Altus Power (NYSE:AMPS) Raised to Neutral at JPMorgan Chase & Co.

Altus Power (NYSE:AMPS) was upgraded by analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a report issued on Thursday, MarketBeat Ratings reports.

Other equities research analysts also recently issued research reports about the company. Citigroup lowered their price target on Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Roth Mkm reissued a “buy” rating and issued a $4.50 price target on shares of Altus Power in a report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $5.21.

Altus Power Stock Up 27.8 %

AMPS stock traded up $1.07 during trading on Thursday, reaching $4.90. 27,836,281 shares of the company traded hands, compared to its average volume of 2,105,188. Altus Power has a 12 month low of $2.71 and a 12 month high of $7.28. The business has a 50 day simple moving average of $3.96 and a 200 day simple moving average of $3.62. The company has a market capitalization of $787.12 million, a price-to-earnings ratio of 22.25 and a beta of 1.05. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.60 and a current ratio of 0.60.

Institutional Trading of Altus Power

Institutional investors and hedge funds have recently made changes to their positions in the business. XTX Topco Ltd acquired a new stake in shares of Altus Power in the third quarter worth approximately $425,000. abrdn plc lifted its stake in shares of Altus Power by 8.7% in the 3rd quarter. abrdn plc now owns 1,444,400 shares of the company’s stock valued at $4,593,000 after purchasing an additional 115,300 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Altus Power in the 3rd quarter valued at $286,000. Barclays PLC lifted its stake in shares of Altus Power by 312.8% in the 3rd quarter. Barclays PLC now owns 115,987 shares of the company’s stock valued at $369,000 after purchasing an additional 87,886 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Altus Power by 48.1% in the 4th quarter. Bank of New York Mellon Corp now owns 267,220 shares of the company’s stock valued at $1,088,000 after buying an additional 86,797 shares during the period. 46.55% of the stock is currently owned by hedge funds and other institutional investors.

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.