Morgan Stanley Raises Altus Power (NYSE:AMPS) Price Target to $14.00

Altus Power (NYSE:AMPSGet Rating) had its price target lifted by Morgan Stanley from $12.50 to $14.00 in a research report released on Thursday, Stock Target Advisor reports. The firm currently has an equal weight rating on the stock.

A number of other analysts have also recently commented on the stock. B. Riley reaffirmed a buy rating on shares of Altus Power in a report on Thursday, July 7th. Citigroup cut shares of Altus Power from a buy rating to a neutral rating in a research note on Friday, July 8th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Altus Power from $9.00 to $11.00 and gave the stock a neutral rating in a research note on Monday, August 8th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Altus Power currently has a consensus rating of Hold and a consensus target price of $12.67.

Altus Power Stock Up 0.7 %

Shares of AMPS stock opened at $12.30 on Thursday. Altus Power has a 12 month low of $4.26 and a 12 month high of $12.66. The company has a quick ratio of 11.48, a current ratio of 11.48 and a debt-to-equity ratio of 1.25. The company has a 50 day simple moving average of $9.75 and a two-hundred day simple moving average of $7.92.

Altus Power (NYSE:AMPSGet Rating) last announced its earnings results on Monday, August 15th. The company reported $0.02 EPS for the quarter. The business had revenue of $24.76 million for the quarter, compared to analysts’ expectations of $23.70 million. On average, analysts expect that Altus Power will post 0.02 EPS for the current fiscal year.

Institutional Trading of Altus Power

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. purchased a new position in Altus Power during the first quarter valued at $12,973,000. State Street Corp grew its stake in Altus Power by 1,231.0% during the second quarter. State Street Corp now owns 1,699,411 shares of the company’s stock valued at $10,723,000 after acquiring an additional 1,571,727 shares in the last quarter. Kensico Capital Management Corp purchased a new position in Altus Power during the fourth quarter valued at $10,711,000. Scopus Asset Management L.P. purchased a new position in Altus Power during the fourth quarter valued at $6,256,000. Finally, Luxor Capital Group LP purchased a new position in Altus Power during the fourth quarter valued at $5,225,000. 43.73% of the stock is owned by hedge funds and other institutional investors.

Altus Power Company Profile

(Get Rating)

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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