Altus Power, Inc. (NYSE:AMPS) Receives Average Rating of “Buy” from Analysts

Shares of Altus Power, Inc. (NYSE:AMPS) have been assigned a consensus rating of “Buy” from the seven ratings firms that are covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $8.25.

A number of equities analysts have issued reports on AMPS shares. B. Riley decreased their price target on Altus Power from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Maxim Group started coverage on Altus Power in a research note on Wednesday, April 10th. They set a “buy” rating and a $7.00 price target for the company. Roth Mkm decreased their price target on Altus Power from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, March 15th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $9.00 price target on shares of Altus Power in a research note on Thursday, April 11th.

Insider Activity

In other news, CFO Dustin Weber sold 4,350 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $7.15, for a total transaction of $31,102.50. Following the completion of the sale, the chief financial officer now owns 1,884,926 shares in the company, valued at approximately $13,477,220.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Dustin Weber sold 4,350 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $7.15, for a total value of $31,102.50. Following the completion of the sale, the chief financial officer now owns 1,884,926 shares in the company, valued at $13,477,220.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregg J. Felton bought 12,500 shares of Altus Power stock in a transaction dated Thursday, March 28th. The stock was acquired at an average price of $4.78 per share, with a total value of $59,750.00. Following the acquisition, the chief executive officer now directly owns 11,894,603 shares of the company’s stock, valued at $56,856,202.34. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 83,673 shares of company stock worth $530,948. Insiders own 24.30% of the company’s stock.

Institutional Trading of Altus Power

A number of hedge funds have recently modified their holdings of AMPS. SG Americas Securities LLC purchased a new stake in shares of Altus Power in the third quarter valued at $140,000. DAVENPORT & Co LLC purchased a new stake in shares of Altus Power during the third quarter worth $580,000. Bank of New York Mellon Corp raised its holdings in shares of Altus Power by 2.5% during the third quarter. Bank of New York Mellon Corp now owns 202,360 shares of the company’s stock worth $1,062,000 after acquiring an additional 4,864 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Altus Power by 7.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,933 shares of the company’s stock worth $267,000 after acquiring an additional 3,571 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Altus Power by 196.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 13,319 shares of the company’s stock worth $70,000 after acquiring an additional 8,826 shares in the last quarter. Hedge funds and other institutional investors own 46.55% of the company’s stock.

Altus Power Stock Performance

Shares of AMPS stock opened at $3.62 on Friday. Altus Power has a 12-month low of $3.40 and a 12-month high of $7.28. The firm has a market capitalization of $575.07 million, a price-to-earnings ratio of -51.64 and a beta of 0.88. The business has a 50 day simple moving average of $5.21 and a 200 day simple moving average of $5.53. The company has a debt-to-equity ratio of 2.33, a current ratio of 2.15 and a quick ratio of 2.15.

Altus Power (NYSE:AMPS) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). Altus Power had a negative return on equity of 0.30% and a negative net margin of 6.03%. The business had revenue of $34.19 million during the quarter, compared to the consensus estimate of $42.85 million. On average, equities research analysts anticipate that Altus Power will post -0.11 EPS for the current year.

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.