Altus Power, Inc. (NYSE:AMPS) Receives Consensus Recommendation of “Hold” from Brokerages

Altus Power, Inc. (NYSE:AMPS) has been given an average recommendation of “Hold” by the ten analysts that are covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $5.13.

A number of brokerages recently weighed in on AMPS. UBS Group cut Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 price target on the stock. in a research note on Monday, February 10th. JPMorgan Chase & Co. raised Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a research note on Thursday, February 6th. Roth Mkm reaffirmed a “neutral” rating and set a $5.00 target price on shares of Altus Power in a research note on Friday. B. Riley cut Altus Power from a “buy” rating to a “neutral” rating and lowered their target price for the company from $6.00 to $5.00 in a research note on Friday, February 7th. Finally, Roth Capital cut Altus Power from a “strong-buy” rating to a “hold” rating in a research note on Thursday.

Insider Activity

In other news, CFO Dustin Weber sold 9,162 shares of Altus Power stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $4.91, for a total transaction of $44,985.42. Following the completion of the sale, the chief financial officer now directly owns 2,002,611 shares in the company, valued at $9,832,820.01. The trade was a 0.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anthony Savino sold 8,823 shares of Altus Power 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 sale, the insider now owns 4,088,231 shares of the company’s stock, valued at approximately $20,073,214.21. This represents a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,146 shares of company stock worth $437,707 in the last three months. 24.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Altus Power

Several institutional investors have recently made changes to their positions in the company. Magnus Financial Group LLC acquired a new stake in Altus Power in the 4th quarter worth approximately $333,000. Barclays PLC lifted its holdings in Altus Power by 312.8% in the 3rd quarter. Barclays PLC now owns 115,987 shares of the company’s stock worth $369,000 after purchasing an additional 87,886 shares during the last quarter. Ballentine Partners LLC acquired a new stake in Altus Power in the 4th quarter worth approximately $112,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Altus Power by 798.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 73,508 shares of the company’s stock worth $234,000 after purchasing an additional 65,327 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in Altus Power in the 3rd quarter worth approximately $425,000. 46.55% of the stock is currently owned by institutional investors and hedge funds.

Altus Power Price Performance

NYSE:AMPS opened at $4.95 on Tuesday. The business’s 50-day moving average price is $4.52 and its 200 day moving average price is $3.95. The firm has a market cap of $795.14 million, a P/E ratio of 22.48 and a beta of 0.98. Altus Power has a 52-week low of $2.71 and a 52-week high of $5.50. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10.

Altus Power (NYSE:AMPS) last issued its quarterly earnings results on Monday, March 17th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). The company had revenue of $44.47 million during the quarter, compared to analysts’ expectations of $46.64 million. Altus Power had a return on equity of 4.79% and a net margin of 19.18%. As a group, sell-side analysts predict that Altus Power will post 0.14 earnings per share for the current fiscal year.

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.