Brokerages Set Altus Power, Inc. (NYSE:AMPS) Target Price at $5.94

Altus Power, Inc. (NYSE:AMPS) has earned a consensus recommendation of “Buy” from the ten research firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $5.81.

AMPS has been the topic of several research analyst reports. Morgan Stanley cut shares of Altus Power from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $8.00 to $4.00 in a research report on Wednesday, August 21st. 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 report on Friday, August 9th. Maxim Group reduced their target price on Altus Power from $5.50 to $4.50 and set a “buy” rating for the company in a report on Monday, August 12th. Roth Mkm restated a “buy” rating and issued a $4.50 target price on shares of Altus Power in a research note on Wednesday, October 16th. Finally, Citigroup lowered their price objective on Altus Power from $7.00 to $5.50 and set a “buy” rating on the stock in a report on Tuesday, October 22nd.

Altus Power Price Performance

AMPS opened at $3.85 on Wednesday. The company has a 50 day moving average of $3.35 and a two-hundred day moving average of $3.70. The company has a quick ratio of 0.91, a current ratio of 0.60 and a debt-to-equity ratio of 2.10. Altus Power has a 52-week low of $2.71 and a 52-week high of $7.28. The company has a market cap of $618.23 million, a P/E ratio of 17.48 and a beta of 0.94.

Institutional Trading of Altus Power

Hedge funds have recently bought and sold shares of the stock. Summit Securities Group LLC bought a new position in Altus Power during the second quarter worth about $39,000. Iridian Asset Management LLC CT bought a new position in shares of Altus Power during the third quarter worth approximately $40,000. HighTower Advisors LLC bought a new stake in shares of Altus Power in the third quarter valued at approximately $41,000. Vaughan David Investments LLC IL acquired a new stake in Altus Power during the second quarter worth approximately $55,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Altus Power during the 2nd quarter worth $68,000. 46.55% of the stock is currently owned by institutional investors and hedge funds.

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.