Altus Power (NYSE:AMPS) Rating Reiterated by Roth Mkm

Altus Power (NYSE:AMPS)‘s stock had its “buy” rating reiterated by analysts at Roth Mkm in a note issued to investors on Tuesday, Benzinga reports. They presently have a $7.00 price objective on the stock. Roth Mkm’s price objective would suggest a potential upside of 81.58% from the stock’s current price.

Several other research firms also recently weighed in on AMPS. B. Riley reduced their target price on shares of Altus Power from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Morgan Stanley reiterated an “overweight” rating and issued a $9.00 target price on shares of Altus Power in a research note on Thursday, April 11th. Finally, Maxim Group assumed coverage on shares of Altus Power in a research note on Wednesday, April 10th. They issued a “buy” rating and a $7.00 target price for the company. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $8.25.

Altus Power Stock Performance

Shares of AMPS stock opened at $3.86 on Tuesday. The firm has a market cap of $613.26 million, a price-to-earnings ratio of -55.07 and a beta of 0.88. The company has a debt-to-equity ratio of 2.33, a quick ratio of 2.15 and a current ratio of 2.15. Altus Power has a 52 week low of $3.40 and a 52 week high of $7.28. The firm’s 50-day simple moving average is $5.08 and its two-hundred day simple moving average is $5.52.

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

Insider Activity at Altus Power

In other news, CEO Gregg J. Felton acquired 12,500 shares of Altus Power stock in a transaction that occurred on Thursday, March 28th. The stock was bought at an average price of $4.78 per share, with a total value of $59,750.00. Following the completion of the purchase, the chief executive officer now owns 11,894,603 shares in the company, valued at $56,856,202.34. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Anthony Savino sold 34,725 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $7.02, for a total transaction of $243,769.50. Following the completion of the transaction, the insider now owns 3,907,536 shares of the company’s stock, valued at $27,430,902.72. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Gregg J. Felton bought 12,500 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were bought at an average price of $4.78 per share, with a total value of $59,750.00. Following the completion of the transaction, the chief executive officer now 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. Over the last 90 days, insiders sold 43,673 shares of company stock valued at $307,748. Corporate insiders own 24.30% of the company’s stock.

Institutional Investors Weigh In On Altus Power

Several hedge funds have recently bought and sold shares of AMPS. Handelsbanken Fonder AB bought a new stake in Altus Power during the fourth quarter valued at approximately $5,298,000. abrdn plc lifted its position in Altus Power by 1,217.7% during the third quarter. abrdn plc now owns 619,300 shares of the company’s stock valued at $3,251,000 after purchasing an additional 572,300 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Altus Power during the fourth quarter valued at approximately $3,671,000. Vanguard Group Inc. lifted its position in Altus Power by 12.8% during the third quarter. Vanguard Group Inc. now owns 3,871,155 shares of the company’s stock valued at $20,324,000 after purchasing an additional 438,845 shares during the last quarter. Finally, Ardsley Advisory Partners LP lifted its position in Altus Power by 9.4% during the third quarter. Ardsley Advisory Partners LP now owns 1,125,000 shares of the company’s stock valued at $5,906,000 after purchasing an additional 96,687 shares during the last quarter. 46.55% 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. Altus Power, Inc was founded in 2013 and is headquartered in Stamford, Connecticut.