Altus Power (NYSE:AMPS) Cut to Underweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Altus Power (NYSE:AMPS) from a neutral rating to an underweight rating in a research note published on Thursday, MarketBeat reports.

A number of other equities research analysts have also weighed in on the stock. Citigroup lowered their price objective on shares of Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Roth Mkm reiterated a “buy” rating and issued a $4.50 price objective on shares of Altus Power in a research report on Wednesday, October 16th. Finally, Morgan Stanley cut Altus Power from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $8.00 to $4.00 in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Altus Power currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.21.

Altus Power Price Performance

Shares of NYSE AMPS opened at $3.80 on Thursday. The firm has a market capitalization of $611.02 million, a P/E ratio of 17.27 and a beta of 1.04. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10. The stock’s 50-day simple moving average is $3.66 and its two-hundred day simple moving average is $3.68. Altus Power has a twelve month low of $2.71 and a twelve month high of $7.28.

Hedge Funds Weigh In On Altus Power

Several institutional investors and hedge funds have recently modified their holdings of the stock. Summit Securities Group LLC bought a new position in Altus Power in the 2nd quarter valued at approximately $39,000. Iridian Asset Management LLC CT purchased a new position in shares of Altus Power in the third quarter worth $40,000. HighTower Advisors LLC bought a new position in shares of Altus Power during the third quarter valued at $41,000. Vaughan David Investments LLC IL purchased a new stake in shares of Altus Power during the second quarter valued at $55,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Altus Power in the 2nd quarter worth about $68,000. 46.55% of the stock is currently 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.