Altus Power (NYSE:AMPS) Trading Up 5.6% – Still a Buy?

Altus Power, Inc. (NYSE:AMPS) shares were up 5.6% on Friday . The company traded as high as $3.59 and last traded at $3.59. Approximately 170,938 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 1,062,441 shares. The stock had previously closed at $3.40.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AMPS shares. UBS Group reduced their price target 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. Morgan Stanley cut shares of Altus Power from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $8.00 to $4.00 in a report on Wednesday, August 21st. Maxim Group reduced their target price on shares of Altus Power from $5.50 to $4.50 and set a “buy” rating for the company in a report on Monday, August 12th. Citigroup reduced their target price on shares of Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $4.50 target price on shares of Altus Power in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $5.94.

Altus Power Trading Up 0.6 %

The company has a debt-to-equity ratio of 2.18, a current ratio of 0.91 and a quick ratio of 0.91. The business’s 50 day moving average price is $3.21 and its 200-day moving average price is $3.73. The firm has a market capitalization of $549.50 million, a price-to-earnings ratio of -68.40 and a beta of 0.96.

Altus Power (NYSE:AMPS) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.13. Altus Power had a net margin of 13.55% and a return on equity of 2.52%. The business had revenue of $52.46 million for the quarter, compared to analyst estimates of $57.61 million. Equities analysts forecast that Altus Power, Inc. will post 0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its position in shares of Altus Power by 7.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 44,257 shares of the company’s stock valued at $212,000 after purchasing an additional 3,116 shares during the last quarter. ANTIPODES PARTNERS Ltd grew its position in shares of Altus Power by 17.0% in the first quarter. ANTIPODES PARTNERS Ltd now owns 35,198 shares of the company’s stock valued at $168,000 after purchasing an additional 5,116 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Altus Power by 24.3% in the second quarter. The Manufacturers Life Insurance Company now owns 31,771 shares of the company’s stock valued at $125,000 after purchasing an additional 6,209 shares during the last quarter. American Century Companies Inc. grew its position in shares of 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. Finally, Summit Securities Group LLC acquired a new stake in shares of Altus Power in the second quarter valued at approximately $39,000. 46.55% of the stock is currently 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.