Altus Power (NYSE:AMPS) Shares Down 2.6%

Altus Power, Inc. (NYSE:AMPS – Get Rating) shares were down 2.6% during mid-day trading on Tuesday . The company traded as low as $8.36 and last traded at $8.37. Approximately 803 shares were traded during mid-day trading, a decline of 100% from the average daily volume of 924,497 shares. The stock had previously closed at $8.59.

Separately, Morgan Stanley cut their target price on Altus Power from $10.50 to $10.00 and set an “equal weight” rating for the company in a research note on Monday, June 13th.

The business has a 50 day simple moving average of $6.60 and a 200-day simple moving average of $7.68. The company has a quick ratio of 10.67, a current ratio of 10.67 and a debt-to-equity ratio of 1.35.

Altus Power (NYSE:AMPS – Get Rating) last issued its quarterly earnings data on Monday, May 16th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). The company had revenue of $19.20 million during the quarter, compared to analysts’ expectations of $20.18 million. Sell-side analysts anticipate that Altus Power, Inc. will post 0.05 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of AMPS. Triad Investment Management acquired a new position in Altus Power in the 1st quarter valued at about $31,000. JPMorgan Chase & Co. acquired a new position in Altus Power in the 1st quarter valued at about $39,000. Royal Bank of Canada acquired a new position in Altus Power in the 1st quarter valued at about $46,000. Victory Capital Management Inc. acquired a new position in Altus Power in the 1st quarter valued at about $62,000. Finally, Citigroup Inc. acquired a new position in Altus Power in the 1st quarter valued at about $67,000. 89.11% of the stock is owned by hedge funds and other institutional investors.

Altus Power Company Profile (NYSE:AMPS)

Altus Power, Inc operates as a clean electrification company in the United States. It is involved in the on-site solar generation for commercial, industrial, and public customers; community solar; energy storage; and electric vehicle charging businesses. The company was founded in 2009 and is based in Stamford, Connecticut.

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