Altus Power (NYSE:AMPS) Trading 5.6% Higher – Should You Buy?

Shares of Altus Power, Inc. (NYSE:AMPS) traded up 5.6% on Friday . The company traded as high as $3.59 and last traded at $3.59. 170,938 shares were traded during trading, a decline of 84% from the average session volume of 1,062,441 shares. The stock had previously closed at $3.40.

Analyst Ratings Changes

A number of analysts have commented on the company. Citigroup reduced their price objective on Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a research report on Tuesday. Maxim Group cut their price target on Altus Power from $5.50 to $4.50 and set a “buy” rating for the company in a report on Monday, August 12th. Roth Mkm reiterated a “buy” rating and set a $4.50 price target on shares of Altus Power in a research report on Wednesday, October 16th. Morgan Stanley cut shares of Altus Power from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $8.00 to $4.00 in a research report on Wednesday, August 21st. Finally, UBS Group reduced their target price on shares of Altus Power from $5.50 to $5.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $5.94.

Altus Power Trading Up 1.8 %

The business’s 50-day moving average is $3.20 and its two-hundred day moving average is $3.75. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $555.93 million, a P/E ratio of -71.80 and a beta of 0.96.

Altus Power (NYSE:AMPS) last released its earnings results on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.13. The business had revenue of $52.46 million for the quarter, compared to the consensus estimate of $57.61 million. Altus Power had a return on equity of 2.52% and a net margin of 13.55%. As a group, analysts predict that Altus Power, Inc. will post 0.08 earnings per share for the current fiscal year.

Institutional Trading of Altus Power

Several hedge funds have recently added to or reduced their stakes in the company. Summit Securities Group LLC bought a new position in Altus Power during the 2nd quarter worth $39,000. Vaughan David Investments LLC IL acquired a new position in shares of Altus Power in the second quarter valued at about $55,000. Susquehanna Fundamental Investments LLC bought a new position in Altus Power during the second quarter worth about $68,000. Jacobs Levy Equity Management Inc. bought a new position in Altus Power during the first quarter worth about $88,000. Finally, SG Americas Securities LLC raised its stake in Altus Power by 135.9% in the 3rd quarter. SG Americas Securities LLC now owns 30,146 shares of the company’s stock worth $96,000 after purchasing an additional 17,368 shares in the last quarter. 46.55% of the stock is owned by institutional investors and hedge funds.

Altus Power Company Profile

Altus Power, Inc, a clean electrification company, develops, owns, constructs, and operates roof, ground, and carport-based photovoltaic solar energy generation and storage systems. It serves commercial, industrial, public sector, and community solar customers. Altus Power, Inc was founded in 2013 and is headquartered in Stamford, Connecticut.