Altus Power (NYSE:AMPS) Downgraded to “Hold” Rating by Seaport Res Ptn

Altus Power (NYSE:AMPS) was downgraded by stock analysts at Seaport Res Ptn from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. B. Riley lowered shares of Altus Power from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $6.00 to $5.00 in a research report on Friday. Citigroup dropped their price objective on shares of Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Roth Mkm reaffirmed a “buy” rating and set a $4.50 target price on shares of Altus Power in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. upgraded Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a research report on Thursday. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Altus Power has a consensus rating of “Moderate Buy” and a consensus price target of $5.06.

Altus Power Price Performance

NYSE:AMPS opened at $4.87 on Thursday. Altus Power has a 52-week low of $2.71 and a 52-week high of $7.28. The company has a market cap of $782.29 million, a P/E ratio of 22.11 and a beta of 1.05. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.60 and a current ratio of 0.60. The stock’s 50-day simple moving average is $3.98 and its 200 day simple moving average is $3.64.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. US Bancorp DE grew its position in Altus Power by 11,326.2% in the 4th quarter. US Bancorp DE now owns 9,598 shares of the company’s stock worth $39,000 after purchasing an additional 9,514 shares in the last quarter. Citizens Financial Group Inc. RI purchased a new position in Altus Power in the 4th quarter valued at approximately $41,000. Iridian Asset Management LLC CT purchased a new stake in shares of Altus Power during the third quarter worth $40,000. HighTower Advisors LLC purchased a new stake in Altus Power during the 3rd quarter worth about $41,000. Finally, Intech Investment Management LLC purchased a new position in Altus Power during the 3rd quarter valued at about $86,000. Institutional investors own 46.55% of the company’s stock.

About Altus Power

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.