Brokerages Set Altus Power, Inc. (NYSE:AMPS) Target Price at $5.06

Shares of Altus Power, Inc. (NYSE:AMPS) have been given an average recommendation of “Hold” by the nine ratings firms that are currently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $5.06.

AMPS has been the subject of a number of analyst reports. B. Riley cut shares of Altus Power from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $6.00 to $5.00 in a report on Friday, February 7th. UBS Group cut shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 price target on the stock. in a report on Monday, February 10th. JPMorgan Chase & Co. upgraded shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a report on Thursday, February 6th. Finally, Seaport Res Ptn cut shares of Altus Power from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th.

Insider Buying and Selling at Altus Power

In other Altus Power news, insider Anthony Savino sold 8,823 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $4.91, for a total value of $43,320.93. Following the transaction, the insider now directly owns 4,088,231 shares in the company, valued at $20,073,214.21. The trade was a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Dustin Weber sold 9,162 shares of the business’s 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 owns 2,002,611 shares in the company, valued at approximately $9,832,820.01. The trade was a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 89,146 shares of company stock worth $437,707 over the last three months. 24.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Encompass Capital Advisors LLC boosted its stake in Altus Power by 20.0% in the fourth quarter. Encompass Capital Advisors LLC now owns 8,027,318 shares of the company’s stock valued at $32,671,000 after acquiring an additional 1,336,044 shares during the last quarter. State Street Corp raised its position in shares of Altus Power by 0.6% in the third quarter. State Street Corp now owns 3,682,864 shares of the company’s stock valued at $11,712,000 after purchasing an additional 21,312 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Altus Power by 7.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,648,599 shares of the company’s stock valued at $14,850,000 after purchasing an additional 263,393 shares during the period. Legal & General Group Plc raised its position in shares of Altus Power by 1.4% in the fourth quarter. Legal & General Group Plc now owns 1,905,722 shares of the company’s stock valued at $7,756,000 after purchasing an additional 26,760 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Altus Power by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,564,740 shares of the company’s stock valued at $6,370,000 after purchasing an additional 10,450 shares during the period. 46.55% of the stock is currently owned by hedge funds and other institutional investors.

Altus Power Stock Down 0.1 %

Shares of NYSE AMPS opened at $4.93 on Friday. The stock has a market capitalization of $791.92 million, a P/E ratio of 22.39 and a beta of 1.05. The company has a 50-day moving average price of $4.27 and a 200-day moving average price of $3.73. Altus Power has a 1 year low of $2.71 and a 1 year high of $7.01. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.60 and a quick ratio of 0.60.

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.