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Altus Power, Inc. (AMPS) Stock Sinks As Market Gains: What You Should Know

Zacks Equity Research
·2 min read

Altus Power, Inc. (AMPS) closed at $9.08 in the latest trading session, marking a -0.22% move from the prior day. This change lagged the S&P 500's 2.37% gain on the day. Meanwhile, the Dow gained 2.47%, and the Nasdaq, a tech-heavy index, lost 0.07%.

Prior to today's trading, shares of the company had lost 26.02% over the past month. This has lagged the Oils-Energy sector's gain of 4.35% and the S&P 500's loss of 4.82% in that time.

Wall Street will be looking for positivity from Altus Power, Inc. as it approaches its next earnings report date.

For the full year, our Zacks Consensus Estimates are projecting earnings of $0.58 per share and revenue of $103.79 million, which would represent changes of +1066.67% and +44.56%, respectively, from the prior year.

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Investors should also note any recent changes to analyst estimates for Altus Power, Inc.Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Altus Power, Inc. is currently a Zacks Rank #3 (Hold).

Valuation is also important, so investors should note that Altus Power, Inc. has a Forward P/E ratio of 15.6 right now. For comparison, its industry has an average Forward P/E of 28.12, which means Altus Power, Inc. is trading at a discount to the group.

The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 61, which puts it in the top 25% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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Zacks Investment Research