Altus Power, Inc. (NYSE:AMPS) Receives Consensus Rating of “Hold” from Brokerages

Shares of Altus Power, Inc. (NYSE:AMPS) have received an average rating of “Hold” from the ten analysts that are presently covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $5.13.

AMPS has been the topic of several analyst reports. Roth Capital cut Altus Power from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 20th. Roth Mkm reaffirmed a “neutral” rating and set a $5.00 price target on shares of Altus Power in a report on Friday. UBS Group cut shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 price objective for the company. in a report on Monday, February 10th. B. Riley downgraded shares of Altus Power from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $6.00 to $5.00 in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. raised shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a report on Thursday, February 6th.

Altus Power Stock Performance

Shares of AMPS stock opened at $4.95 on Tuesday. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.60 and a current ratio of 0.60. Altus Power has a fifty-two week low of $2.71 and a fifty-two week high of $5.50. The company has a market capitalization of $795.14 million, a P/E ratio of 22.48 and a beta of 0.98. The stock has a 50 day moving average price of $4.54 and a two-hundred day moving average price of $3.97.

Altus Power (NYSE:AMPS) last announced its earnings results on Monday, March 17th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.28). The firm had revenue of $44.47 million during the quarter, compared to the consensus estimate of $46.64 million. Altus Power had a return on equity of 4.79% and a net margin of 19.18%. Analysts expect that Altus Power will post 0.14 earnings per share for the current year.

Insider Transactions at Altus Power

In related news, CFO Dustin Weber sold 9,162 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total value of $44,985.42. Following the sale, the chief financial officer now owns 2,002,611 shares in the company, valued at approximately $9,832,820.01. The trade was a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Anthony Savino sold 8,823 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total transaction of $43,320.93. Following the transaction, the insider now owns 4,088,231 shares of the company’s stock, valued at $20,073,214.21. This trade represents a 0.22 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,146 shares of company stock valued at $437,707. 24.30% of the stock is currently owned by insiders.

Institutional Trading of Altus Power

Hedge funds and other institutional investors have recently bought and sold shares of the business. Encompass Capital Advisors LLC grew its holdings in shares of Altus Power by 20.0% in the fourth quarter. Encompass Capital Advisors LLC now owns 8,027,318 shares of the company’s stock worth $32,671,000 after purchasing an additional 1,336,044 shares during the last quarter. Quinn Opportunity Partners LLC purchased a new stake in Altus Power in the 4th quarter valued at about $1,887,000. Millennium Management LLC grew its stake in Altus Power by 148.3% in the 4th quarter. Millennium Management LLC now owns 652,278 shares of the company’s stock worth $2,655,000 after acquiring an additional 389,605 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Altus Power by 7.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,648,599 shares of the company’s stock worth $14,850,000 after acquiring an additional 263,393 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of Altus Power during the third quarter valued at approximately $425,000. Hedge funds and other institutional investors own 46.55% of the company’s stock.

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.