Altus Power (NYSE:AMPS) Stock Price Up 11.8% – What’s Next?

Altus Power, Inc. (NYSE:AMPS) traded up 11.8% on Monday . The stock traded as high as $4.40 and last traded at $3.97. 2,036,637 shares traded hands during mid-day trading, an increase of 86% from the average session volume of 1,093,010 shares. The stock had previously closed at $3.55.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AMPS shares. JPMorgan Chase & Co. lowered Altus Power from a “neutral” rating to an “underweight” rating in a research note on Thursday, December 12th. Citigroup lowered their price target on Altus Power from $7.00 to $5.50 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Finally, Roth Mkm reiterated a “buy” rating and set a $4.50 target price on shares of Altus Power in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, one has assigned 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 has a consensus rating of “Moderate Buy” and an average target price of $5.21.

Altus Power Stock Performance

The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.10. The business has a fifty day moving average of $3.77 and a 200-day moving average of $3.67. The company has a market cap of $662.48 million, a PE ratio of 18.73 and a beta of 1.04.

Institutional Trading of Altus Power

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its holdings in Altus Power by 37.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,974,269 shares of the company’s stock worth $11,662,000 after purchasing an additional 807,071 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in 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 worth $5,531,000 after buying an additional 745,810 shares in the last quarter. Long Focus Capital Management LLC lifted its holdings 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 buying an additional 445,000 shares during the period. Jupiter Asset Management Ltd. bought a new stake in Altus Power during the 2nd quarter valued at approximately $1,085,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in shares of Altus Power by 78.8% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 437,286 shares of the company’s stock worth $1,714,000 after acquiring an additional 192,687 shares in the last quarter. 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.