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

Shares of Altus Power, Inc. (NYSE:AMPS) have earned a consensus rating of “Buy” from the nine analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $6.94.

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. lowered Altus Power from an “overweight” rating to a “neutral” rating in a report on Wednesday, May 15th. UBS Group dropped their price objective on Altus Power from $5.50 to $5.00 and set a “buy” rating on the stock in a research note on Friday. B. Riley raised shares of Altus Power to a “strong-buy” rating in a research report on Tuesday, June 25th. Seaport Res Ptn raised Altus Power to a “strong-buy” rating in a report on Monday, June 3rd. Finally, Roth Mkm decreased their target price on Altus Power from $5.00 to $4.50 and set a “buy” rating for the company in a research note on Friday.

Insider Buying and Selling

In other news, CEO Gregg J. Felton purchased 34,139 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were purchased at an average price of $3.99 per share, for a total transaction of $136,214.61. Following the completion of the purchase, the chief executive officer now owns 12,044,603 shares in the company, valued at approximately $48,057,965.97. The purchase was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Gregg J. Felton purchased 82,576 shares of Altus Power stock in a transaction dated Friday, May 31st. The shares were purchased at an average price of $3.90 per share, with a total value of $322,046.40. Following the transaction, the chief executive officer now owns 11,977,179 shares in the company, valued at $46,710,998.10. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Gregg J. Felton acquired 34,139 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was purchased at an average cost of $3.99 per share, with a total value of $136,214.61. Following the completion of the purchase, the chief executive officer now directly owns 12,044,603 shares of the company’s stock, valued at approximately $48,057,965.97. The disclosure for this purchase can be found here. 24.30% of the stock is currently owned by insiders.

Institutional Trading of Altus Power

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Altus Power by 12.8% in the 3rd quarter. Vanguard Group Inc. now owns 3,871,155 shares of the company’s stock valued at $20,324,000 after acquiring an additional 438,845 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Altus Power by 32.3% in the 4th quarter. SG Americas Securities LLC now owns 35,309 shares of the company’s stock valued at $241,000 after purchasing an additional 8,617 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Altus Power during the 4th quarter worth $3,671,000. Nisa Investment Advisors LLC boosted its holdings in Altus Power by 41,406.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 26,564 shares of the company’s stock valued at $181,000 after acquiring an additional 26,500 shares during the last quarter. Finally, Handelsbanken Fonder AB purchased a new stake in Altus Power during the fourth quarter worth approximately $5,298,000. 46.55% of the stock is currently owned by hedge funds and other institutional investors.

Altus Power Stock Performance

Shares of NYSE:AMPS opened at $3.16 on Monday. Altus Power has a 1 year low of $2.91 and a 1 year high of $7.28. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.48 and a quick ratio of 1.48. The business’s 50 day moving average price is $4.11 and its 200-day moving average price is $4.74. The firm has a market capitalization of $507.72 million, a PE ratio of -63.20 and a beta of 1.00.

Altus Power (NYSE:AMPS) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.08) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.08). Altus Power had a negative net margin of 4.48% and a negative return on equity of 1.37%. The business had revenue of $40.66 million during the quarter, compared to analyst estimates of $39.13 million. During the same quarter in the previous year, the business posted ($0.05) earnings per share. As a group, equities research analysts expect that Altus Power will post -0.07 earnings per share for the current fiscal 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.