Altus Power, Inc. (NYSE:AMPS) Given Consensus Recommendation of “Buy” by Analysts

Altus Power, Inc. (NYSE:AMPSGet Free Report) has been assigned an average rating of “Buy” from the nine analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $7.50.

A number of analysts recently issued reports on AMPS shares. Seaport Res Ptn raised Altus Power to a “strong-buy” rating in a research report on Monday, June 3rd. Roth Mkm reduced their price target on shares of Altus Power from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, May 16th. Evercore ISI decreased their price objective on shares of Altus Power from $9.00 to $7.00 and set an “outperform” rating on the stock in a report on Wednesday, May 15th. B. Riley dropped their target price on shares of Altus Power from $7.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Finally, Maxim Group began coverage on Altus Power in a research note on Wednesday, April 10th. They issued a “buy” rating and a $7.00 price objective for the company.

Get Our Latest Report on Altus Power

Altus Power Stock Performance

NYSE:AMPS opened at $4.26 on Friday. The company’s 50-day moving average is $4.07 and its two-hundred day moving average is $5.25. Altus Power has a 1-year low of $3.40 and a 1-year high of $7.28. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.48 and a quick ratio of 1.48. The firm has a market capitalization of $684.45 million, a price-to-earnings ratio of -85.18 and a beta of 1.01.

Altus Power (NYSE:AMPSGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). Altus Power had a negative return on equity of 1.37% and a negative net margin of 4.48%. The company had revenue of $40.66 million during the quarter, compared to analyst estimates of $39.13 million. During the same period in the prior year, the business posted ($0.05) earnings per share. Analysts forecast that Altus Power will post -0.07 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Gregg J. Felton acquired 82,576 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was acquired at an average price of $3.90 per share, for a total transaction of $322,046.40. Following the purchase, the chief executive officer now owns 11,977,179 shares of the company’s stock, valued at approximately $46,710,998.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Gregg J. Felton acquired 34,139 shares of Altus Power stock in a transaction dated Friday, June 7th. The shares were acquired at an average cost of $3.99 per share, for a total transaction of $136,214.61. Following the acquisition, the chief executive officer now owns 12,044,603 shares of the company’s stock, valued at $48,057,965.97. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Gregg J. Felton bought 82,576 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were purchased at an average price of $3.90 per share, with a total value of $322,046.40. Following the purchase, the chief executive officer now owns 11,977,179 shares of the company’s stock, valued at approximately $46,710,998.10. The disclosure for this purchase can be found here. Insiders have purchased a total of 129,215 shares of company stock worth $518,011 in the last quarter. 24.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Altus Power

Hedge funds and other institutional investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale acquired a new stake in Altus Power during the fourth quarter worth approximately $3,671,000. Vanguard Group Inc. lifted its position in Altus Power by 12.8% in the third quarter. Vanguard Group Inc. now owns 3,871,155 shares of the company’s stock valued at $20,324,000 after acquiring an additional 438,845 shares during the last quarter. Victory Capital Management Inc. acquired a new position in Altus Power in the fourth quarter valued at $72,000. Olympiad Research LP increased its position in shares of Altus Power by 8.2% during the fourth quarter. Olympiad Research LP now owns 62,704 shares of the company’s stock worth $428,000 after purchasing an additional 4,726 shares in the last quarter. Finally, Trexquant Investment LP purchased a new stake in shares of Altus Power in the 4th quarter valued at about $397,000. Institutional investors and hedge funds own 46.55% of the company’s stock.

About Altus Power

(Get Free Report

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.

Further Reading

Analyst Recommendations for Altus Power (NYSE:AMPS)

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