Altus Power (NYSE:AMPS) Price Target Cut to $5.50 by Analysts at Citigroup

Altus Power (NYSE:AMPS) had its target price cut by equities research analysts at Citigroup from $7.00 to $5.50 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 60.58% from the stock’s previous close.

AMPS has been the subject of a number of other research reports. Morgan Stanley cut Altus Power from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $8.00 to $4.00 in a research note on Wednesday, August 21st. UBS Group reduced their price target on Altus Power from $5.50 to $5.00 and set a “buy” rating for the company in a report on Friday, August 9th. Maxim Group dropped their price target on shares of Altus Power from $5.50 to $4.50 and set a “buy” rating on the stock in a research note on Monday, August 12th. B. Riley raised shares of Altus Power to a “strong-buy” rating in a report on Tuesday, June 25th. Finally, Roth Mkm reiterated a “buy” rating and set a $4.50 price target on shares of Altus Power in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Altus Power has an average rating of “Buy” and a consensus target price of $5.94.

Altus Power Stock Down 1.6 %

NYSE:AMPS opened at $3.43 on Tuesday. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.91 and a quick ratio of 0.91. The firm’s 50-day moving average price is $3.18 and its 200-day moving average price is $3.76. The company has a market capitalization of $550.30 million, a PE ratio of -68.50 and a beta of 0.96. Altus Power has a 1-year low of $2.71 and a 1-year high of $7.28.

Altus Power (NYSE:AMPS) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.13. Altus Power had a net margin of 13.55% and a return on equity of 2.52%. The business had revenue of $52.46 million for the quarter, compared to analysts’ expectations of $57.61 million. On average, equities analysts predict that Altus Power will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Altus Power

Hedge funds and other institutional investors have recently modified their holdings of the company. Swedbank AB purchased a new stake in Altus Power during the first quarter valued at $12,589,000. Dimensional Fund Advisors LP grew its stake in shares of Altus Power by 37.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,974,269 shares of the company’s stock valued at $11,662,000 after purchasing an additional 807,071 shares during the period. Skandinaviska Enskilda Banken AB publ increased its position in shares of Altus Power by 112.1% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,411,042 shares of the company’s stock valued at $5,531,000 after purchasing an additional 745,810 shares during the last quarter. Long Focus Capital Management LLC lifted its stake in shares of Altus Power by 427.6% in the 2nd quarter. Long Focus Capital Management LLC now owns 549,081 shares of the company’s stock worth $2,152,000 after purchasing an additional 445,000 shares during the period. Finally, Jupiter Asset Management Ltd. purchased a new position in shares of Altus Power in the second quarter worth approximately $1,085,000. 46.55% of the stock is owned by institutional investors.

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.