Altus Power (NYSE:AMPS) Lowered to “Hold” Rating by Roth Capital

Roth Capital downgraded shares of Altus Power (NYSE:AMPS) from a strong-buy rating to a hold rating in a research report report published on Thursday,Zacks.com reports.

A number of other equities research analysts have also issued reports on AMPS. Roth Mkm reissued a “neutral” rating and set a $5.00 target price on shares of Altus Power in a research note on Friday. UBS Group cut Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 price objective for the company. in a research report on Monday, February 10th. JPMorgan Chase & Co. upgraded Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a research note on Thursday, February 6th. B. Riley downgraded Altus Power from a “buy” rating to a “neutral” rating and cut their price target for the stock from $6.00 to $5.00 in a research note on Friday, February 7th. Finally, Seaport Res Ptn cut Altus Power from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $5.13.

Altus Power Stock Up 0.1 %

NYSE:AMPS opened at $4.95 on Thursday. The business’s fifty day moving average price is $4.52 and its 200 day moving average price is $3.95. The firm has a market capitalization of $795.14 million, a price-to-earnings ratio of 22.48 and a beta of 0.98. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.10. Altus Power has a 1-year low of $2.71 and a 1-year high of $5.50.

Altus Power (NYSE:AMPS) last issued its earnings results on Monday, March 17th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). The business had revenue of $44.47 million during the quarter, compared to analyst estimates of $46.64 million. Altus Power had a net margin of 19.18% and a return on equity of 4.79%. On average, sell-side analysts forecast that Altus Power will post 0.14 earnings per share for the current fiscal year.

Insider Activity

In other Altus Power news, insider Anthony Savino sold 8,823 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 transaction of $43,320.93. Following the completion of the sale, the insider now directly owns 4,088,231 shares in the company, valued at $20,073,214.21. This represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregg J. Felton sold 71,161 shares of the firm’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 completion of the sale, the chief executive officer now directly owns 4,023,696 shares in the company, valued at approximately $19,756,347.36. This represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,146 shares of company stock valued at $437,707. Insiders own 24.30% of the company’s stock.

Institutional Trading of Altus Power

Several hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE increased its position 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 acquired a new stake in shares of Altus Power in the third quarter worth $41,000. Citizens Financial Group Inc. RI bought a new position in Altus Power during the fourth quarter worth $41,000. SevenBridge Financial Group LLC acquired a new position in Altus Power during the 4th quarter valued at $41,000. Finally, One68 Global Capital LLC bought a new stake in Altus Power in the 4th quarter valued at $41,000. 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.