Altus Power, Inc. (NYSE:AMPS) Given Consensus Rating of “Moderate Buy” by Brokerages

Altus Power, Inc. (NYSE:AMPS) has received an average rating of “Moderate Buy” from the nine analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $5.21.

Several equities research analysts recently weighed in on the company. Citigroup cut their price objective on Altus Power from $7.00 to $5.50 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Roth Mkm restated a “buy” rating and set a $4.50 price target on shares of Altus Power in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. lowered shares of Altus Power from a “neutral” rating to an “underweight” rating in a report on Thursday, December 12th.

Altus Power Stock Performance

NYSE AMPS opened at $4.07 on Thursday. The firm’s fifty day moving average price is $3.84 and its two-hundred day moving average price is $3.66. The stock has a market cap of $654.44 million, a PE ratio of 18.50 and a beta of 1.04. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.60 and a current ratio of 0.60. Altus Power has a fifty-two week low of $2.71 and a fifty-two week high of $7.28.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Encompass Capital Advisors LLC lifted its holdings in Altus Power by 1.2% in the second quarter. Encompass Capital Advisors LLC now owns 4,628,613 shares of the company’s stock valued at $18,144,000 after buying an additional 53,031 shares during the period. State Street Corp lifted its stake in shares of Altus Power by 0.6% in the 3rd quarter. State Street Corp now owns 3,682,864 shares of the company’s stock valued at $11,712,000 after purchasing an additional 21,312 shares during the period. Dimensional Fund Advisors LP grew its stake in Altus Power by 37.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,974,269 shares of the company’s stock worth $11,662,000 after purchasing an additional 807,071 shares during the period. abrdn plc increased its holdings in Altus Power by 8.7% in the third quarter. abrdn plc now owns 1,444,400 shares of the company’s stock worth $4,593,000 after purchasing an additional 115,300 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its stake in Altus Power by 112.1% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 1,411,042 shares of the company’s stock valued at $5,531,000 after buying an additional 745,810 shares during the period. Institutional investors and hedge funds own 46.55% of the company’s stock.

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.