Altus Power (NYSE:AMPS) Price Target Increased to $12.00 by Analysts at Morgan Stanley

Altus Power (NYSE:AMPS) had its price objective lifted by Morgan Stanley from $10.00 to $12.00 in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage currently has an overweight rating on the stock.

Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. raised their target price on shares of Altus Power from $9.00 to $10.00 in a research report on Wednesday, July 19th. B. Riley dropped their target price on shares of Altus Power from $14.00 to $11.00 and set a buy rating for the company in a research report on Friday, June 30th. Finally, Evercore ISI lowered their price target on shares of Altus Power from $12.00 to $10.00 in a research report on Tuesday, May 16th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Altus Power currently has a consensus rating of Buy and an average target price of $10.67.

Altus Power Trading Up 1.0 %

NYSE:AMPS opened at $6.33 on Wednesday. The company has a 50-day moving average price of $6.24 and a 200-day moving average price of $5.65. Altus Power has a 12 month low of $4.08 and a 12 month high of $14.72. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.82. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -45.21 and a beta of 0.75.

Altus Power (NYSE:AMPS) last posted its earnings results on Monday, August 14th. The company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. Altus Power had a negative net margin of 12.51% and a positive return on equity of 0.10%. The firm had revenue of $46.51 million during the quarter, compared to analysts’ expectations of $43.49 million. Equities analysts predict that Altus Power will post -0.02 EPS for the current year.

Insider Activity at Altus Power

In other Altus Power news, insider Anthony Savino sold 25,000 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $5.40, for a total transaction of $135,000.00. Following the completion of the sale, the insider now directly owns 4,067,261 shares in the company, valued at approximately $21,963,209.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, major shareholder Altus Holdings Lp Gso acquired 45,000 shares of Altus Power stock in a transaction on Wednesday, June 14th. The stock was acquired at an average cost of $5.47 per share, for a total transaction of $246,150.00. Following the purchase, the insider now owns 21,116,125 shares in the company, valued at $115,505,203.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anthony Savino sold 25,000 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $5.40, for a total transaction of $135,000.00. Following the sale, the insider now owns 4,067,261 shares of the company’s stock, valued at $21,963,209.40. The disclosure for this sale can be found here. Insiders sold a total of 325,000 shares of company stock valued at $1,806,000 in the last three months. Company insiders own 31.55% of the company’s stock.

Institutional Trading of Altus Power

A number of institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. bought a new stake in shares of Altus Power in the first quarter worth approximately $39,000. Bank of New York Mellon Corp bought a new stake in shares of Altus Power in the first quarter worth approximately $107,000. Oppenheimer & Co. Inc. grew its stake in shares of Altus Power by 33.3% in the first quarter. Oppenheimer & Co. Inc. now owns 20,000 shares of the company’s stock worth $149,000 after acquiring an additional 5,000 shares during the period. Citigroup Inc. bought a new stake in shares of Altus Power in the first quarter worth approximately $67,000. Finally, Vanguard Group Inc. bought a new stake in shares of Altus Power in the first quarter worth approximately $12,973,000. 45.92% of the stock is currently owned by institutional investors.

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. The company was founded in 2013 and is headquartered in Stamford, Connecticut.