JPMorgan Chase & Co. Downgrades Altus Power (NYSE:AMPS) to Underweight

Altus Power (NYSE:AMPS) was downgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research note issued on Thursday, MarketBeat.com reports.

Several other analysts have also commented on AMPS. Roth Mkm reissued a “buy” rating and issued a $4.50 price objective on shares of Altus Power in a report on Wednesday, October 16th. Morgan Stanley cut Altus Power from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $8.00 to $4.00 in a report on Wednesday, August 21st. Finally, Citigroup reduced their target price on Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $5.21.

Altus Power Stock Up 1.9 %

Altus Power stock opened at $3.80 on Thursday. Altus Power has a 52 week low of $2.71 and a 52 week high of $7.28. The firm has a market cap of $611.04 million, a price-to-earnings ratio of 17.27 and a beta of 1.04. The business’s 50-day moving average price is $3.66 and its 200 day moving average price is $3.69. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10.

Institutional Trading of Altus Power

Hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its position in shares of 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 valued at $212,000 after buying an additional 3,116 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Altus Power in the second quarter valued at $284,000. Bank of New York Mellon Corp lifted its stake in shares of Altus Power by 25.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 242,455 shares of the company’s stock valued at $950,000 after purchasing an additional 48,608 shares during the last quarter. Bailard Inc. purchased a new position in shares of Altus Power during the 2nd quarter worth $114,000. Finally, Summit Securities Group LLC purchased a new position in Altus Power during the second quarter worth about $39,000. Hedge funds and other institutional investors own 46.55% of the company’s stock.

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.