Altus Power (NYSE:AMPS) Earns “Neutral” Rating from Roth Mkm

Roth Mkm reaffirmed their neutral rating on shares of Altus Power (NYSE:AMPS) in a research note released on Friday morning,Benzinga reports. They currently have a $5.00 target price on the stock.

Other equities research analysts also recently issued reports about the company. UBS Group downgraded Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 price target for the company. in a research note on Monday, February 10th. Seaport Res Ptn cut Altus Power from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. B. Riley downgraded shares of Altus Power from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $6.00 to $5.00 in a report on Friday, February 7th. Finally, 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 report on Thursday, February 6th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Altus Power presently has a consensus rating of “Hold” and a consensus price target of $5.13.

Altus Power Stock Performance

Shares of AMPS stock opened at $4.95 on Friday. The company’s 50-day moving average is $4.52 and its 200 day moving average is $3.96. Altus Power has a one year low of $2.71 and a one year high of $5.50. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market capitalization of $795.14 million, a price-to-earnings ratio of 22.48 and a beta of 0.98.

Altus Power (NYSE:AMPS) last released its quarterly earnings data on Monday, March 17th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.28). Altus Power had a net margin of 19.18% and a return on equity of 4.79%. The business had revenue of $44.47 million for the quarter, compared to analysts’ expectations of $46.64 million. Sell-side analysts expect that Altus Power will post 0.14 EPS for the current fiscal year.

Insider Buying and Selling

In other Altus Power news, insider Anthony Savino sold 8,823 shares of the business’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 $43,320.93. Following the completion of the sale, the insider now directly owns 4,088,231 shares of the company’s stock, valued at $20,073,214.21. The trade was a 0.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gregg J. Felton sold 71,161 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total value of $349,400.51. Following the completion of the transaction, the chief executive officer now directly owns 4,023,696 shares in the company, valued at approximately $19,756,347.36. This trade represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,146 shares of company stock valued at $437,707. Company insiders own 24.30% of the company’s stock.

Hedge Funds Weigh In On Altus Power

Several institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC boosted its holdings in shares of Altus Power by 9.0% in the 3rd quarter. Janus Henderson Group PLC now owns 44,792 shares of the company’s stock valued at $142,000 after buying an additional 3,709 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Altus Power by 8.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 54,512 shares of the company’s stock valued at $222,000 after purchasing an additional 4,395 shares during the last quarter. ProShare Advisors LLC grew its holdings in Altus Power by 11.5% during the fourth quarter. ProShare Advisors LLC now owns 49,869 shares of the company’s stock worth $203,000 after acquiring an additional 5,143 shares during the period. SG Americas Securities LLC grew its stake in shares of Altus Power by 19.6% during the 4th quarter. SG Americas Securities LLC now owns 36,058 shares of the company’s stock worth $147,000 after purchasing an additional 5,912 shares during the period. Finally, Pictet Asset Management Holding SA grew its position in Altus Power by 23.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 34,656 shares of the company’s stock valued at $141,000 after buying an additional 6,524 shares during the period. 46.55% of the stock is owned by hedge funds and other institutional investors.

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.