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

Altus Power, Inc. (NYSE:AMPS) has earned a consensus recommendation of “Hold” from the ten analysts that are presently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $5.13.

Several analysts have recently weighed in on the stock. Roth Capital cut shares of Altus Power from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 20th. B. Riley cut shares of Altus Power from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $6.00 to $5.00 in a research report on Friday, February 7th. JPMorgan Chase & Co. upgraded shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a research report on Thursday, February 6th. Roth Mkm restated a “neutral” rating and set a $5.00 price objective on shares of Altus Power in a research report on Friday, March 21st. Finally, UBS Group cut shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 price objective on the stock. in a research report on Monday, February 10th.

Insider Activity

In related news, CFO Dustin Weber sold 9,162 shares of Altus Power stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $4.91, for a total transaction of $44,985.42. Following the completion of the transaction, the chief financial officer now directly owns 2,002,611 shares of the company’s stock, valued at $9,832,820.01. This trade represents a 0.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Gregg J. Felton sold 87,048 shares of Altus Power stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $4.96, for a total transaction of $431,758.08. Following the transaction, the chief executive officer now directly owns 3,852,712 shares of the company’s stock, valued at approximately $19,109,451.52. This trade represents a 2.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 221,422 shares of company stock valued at $1,093,796. Corporate insiders own 24.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Magnus Financial Group LLC purchased a new position in shares of Altus Power during the fourth quarter valued at approximately $333,000. Pictet Asset Management Holding SA raised its holdings in shares of Altus Power by 23.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 34,656 shares of the company’s stock valued at $141,000 after purchasing an additional 6,524 shares during the last quarter. Barclays PLC raised its holdings in shares of Altus Power by 312.8% during the third 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. Ballentine Partners LLC purchased a new position in shares of Altus Power during the fourth quarter valued at approximately $112,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Altus Power by 48.1% during the fourth quarter. Bank of New York Mellon Corp now owns 267,220 shares of the company’s stock valued at $1,088,000 after purchasing an additional 86,797 shares during the last quarter. 46.55% of the stock is owned by hedge funds and other institutional investors.

Altus Power Stock Performance

NYSE AMPS opened at $5.00 on Wednesday. Altus Power has a 1 year low of $2.71 and a 1 year high of $5.00. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a market capitalization of $801.30 million, a PE ratio of 22.70 and a beta of 0.94. The company’s 50 day simple moving average is $4.97 and its two-hundred day simple moving average is $4.40.

Altus Power (NYSE:AMPS) last posted its earnings results on Monday, March 17th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.28). Altus Power had a return on equity of 4.79% and a net margin of 19.18%. The firm had revenue of $44.47 million during the quarter, compared to analysts’ expectations of $46.64 million. Analysts predict that Altus Power will post 0.14 earnings per share for the current fiscal year.

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.