Altus Power (NYSE:AMPS) Shares Up 4.6% – What’s Next?

Altus Power, Inc. (NYSE:AMPS) shot up 4.6% during mid-day trading on Thursday . The company traded as high as $4.16 and last traded at $4.13. 394,371 shares were traded during mid-day trading, a decline of 64% from the average session volume of 1,082,404 shares. The stock had previously closed at $3.95.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AMPS. UBS Group decreased their price target on shares of Altus Power from $5.50 to $5.00 and set a “buy” rating for the company in a report on Friday, August 9th. Maxim Group decreased their price target on shares of Altus Power from $5.50 to $4.50 and set a “buy” rating for the company in a report on Monday, August 12th. Roth Mkm reissued a “buy” rating and set a $4.50 target price on shares of Altus Power in a report on Wednesday, October 16th. Citigroup reduced their target price on shares of Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Finally, Morgan Stanley cut shares of Altus Power from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $8.00 to $4.00 in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $5.94.

Altus Power Trading Up 4.1 %

The company has a market cap of $660.85 million, a price-to-earnings ratio of 17.95 and a beta of 0.94. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 2.18. The company’s 50-day moving average is $3.31 and its 200 day moving average is $3.70.

Institutional Trading of Altus Power

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new stake in shares of Altus Power in the second quarter valued at about $39,000. Iridian Asset Management LLC CT acquired a new position in Altus Power during the third quarter worth about $40,000. Vaughan David Investments LLC IL acquired a new position in Altus Power during the second quarter worth about $55,000. Susquehanna Fundamental Investments LLC acquired a new position in Altus Power during the second quarter worth about $68,000. Finally, Intech Investment Management LLC acquired a new position in Altus Power during the third quarter worth about $86,000. Institutional investors and hedge funds own 46.55% of the company’s stock.

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.