Altus Power (NYSE:AMPS) Stock Price Up 3.2%

Altus Power, Inc. (NYSE:AMPS)’s share price rose 3.2% during trading on Tuesday . The stock traded as high as $6.10 and last traded at $6.10. Approximately 99,252 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 1,220,171 shares. The stock had previously closed at $5.91.

Analysts Set New Price Targets

AMPS has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on Altus Power from $9.00 to $10.00 in a research report on Wednesday, July 19th. B. Riley decreased their target price on Altus Power from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, June 30th. Finally, Morgan Stanley boosted their target price on Altus Power from $10.00 to $12.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 6th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $10.67.

Altus Power Stock Up 3.9 %

The business has a 50-day moving average of $6.29 and a 200 day moving average of $5.61. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $982.40 million, a PE ratio of -44.43 and a beta of 0.75.

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

Insiders Place Their Bets

In other Altus Power news, insider Anthony Savino sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $6.12, for a total transaction of $153,000.00. Following the sale, the insider now directly owns 3,942,261 shares of the company’s stock, valued at $24,126,637.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 31.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Morgan Stanley grew its stake in shares of Altus Power by 1.0% during the fourth quarter. Morgan Stanley now owns 147,479 shares of the company’s stock valued at $962,000 after buying an additional 1,525 shares during the last quarter. Credit Suisse AG grew its stake in shares of Altus Power by 2.5% during the third quarter. Credit Suisse AG now owns 62,578 shares of the company’s stock valued at $689,000 after buying an additional 1,545 shares during the last quarter. Ensign Peak Advisors Inc bought a new position in shares of Altus Power during the third quarter valued at approximately $26,000. Kepos Capital LP grew its stake in Altus Power by 43.5% in the fourth quarter. Kepos Capital LP now owns 7,944 shares of the company’s stock worth $52,000 after purchasing an additional 2,407 shares in the last quarter. Finally, Triad Investment Management grew its stake in Altus Power by 6.8% in the second quarter. Triad Investment Management now owns 39,144 shares of the company’s stock worth $211,000 after purchasing an additional 2,500 shares in the last quarter. Institutional investors own 45.92% 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. The company was founded in 2013 and is headquartered in Stamford, Connecticut.