Altus Power (NYSE:AMPS) Stock Price Up 5.9%

Altus Power, Inc. (NYSE:AMPS)’s share price rose 5.9% during mid-day trading on Friday . The company traded as high as $3.43 and last traded at $3.43. Approximately 106,120 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 1,071,782 shares. The stock had previously closed at $3.24.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AMPS. B. Riley upgraded shares of Altus Power to a “strong-buy” rating in a research report on Tuesday, June 25th. Morgan Stanley downgraded shares of Altus Power from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $8.00 to $4.00 in a research report on Wednesday, August 21st. Roth Mkm reduced their price objective on shares of Altus Power from $5.00 to $4.50 and set a “buy” rating for the company in a research report on Friday, August 9th. UBS Group reduced their price objective on shares of Altus Power from $5.50 to $5.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Maxim Group reduced their price objective on shares of Altus Power from $5.50 to $4.50 and set a “buy” rating for the company in a research report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Altus Power presently has an average rating of “Buy” and an average price target of $6.00.

Altus Power Stock Up 4.3 %

The business’s fifty day moving average price is $3.39 and its 200 day moving average price is $3.96. The firm has a market capitalization of $543.47 million, a price-to-earnings ratio of -67.59 and a beta of 0.96. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 2.18.

Altus Power (NYSE:AMPS) last announced its earnings results on Thursday, August 8th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.13. The business had revenue of $52.46 million for the quarter, compared to analysts’ expectations of $57.61 million. Altus Power had a net margin of 13.55% and a return on equity of 2.52%. On average, equities analysts expect that Altus Power, Inc. will post 0.08 EPS for the current year.

Hedge Funds Weigh In On Altus Power

Several institutional investors have recently bought and sold shares of AMPS. Summit Securities Group LLC acquired a new position in Altus Power in the 2nd quarter valued at $39,000. Vaughan David Investments LLC IL acquired a new position in Altus Power in the 2nd quarter valued at $55,000. Susquehanna Fundamental Investments LLC acquired a new position in Altus Power in the 2nd quarter valued at $68,000. Jacobs Levy Equity Management Inc. acquired a new position in Altus Power in the 1st quarter valued at $88,000. Finally, Bailard Inc. acquired a new position in Altus Power in the 2nd quarter valued at $114,000. 46.55% of the stock is owned by institutional investors and hedge funds.

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.