Shares of Altus Power Inc. (AMPS) will be in focus on Monday as the company gears up to post its fourth-quarter results.
The Connecticut-based company is scheduled to post its Q4 results on Monday during the after-market hours.
Data on Stocktwits shows Altus Power is expected to narrow its loss per share to $0.05 in Q4, from a loss of $0.17 per share during the year-ago period.
Its revenue is expected to rise to $46.23 million from $34.19 million that it reported in the same period a year earlier.
While the Wall Street broadly expects Altus Power’s financial metrics to improve, it will also watch out for updates on the company’s acquisition by TPG through the investment firm’s climate-focused fund.
TPG proposed to acquire Altus Power in an all-cash transaction at $5 per share. Post the closure of the deal, Altus Power’s stock will be unlisted from the New York Stock Exchange, and the company will go private.
The company also announced a new 1.7-megawatt solar power project in North California, capable of reducing up to 1,000 metric tons of carbon dioxide annually. It also commenced a new 1.4-megawatt project in Colorado earlier this month.
Retail sentiment on Stocktwits remained in the ‘bullish’ (56/100) territory at the time of writing.
Data from Koyfin shows the average price target for Altus Power is $5.08, marginally above Friday’s closing price. Two brokerages have ‘Buy’ or ‘Strong Buy’ calls, while five recommend ‘Hold.’
Altus Power’s stock has gained nearly 22% year-to-date.
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