Analysts Set Altus Power, Inc. (NYSE:AMPS) Target Price at $5.13

Altus Power, Inc. (NYSE:AMPS) has received a consensus rating of “Hold” from the ten brokerages that are presently covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $5.13.

Several brokerages recently issued reports on AMPS. Seaport Res Ptn lowered Altus Power from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. upgraded Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a research report on Thursday, February 6th. Roth Capital cut Altus Power from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 20th. UBS Group lowered shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 price target on the stock. in a report on Monday, February 10th. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $5.00 price objective on shares of Altus Power in a report on Friday, March 21st.

Insider Activity

In other Altus Power news, insider Anthony Savino sold 8,823 shares of Altus Power stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total value of $43,320.93. Following the completion of the transaction, the insider now owns 4,088,231 shares in the company, valued at approximately $20,073,214.21. The trade was a 0.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Dustin Weber sold 9,162 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total value of $44,985.42. Following the sale, the chief financial officer now owns 2,002,611 shares in the company, valued at $9,832,820.01. The trade was a 0.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 221,422 shares of company stock worth $1,093,796. Corporate insiders own 24.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AMPS. HighTower Advisors LLC bought a new stake in Altus Power during the 3rd quarter worth about $41,000. Janus Henderson Group PLC grew its stake in shares of Altus Power by 9.0% during the third quarter. Janus Henderson Group PLC now owns 44,792 shares of the company’s stock valued at $142,000 after purchasing an additional 3,709 shares during the last quarter. State Street Corp increased its holdings in shares of Altus Power by 0.6% in the third 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 in the last quarter. XTX Topco Ltd bought a new position in Altus Power in the 3rd quarter worth approximately $425,000. Finally, Barclays PLC raised its position in Altus Power by 312.8% in the 3rd quarter. Barclays PLC now owns 115,987 shares of the company’s stock worth $369,000 after purchasing an additional 87,886 shares during the last quarter. 46.55% of the stock is owned by institutional investors.

Altus Power Trading Down 0.2 %

Shares of Altus Power stock opened at $4.99 on Friday. The company has a market cap of $800.50 million, a price-to-earnings ratio of 22.68 and a beta of 0.94. Altus Power has a 1 year low of $2.71 and a 1 year high of $5.50. The company’s fifty day simple moving average is $4.93 and its 200-day simple moving average is $4.16. 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 (NYSE:AMPS) last posted its quarterly earnings data on Monday, March 17th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.28). The company had revenue of $44.47 million for the quarter, compared to the consensus estimate of $46.64 million. Altus Power had a return on equity of 4.79% and a net margin of 19.18%. As a group, sell-side analysts expect that Altus Power will post 0.14 EPS for the current year.

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.