Altus Power, Inc. (NYSE:AMPS) Given Average Rating of “Hold” by Analysts

Altus Power, Inc. (NYSE:AMPS) has earned an average recommendation of “Hold” from the nine analysts that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $5.06.

Several research firms recently issued reports on AMPS. JPMorgan Chase & Co. upgraded shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a research report on Thursday, February 6th. B. Riley lowered shares of Altus Power from a “buy” rating to a “neutral” rating and cut their target price for the company from $6.00 to $5.00 in a research report on Friday, February 7th. Seaport Res Ptn lowered shares of Altus Power from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, UBS Group lowered shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 target price on the stock. in a research report on Monday, February 10th.

Insider Transactions at Altus Power

In other news, insider Anthony Savino sold 8,823 shares of Altus Power stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total transaction of $43,320.93. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregg J. Felton sold 71,161 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 transaction of $349,400.51. Following the transaction, the chief executive officer now 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. Over the last 90 days, insiders have sold 89,146 shares of company stock worth $437,707. Company insiders own 24.30% of the company’s stock.

Hedge Funds Weigh In On Altus Power

A number of hedge funds have recently modified their holdings of AMPS. US Bancorp DE lifted its holdings in shares of Altus Power by 11,326.2% during the fourth quarter. US Bancorp DE now owns 9,598 shares of the company’s stock worth $39,000 after purchasing an additional 9,514 shares during the period. Iridian Asset Management LLC CT bought a new position in Altus Power during the third quarter worth $40,000. HighTower Advisors LLC bought a new position in Altus Power during 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. Finally, SevenBridge Financial Group LLC bought a new position in Altus Power during the fourth quarter worth $41,000. Institutional investors and hedge funds own 46.55% of the company’s stock.

Altus Power Stock Performance

NYSE AMPS opened at $4.93 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.10. The firm has a market capitalization of $791.92 million, a price-to-earnings ratio of 22.39 and a beta of 1.05. The firm’s 50 day simple moving average is $4.27 and its 200 day simple moving average is $3.73. Altus Power has a 1 year low of $2.71 and a 1 year high of $7.01.

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.