Altus Power Inc. (AMPS) is showing positive returns.

Altus Power Inc. (NYSE: AMPS) stock jumped 3.80% on Friday to $8.20 against a previous-day closing price of $7.90. With 0.68 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.01 million shares. During the session, the Utilities – Renewable company that operates in wider Utilities sector, reached to the highest price of $8.24 whereas the lowest price it dropped to was $7.87. The 52-week range on AMPS shows that it touched its highest point at $14.72 and its lowest point at $4.26 during that stretch. It currently has a 1-year price target of $12.29.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of AMPS was down-trending over the past week, with a drop of -1.56%, but this was up by 25.57% over a month. Three-month performance dropped to -22.27% while six-month performance rose 24.43%. The stock lost -0.73% in the past year, while it has gained 25.77% so far this year. A look at the trailing 12-month EPS for AMPS yields 0.07 with Next year EPS estimates of 0.09.

Float and Shares Shorts:

At present, 154.46 million AMPS shares are outstanding with a float of 67.86 million shares on hand for trading. On Oct 13, 2022, short shares totaled 2.98 million, which was 1.76% higher than short shares on Sep 14, 2022. In addition to Mr. Lars R. Norell as the firm’s Co-Founder, Co-CEO & Director, Mr. Gregg J. Felton II serves as its Co-Founder, Co-CEO & Director.

Institutional Ownership:

Through their ownership of 36.12% of AMPS’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 31.15% of AMPS, in contrast to 29.69% held by mutual funds. Shares owned by individuals account for 10.55%. As the largest shareholder in AMPS with 13.08% of the stake, Blackstone Alternative Credit Adv holds 20,775,125 shares worth 20,775,125. A second-largest stockholder of AMPS, ValueAct Capital Management LP, holds 4,005,108 shares, controlling over 2.52% of the firm’s shares. Invesco Capital Management LLC is the third largest shareholder in AMPS, holding 3,784,888 shares or 2.38% stake. With a 1.35% stake in AMPS, the Invesco Solar ETF is the largest stakeholder. A total of 2,144,339 shares are owned by the mutual fund manager. The Invesco WilderHill Clean Energy E, which owns about 1.05% of AMPS stock, is the second-largest Mutual Fund holder. It holds 1,663,834 shares valued at 10.85 million. SPDR S&P Kensho Clean Power ETF holds 0.82% of the stake in AMPS, owning 1,309,077 shares worth 8.54 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AMPS since 7 analysts follow the stock currently. There are 7 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With AMPS analysts setting a high price target of $15.00 and a low target of $10.00, the average target price over the next 12 months is $12.29. Based on these targets, AMPS could surge 82.93% to reach the target high and rise by 21.95% to reach the target low. Reaching the average price target will result in a growth of 49.88% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. AMPS will report FY 2022 earnings on 03/22/2024. Analysts have provided yearly estimates in a range of $0.05 being high and -$0.12 being low. For AMPS, this leads to a yearly average estimate of -$0.05. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Altus Power Inc. surprised analysts by -$0.66 when it reported -$0.63 EPS against a consensus estimate of $0.03. The surprise factor in the prior quarter was $0.16. Based on analyst estimates, the high estimate for the next quarter is $0.03 and the low estimate is -$0.02. The average estimate for the next quarter is thus $0.01.

Summary of Insider Activity:

Insiders traded AMPS stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 14 while that of sell transactions has risen to 3 over the past year. The total number of shares bought during that period was 16,285,680 while 14,735,359 shares were sold.

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