Altus Power, Inc. (NYSE:AMPS) Receives $6.00 Consensus Target Price from Brokerages

Shares of Altus Power, Inc. (NYSE:AMPS) have earned a consensus recommendation of “Buy” from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, five have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $6.00.

A number of analysts have recently commented on the company. 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 report on Monday, August 12th. Morgan Stanley cut Altus Power from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $8.00 to $4.00 in a research note on Wednesday, August 21st. UBS Group lowered their price target on Altus Power from $5.50 to $5.00 and set a “buy” rating for the company in a research report on Friday, August 9th. B. Riley raised shares of Altus Power to a “strong-buy” rating in a research report on Tuesday, June 25th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $4.50 target price on shares of Altus Power in a report on Wednesday, October 16th.

Altus Power Price Performance

AMPS opened at $3.62 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 2.18. The company has a market cap of $580.83 million, a price-to-earnings ratio of -72.00 and a beta of 0.96. The stock has a fifty day simple moving average of $3.16 and a two-hundred day simple moving average of $3.77. Altus Power has a 12-month low of $2.71 and a 12-month high of $7.28.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AMPS. Summit Securities Group LLC bought a new stake in shares of Altus Power during the 2nd quarter valued at $39,000. Vaughan David Investments LLC IL bought a new stake in Altus Power during the second quarter valued at about $55,000. Susquehanna Fundamental Investments LLC purchased a new stake in Altus Power in the second quarter worth about $68,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Altus Power in the first quarter worth about $88,000. Finally, SG Americas Securities LLC lifted its position in shares of Altus Power by 135.9% during the 3rd quarter. SG Americas Securities LLC now owns 30,146 shares of the company’s stock valued at $96,000 after buying an additional 17,368 shares in the last quarter. 46.55% of the stock is owned by hedge funds and other 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.