Altus Power (NYSE:AMPS) Trading Down 6% – Should You Sell?

Altus Power, Inc. (NYSE:AMPS) dropped 6% during trading on Tuesday . The stock traded as low as $3.57 and last traded at $3.58. Approximately 569,863 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 885,724 shares. The stock had previously closed at $3.81.

Analyst Ratings Changes

Several research firms recently commented on AMPS. Roth Mkm restated a “buy” rating and issued a $4.50 target price on shares of Altus Power in a research report on Wednesday, October 16th. Citigroup cut their price objective on shares of Altus Power from $7.00 to $5.50 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. lowered shares of Altus Power from a “neutral” rating to an “underweight” rating in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.21.

Altus Power Stock Down 5.1 %

The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10. The firm has a market capitalization of $581.29 million, a PE ratio of 16.39 and a beta of 1.05. The business’s 50-day moving average price is $4.00 and its 200-day moving average price is $3.66.

Institutional Investors Weigh In On Altus Power

Several large investors have recently made changes to their positions in AMPS. Janus Henderson Group PLC raised its position in shares of Altus Power by 9.0% in the third quarter. Janus Henderson Group PLC now owns 44,792 shares of the company’s stock valued at $142,000 after purchasing an additional 3,709 shares during the period. HTG Investment Advisors Inc. boosted its holdings in Altus Power by 8.6% during the third quarter. HTG Investment Advisors Inc. now owns 65,148 shares of the company’s stock valued at $207,000 after acquiring an additional 5,148 shares during the period. SG Americas Securities LLC grew its position in shares of Altus Power by 19.6% in the fourth quarter. SG Americas Securities LLC now owns 36,058 shares of the company’s stock valued at $147,000 after purchasing an additional 5,912 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Altus Power by 24.3% in the second quarter. The Manufacturers Life Insurance Company now owns 31,771 shares of the company’s stock worth $125,000 after purchasing an additional 6,209 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of Altus Power by 14.3% during the 2nd quarter. American Century Companies Inc. now owns 72,322 shares of the company’s stock worth $284,000 after purchasing an additional 9,062 shares during the last quarter. 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.