Seaport Res Ptn Upgrades Altus Power (NYSE:AMPS) to Strong-Buy

Seaport Res Ptn upgraded shares of Altus Power (NYSE:AMPS) to a strong-buy rating in a research note released on Monday morning, Zacks.com reports. Seaport Res Ptn also issued estimates for Altus Power’s Q2 2024 earnings at $0.04 EPS, Q3 2024 earnings at $0.04 EPS, Q4 2024 earnings at $0.04 EPS, FY2024 earnings at $0.04 EPS, Q1 2025 earnings at $0.04 EPS, Q2 2025 earnings at $0.04 EPS, Q3 2025 earnings at $0.04 EPS, Q4 2025 earnings at $0.04 EPS, FY2025 earnings at $0.04 EPS, Q1 2026 earnings at $0.04 EPS and FY2026 earnings at $0.04 EPS.

Other research analysts have also issued research reports about the company. Roth Mkm dropped their price objective on Altus Power from $7.00 to $5.00 and set a buy rating on the stock in a report on Thursday, May 16th. Maxim Group began coverage on Altus Power in a report on Wednesday, April 10th. They set a buy rating and a $7.00 price objective on the stock. Morgan Stanley reissued an overweight rating and issued a $9.00 target price on shares of Altus Power in a report on Thursday, April 11th. B. Riley lowered their target price on Altus Power from $7.00 to $6.00 and set a buy rating on the stock in a report on Wednesday, May 15th. Finally, JPMorgan Chase & Co. lowered Altus Power from an overweight rating to a neutral rating in a report on Wednesday, May 15th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus target price of $7.50.

Altus Power Trading Down 2.3 %

Shares of AMPS stock opened at $4.19 on Monday. The business’s fifty day moving average price is $4.15 and its 200 day moving average price is $5.30. Altus Power has a 1-year low of $3.40 and a 1-year high of $7.28. The firm has a market capitalization of $673.21 million, a PE ratio of -83.78 and a beta of 1.01. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.48 and a quick ratio of 1.48.

Altus Power (NYSE:AMPS) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.08) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.08). Altus Power had a negative return on equity of 1.37% and a negative net margin of 4.48%. The firm had revenue of $40.66 million for the quarter, compared to analyst estimates of $39.13 million. During the same quarter in the prior year, the company posted ($0.05) earnings per share. As a group, sell-side analysts forecast that Altus Power will post -0.07 EPS for the current fiscal year.

Insider Activity at Altus Power

In related news, CEO Gregg J. Felton acquired 82,576 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were acquired at an average price of $3.90 per share, with a total value of $322,046.40. Following the completion of the purchase, the chief executive officer now directly owns 11,977,179 shares in the company, valued at $46,710,998.10. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other Altus Power news, CEO Gregg J. Felton bought 12,500 shares of Altus Power stock in a transaction that occurred on Thursday, March 28th. The shares were purchased at an average cost of $4.78 per share, for a total transaction of $59,750.00. Following the completion of the transaction, the chief executive officer now owns 11,894,603 shares of the company’s stock, valued at approximately $56,856,202.34. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregg J. Felton bought 82,576 shares of Altus Power stock in a transaction that occurred on Friday, May 31st. The shares were acquired at an average price of $3.90 per share, for a total transaction of $322,046.40. Following the completion of the transaction, the chief executive officer now directly owns 11,977,179 shares of the company’s stock, valued at approximately $46,710,998.10. The disclosure for this purchase can be found here. Corporate insiders own 24.30% of the company’s stock.

Hedge Funds Weigh In On Altus Power

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Altus Power by 12.8% during the third quarter. Vanguard Group Inc. now owns 3,871,155 shares of the company’s stock worth $20,324,000 after buying an additional 438,845 shares during the period. Swedbank AB purchased a new position in Altus Power during the first quarter worth about $12,589,000. Ardsley Advisory Partners LP lifted its position in Altus Power by 9.4% during the third quarter. Ardsley Advisory Partners LP now owns 1,125,000 shares of the company’s stock worth $5,906,000 after buying an additional 96,687 shares during the period. Handelsbanken Fonder AB purchased a new position in Altus Power during the fourth quarter worth about $5,298,000. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in Altus Power by 2.0% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 678,732 shares of the company’s stock worth $3,563,000 after buying an additional 13,500 shares during the period. 46.55% of the stock is currently owned by hedge funds and other institutional investors.

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.