Altus Power, Inc. (NYSE:AMPS) Receives $5.06 Average Target Price from Brokerages

Shares of Altus Power, Inc. (NYSE:AMPS) have been given a consensus recommendation of “Hold” by the nine research firms that are covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $5.06.

AMPS has been the topic of a number of research analyst reports. UBS Group cut shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 price target on the stock. in a research report on Monday, February 10th. Seaport Res Ptn lowered shares of Altus Power from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. upgraded shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a report on Thursday, February 6th. Finally, B. Riley lowered shares of Altus Power from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $6.00 to $5.00 in a report on Friday, February 7th.

Insider Buying and Selling

In related news, CEO Gregg J. Felton sold 71,161 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $4.91, for a total value of $349,400.51. Following the sale, the chief executive officer now owns 4,023,696 shares in the company, valued at $19,756,347.36. This represents a 1.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Dustin Weber sold 9,162 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $4.91, for a total transaction of $44,985.42. Following the completion of the sale, the chief financial officer now owns 2,002,611 shares in the company, valued at $9,832,820.01. This represents a 0.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,146 shares of company stock worth $437,707 in the last quarter. Insiders own 24.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. US Bancorp DE boosted its holdings in Altus Power by 11,326.2% in the 4th quarter. US Bancorp DE now owns 9,598 shares of the company’s stock worth $39,000 after buying an additional 9,514 shares during the period. HighTower Advisors LLC purchased a new stake in Altus Power in the 3rd quarter worth approximately $41,000. Citizens Financial Group Inc. RI purchased a new stake in Altus Power in the 4th quarter worth approximately $41,000. SevenBridge Financial Group LLC purchased a new stake in Altus Power in the 4th quarter worth approximately $41,000. Finally, One68 Global Capital LLC purchased a new stake in Altus Power in the 4th quarter worth approximately $41,000. 46.55% of the stock is owned by institutional investors.

Altus Power Stock Performance

Shares of AMPS opened at $4.95 on Tuesday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.10. The stock has a market capitalization of $795.14 million, a P/E ratio of 22.48 and a beta of 0.98. The firm’s fifty day simple moving average is $4.51 and its two-hundred day simple moving average is $3.93. Altus Power has a 12 month low of $2.71 and a 12 month high of $5.50.

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

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.