Altus Power, Inc. (NYSE:AMPS) Given Consensus Rating of “Hold” by Analysts

Shares of Altus Power, Inc. (NYSE:AMPS) have received a consensus rating of “Hold” from the ten research firms that are presently covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $5.13.

A number of research analysts have commented on AMPS shares. Seaport Res Ptn lowered Altus Power from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. UBS Group cut shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 target price for the company. in a research report on Monday, February 10th. Roth Capital cut shares of Altus Power from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 20th. Roth Mkm reaffirmed a “neutral” rating and set a $5.00 price objective on shares of Altus Power in a research report on Friday, March 21st. Finally, B. Riley lowered Altus Power from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $6.00 to $5.00 in a research report on Friday, February 7th.

Altus Power Stock Performance

NYSE:AMPS opened at $5.00 on Wednesday. Altus Power has a 1 year low of $2.71 and a 1 year high of $5.00. The business has a fifty day simple moving average of $4.97 and a two-hundred day simple moving average of $4.41. The company has a market capitalization of $801.30 million, a P/E ratio of 22.70 and a beta of 0.94. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.60 and a quick ratio of 0.60.

Altus Power (NYSE:AMPS) last announced its quarterly earnings results on Monday, March 17th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.28). Altus Power had a net margin of 19.18% and a return on equity of 4.79%. The firm had revenue of $44.47 million during the quarter, compared to the consensus estimate of $46.64 million. On average, analysts expect that Altus Power will post 0.14 earnings per share for the current year.

Insider Buying and Selling

In other Altus Power news, CEO Gregg J. Felton sold 87,048 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $4.96, for a total value of $431,758.08. Following the transaction, the chief executive officer now directly owns 3,852,712 shares in the company, valued at $19,109,451.52. This represents a 2.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Dustin Weber sold 15,480 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $4.96, for a total transaction of $76,780.80. Following the transaction, the chief financial officer now directly owns 1,966,208 shares in the company, valued at approximately $9,752,391.68. This trade represents a 0.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 221,422 shares of company stock valued at $1,093,796. Company insiders own 24.30% of the company’s stock.

Institutional Trading of Altus Power

A number of large investors have recently modified their holdings of the company. Barclays PLC lifted its stake in Altus Power by 312.8% in the third quarter. Barclays PLC now owns 115,987 shares of the company’s stock worth $369,000 after acquiring an additional 87,886 shares during the period. Avanza Fonder AB bought a new stake in shares of Altus Power in the 4th quarter valued at about $213,000. Ballentine Partners LLC purchased a new stake in shares of Altus Power in the 4th quarter worth approximately $112,000. Magnus Financial Group LLC bought a new position in shares of Altus Power during the fourth quarter valued at approximately $333,000. Finally, SG Americas Securities LLC boosted its stake in shares of Altus Power by 19.6% during the fourth quarter. SG Americas Securities LLC now owns 36,058 shares of the company’s stock valued at $147,000 after purchasing an additional 5,912 shares in the last quarter. 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.