Altus Power (NYSE:AMPS) Stock Price Up 6.1%

Altus Power, Inc. (NYSE:AMPS) shares were up 6.1% during trading on Wednesday . The stock traded as high as $4.75 and last traded at $4.73. Approximately 245,739 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 1,088,071 shares. The stock had previously closed at $4.46.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. B. Riley upped their target price on shares of Altus Power from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Northland Securities initiated coverage on Altus Power in a research report on Thursday, November 30th. They set an “outperform” rating and a $10.00 target price on the stock. Roth Mkm dropped their price target on Altus Power from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. Finally, Morgan Stanley dropped their target price on Altus Power from $11.00 to $9.00 and set an “overweight” rating on the stock in a report on Friday, December 8th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $8.63.

Altus Power Stock Up 6.3 %

The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 2.33. The firm has a 50-day moving average of $5.97 and a two-hundred day moving average of $5.72. The stock has a market capitalization of $754.04 million, a price-to-earnings ratio of -67.85 and a beta of 0.95.

Insider Buying and Selling

In other news, CEO Lars Norell sold 40,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $5.58, for a total transaction of $223,200.00. Following the transaction, the chief executive officer now owns 21,654,907 shares of the company’s stock, valued at $120,834,381.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Dustin Weber sold 4,350 shares of Altus Power stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $7.15, for a total transaction of $31,102.50. Following the completion of the sale, the chief financial officer now owns 1,884,926 shares of the company’s stock, valued at approximately $13,477,220.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lars Norell sold 40,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $5.58, for a total value of $223,200.00. Following the sale, the chief executive officer now owns 21,654,907 shares in the company, valued at $120,834,381.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 144,673 shares of company stock valued at $950,978. 31.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AMPS. Ensign Peak Advisors Inc bought a new position in shares of Altus Power in the third quarter valued at approximately $26,000. Advisors Asset Management Inc. bought a new stake in Altus Power during the 4th quarter worth approximately $37,000. JPMorgan Chase & Co. bought a new position in Altus Power in the 1st quarter worth about $39,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Altus Power in the 3rd quarter valued at about $41,000. Finally, Point72 Middle East FZE purchased a new position in shares of Altus Power during the fourth quarter worth about $41,000. 46.55% of the stock is owned by institutional investors and hedge funds.

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.