Altus Power’s (AMPS) “Buy” Rating Reaffirmed at Roth Mkm

Roth Mkm reiterated their buy rating on shares of Altus Power (NYSE:AMPS) in a research report sent to investors on Tuesday morning, Benzinga reports. Roth Mkm currently has a $7.00 target price on the stock.

Several other research firms also recently weighed in on AMPS. Morgan Stanley restated an overweight rating and issued a $9.00 target price on shares of Altus Power in a research report on Thursday, April 11th. B. Riley decreased their price objective on Altus Power from $10.00 to $7.00 and set a buy rating on the stock in a report on Monday, April 22nd. Finally, Maxim Group assumed coverage on shares of Altus Power in a report on Wednesday, April 10th. They set a buy rating and a $7.00 target price for the company. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of Buy and an average price target of $8.25.

Altus Power Stock Performance

NYSE:AMPS opened at $4.35 on Tuesday. The company has a debt-to-equity ratio of 2.33, a quick ratio of 2.15 and a current ratio of 2.15. The stock has a market capitalization of $692.00 million, a PE ratio of -60.42 and a beta of 0.98. Altus Power has a fifty-two week low of $3.40 and a fifty-two week high of $7.28. The company has a fifty day moving average of $4.96 and a two-hundred day moving average of $5.50.

Altus Power (NYSE:AMPS) last released its earnings results on Thursday, March 14th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The company had revenue of $34.19 million for the quarter, compared to analysts’ expectations of $42.85 million. Altus Power had a negative return on equity of 0.30% and a negative net margin of 6.03%. As a group, research analysts forecast that Altus Power will post -0.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Gregg J. Felton acquired 12,500 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was purchased at an average price of $4.78 per share, with a total value of $59,750.00. Following the transaction, the chief executive officer now owns 11,894,603 shares of the company’s stock, valued at approximately $56,856,202.34. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Altus Power news, CFO Dustin Weber sold 4,350 shares of the business’s 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 sale, the chief financial officer now directly owns 1,884,926 shares in the company, valued at $13,477,220.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gregg J. Felton acquired 12,500 shares of the stock in a transaction dated Thursday, March 28th. The stock was acquired at an average cost of $4.78 per share, with a total value of $59,750.00. Following the purchase, the chief executive officer now owns 11,894,603 shares of the company’s stock, valued at approximately $56,856,202.34. The disclosure for this purchase can be found here. Insiders sold a total of 43,673 shares of company stock valued at $307,748 over the last 90 days. 24.30% of the stock is owned by company insiders.

Institutional Trading of Altus Power

Several hedge funds have recently modified their holdings of the stock. Handelsbanken Fonder AB acquired a new stake in Altus Power in the fourth quarter valued at approximately $5,298,000. abrdn plc lifted its position in shares of Altus Power by 1,217.7% during the 3rd quarter. abrdn plc now owns 619,300 shares of the company’s stock worth $3,251,000 after purchasing an additional 572,300 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Altus Power during the fourth quarter worth $3,671,000. Vanguard Group Inc. increased its holdings in Altus Power by 12.8% in the third quarter. Vanguard Group Inc. now owns 3,871,155 shares of the company’s stock valued at $20,324,000 after buying an additional 438,845 shares during the last quarter. Finally, Ardsley Advisory Partners LP raised its stake in Altus Power by 9.4% in the third quarter. Ardsley Advisory Partners LP now owns 1,125,000 shares of the company’s stock valued at $5,906,000 after buying an additional 96,687 shares in the last quarter. 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.