Altus Power, Inc. (NYSE:AMPS) Receives Average Rating of “Buy” from Brokerages

Shares of Altus Power, Inc. (NYSE:AMPS) have been assigned an average recommendation of “Buy” from the nine ratings firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $6.00.

A number of brokerages have recently issued reports on AMPS. Roth Mkm cut their price target on Altus Power from $5.00 to $4.50 and set a “buy” rating on the stock in a report on Friday, August 9th. UBS Group cut their target price on Altus Power from $5.50 to $5.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Seaport Res Ptn raised shares of Altus Power to a “strong-buy” rating in a research report on Monday, June 3rd. Maxim Group lowered their price target on shares of Altus Power from $5.50 to $4.50 and set a “buy” rating on the stock in a report on Monday, August 12th. Finally, Morgan Stanley lowered shares of Altus Power from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $8.00 to $4.00 in a research note on Wednesday, August 21st.

Altus Power Trading Up 4.3 %

NYSE AMPS opened at $3.38 on Tuesday. Altus Power has a one year low of $2.80 and a one year high of $7.28. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $543.47 million, a price-to-earnings ratio of -67.59 and a beta of 0.96. The company’s 50-day simple moving average is $3.39 and its two-hundred day simple moving average is $3.96.

Altus Power (NYSE:AMPS) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.13. The company had revenue of $52.46 million for the quarter, compared to analyst estimates of $57.61 million. Altus Power had a net margin of 13.55% and a return on equity of 2.52%. Equities analysts forecast that Altus Power will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Altus Power

Several hedge funds and other institutional investors have recently modified their holdings of AMPS. Swedbank AB purchased a new stake in Altus Power during the 1st quarter worth approximately $12,589,000. Dimensional Fund Advisors LP raised its holdings in shares of Altus Power by 37.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,974,269 shares of the company’s stock worth $11,662,000 after buying an additional 807,071 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Altus Power by 112.1% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 1,411,042 shares of the company’s stock worth $5,531,000 after buying an additional 745,810 shares during the period. Long Focus Capital Management LLC grew its holdings in shares of Altus Power by 427.6% during the second quarter. Long Focus Capital Management LLC now owns 549,081 shares of the company’s stock valued at $2,152,000 after buying an additional 445,000 shares during the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of Altus Power in the 2nd quarter valued at $1,085,000. 46.55% of the stock is 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.