Altus Power, Inc. (NYSE:AMPS) Given Consensus Recommendation of “Hold” by Brokerages

Altus Power, Inc. (NYSE:AMPS) has been given an average recommendation of “Hold” by the ten analysts that are presently covering the company, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $5.13.

A number of equities analysts have weighed in on AMPS shares. Roth Mkm restated a “neutral” rating and issued a $5.00 price target on shares of Altus Power in a report on Friday. Seaport Res Ptn cut Altus Power from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. B. Riley lowered Altus Power from a “buy” rating to a “neutral” rating and dropped their price target for the company from $6.00 to $5.00 in a research report on Friday, February 7th. UBS Group lowered Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 price target on the stock. in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. raised 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.

Altus Power Stock Up 0.1 %

Shares of NYSE:AMPS opened at $4.95 on Tuesday. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.60 and a current ratio of 0.60. Altus Power has a 1 year low of $2.71 and a 1 year high of $5.50. The stock has a market capitalization of $795.14 million, a P/E ratio of 22.48 and a beta of 0.98. The stock has a 50-day simple moving average of $4.52 and a 200-day simple moving average of $3.95.

Altus Power (NYSE:AMPS) last issued its earnings results on Monday, March 17th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). Altus Power had a return on equity of 4.79% and a net margin of 19.18%. The firm had revenue of $44.47 million for the quarter, compared to analysts’ expectations of $46.64 million. Equities analysts forecast that Altus Power will post 0.14 earnings per share for the current year.

Insider Buying and Selling at Altus Power

In related news, insider Anthony Savino sold 8,823 shares of Altus Power stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $4.91, for a total transaction of $43,320.93. Following the sale, the insider now directly owns 4,088,231 shares in the company, valued at $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 available through the SEC website. Also, CEO Gregg J. Felton sold 71,161 shares of Altus Power stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $4.91, for a total transaction of $349,400.51. Following the sale, the chief executive officer now owns 4,023,696 shares in the company, valued at approximately $19,756,347.36. This represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,146 shares of company stock worth $437,707. 24.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Altus Power

A number of hedge funds and other institutional investors have recently modified their holdings of AMPS. Encompass Capital Advisors LLC raised its stake in shares of Altus Power by 20.0% during the fourth quarter. Encompass Capital Advisors LLC now owns 8,027,318 shares of the company’s stock valued at $32,671,000 after purchasing an additional 1,336,044 shares in the last quarter. Quinn Opportunity Partners LLC acquired a new position in Altus Power during the fourth quarter worth about $1,887,000. Millennium Management LLC grew its holdings in Altus Power by 148.3% during the fourth quarter. Millennium Management LLC now owns 652,278 shares of the company’s stock worth $2,655,000 after acquiring an additional 389,605 shares during the period. Dimensional Fund Advisors LP grew its holdings in Altus Power by 7.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,648,599 shares of the company’s stock worth $14,850,000 after acquiring an additional 263,393 shares during the period. Finally, XTX Topco Ltd acquired a new position in Altus Power during the third quarter worth about $425,000. 46.55% of the stock is currently owned by 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.