Altus Power (NYSE:AMPS) Trading Down 3.8%

Altus Power, Inc. (NYSE:AMPS) traded down 3.8% during trading on Monday . The company traded as low as $3.25 and last traded at $3.25. 90,510 shares traded hands during trading, a decline of 92% from the average session volume of 1,071,899 shares. The stock had previously closed at $3.38.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AMPS shares. Maxim Group cut 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. Morgan Stanley lowered Altus Power from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $8.00 to $4.00 in a research note on Wednesday, August 21st. Roth Mkm lowered their price objective on Altus Power from $5.00 to $4.50 and set a “buy” rating for the company in a research report on Friday, August 9th. B. Riley upgraded Altus Power to a “strong-buy” rating in a research report on Tuesday, June 25th. Finally, UBS Group lowered their target price on shares of Altus Power from $5.50 to $5.00 and set a “buy” rating for the company in a report on Friday, August 9th. Two equities research 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’s stock. Based on data from MarketBeat, Altus Power has an average rating of “Buy” and an average target price of $6.00.

Altus Power Stock Performance

The stock’s 50-day moving average is $3.34 and its 200-day moving average is $3.91. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 2.18. The stock has a market cap of $501.30 million, a price-to-earnings ratio of -62.40 and a beta of 0.96.

Altus Power (NYSE:AMPS) last issued 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 the consensus estimate of $57.61 million. Altus Power had a net margin of 13.55% and a return on equity of 2.52%. On average, analysts expect that Altus Power, Inc. will post 0.08 EPS for the current year.

Institutional Investors Weigh In On Altus Power

A number of large investors have recently modified their holdings of AMPS. Price T Rowe Associates Inc. MD increased its stake in Altus Power by 7.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 44,257 shares of the company’s stock worth $212,000 after buying an additional 3,116 shares during the period. ANTIPODES PARTNERS Ltd increased its position in shares of Altus Power by 17.0% during the first quarter. ANTIPODES PARTNERS Ltd now owns 35,198 shares of the company’s stock worth $168,000 after acquiring an additional 5,116 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Altus Power by 24.3% during the second quarter. The Manufacturers Life Insurance Company now owns 31,771 shares of the company’s stock worth $125,000 after acquiring an additional 6,209 shares during the last quarter. Bouvel Investment Partners LLC lifted its stake in shares of Altus Power by 2.8% in the first quarter. Bouvel Investment Partners LLC now owns 305,673 shares of the company’s stock worth $1,461,000 after acquiring an additional 8,295 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Altus Power by 14.3% in the second quarter. American Century Companies Inc. now owns 72,322 shares of the company’s stock valued at $284,000 after purchasing an additional 9,062 shares during the last quarter. Institutional investors and hedge funds own 46.55% of the company’s stock.

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.