Altus Power (NYSE:AMPS) Trading Down 4.8%

Shares of Altus Power, Inc. (NYSE:AMPS) traded down 4.8% during mid-day trading on Monday . The company traded as low as $3.34 and last traded at $3.34. 355,439 shares were traded during mid-day trading, a decline of 67% from the average session volume of 1,075,836 shares. The stock had previously closed at $3.51.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. UBS Group dropped their price target 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. B. Riley upgraded Altus Power to a “strong-buy” rating in a research note on Tuesday, June 25th. Seaport Res Ptn upgraded Altus Power to a “strong-buy” rating in a research note on Monday, June 3rd. Maxim Group dropped their price target on Altus Power from $5.50 to $4.50 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, Morgan Stanley downgraded Altus Power from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $8.00 to $4.00 in a research report on Wednesday, August 21st. Two 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’s stock. According to data from MarketBeat, Altus Power currently has a consensus rating of “Buy” and an average target price of $6.00.

Altus Power Stock Down 6.3 %

The company has a 50-day moving average price of $3.50 and a 200 day moving average price of $4.05. The firm has a market capitalization of $528.61 million, a PE ratio of -65.60 and a beta of 0.96. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.91 and a quick ratio of 0.91.

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

Institutional Investors Weigh In On Altus Power

Several large investors have recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Altus Power by 14.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 297,713 shares of the company’s stock worth $1,167,000 after acquiring an additional 38,272 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Altus Power during the second quarter worth approximately $68,000. Long Focus Capital Management LLC increased its stake in Altus Power by 427.6% during the second quarter. Long Focus Capital Management LLC now owns 549,081 shares of the company’s stock worth $2,152,000 after acquiring an additional 445,000 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Altus Power by 24.3% during the second quarter. The Manufacturers Life Insurance Company now owns 31,771 shares of the company’s stock worth $125,000 after acquiring an additional 6,209 shares during the last quarter. Finally, Encompass Capital Advisors LLC increased its stake in Altus Power by 1.2% during the second quarter. Encompass Capital Advisors LLC now owns 4,628,613 shares of the company’s stock worth $18,144,000 after acquiring an additional 53,031 shares during the last quarter. 46.55% of the stock is owned by institutional investors.

About Altus Power

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.