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

Altus Power, Inc. (NYSE:AMPS) has been assigned a consensus rating of “Buy” from the nine brokerages that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, five have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $6.00.

AMPS has been the subject of several recent research reports. UBS Group dropped their price target on Altus Power from $5.50 to $5.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Seaport Res Ptn upgraded Altus Power to a “strong-buy” rating in a report on Monday, June 3rd. Roth Mkm decreased their price target on Altus Power from $5.00 to $4.50 and set a “buy” rating on the stock in a report on Friday, August 9th. Maxim Group lowered their price target on Altus Power from $5.50 to $4.50 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, Morgan Stanley cut shares of Altus Power from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $8.00 to $4.00 in a research report on Wednesday, August 21st.

Altus Power Trading Up 4.3 %

AMPS stock opened at $3.38 on Tuesday. The firm has a fifty day moving average price of $3.39 and a 200 day moving average price of $3.96. Altus Power has a fifty-two week low of $2.80 and a fifty-two week high of $7.28. The firm has a market cap of $543.47 million, a PE ratio of -67.59 and a beta of 0.96. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.91 and a current ratio of 0.91.

Altus Power (NYSE:AMPS) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.13. Altus Power had a net margin of 13.55% and a return on equity of 2.52%. The business had revenue of $52.46 million during the quarter, compared to analysts’ expectations of $57.61 million. Sell-side analysts anticipate that Altus Power will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AMPS. Swedbank AB purchased a new stake in Altus Power in the 1st quarter valued at about $12,589,000. Dimensional Fund Advisors LP boosted its holdings in shares of Altus Power by 37.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,974,269 shares of the company’s stock valued at $11,662,000 after purchasing an additional 807,071 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Altus Power by 112.1% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 1,411,042 shares of the company’s stock valued at $5,531,000 after purchasing an additional 745,810 shares during the period. Long Focus Capital Management LLC grew its stake in Altus Power by 427.6% in the second quarter. Long Focus Capital Management LLC now owns 549,081 shares of the company’s stock worth $2,152,000 after purchasing an additional 445,000 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in Altus Power during the 2nd quarter worth $1,085,000. Hedge funds and other institutional investors own 46.55% 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. Altus Power, Inc was founded in 2013 and is headquartered in Stamford, Connecticut.