Altus Power, Inc. (NYSE:AMPS) Receives $5.21 Consensus Target Price from Brokerages

Shares of Altus Power, Inc. (NYSE:AMPS) have received an average recommendation of “Buy” from the nine ratings firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $5.21.

Several research analysts have issued reports on AMPS shares. Roth Mkm restated a “buy” rating and set a $4.50 target price on shares of Altus Power in a research report on Wednesday, October 16th. Citigroup dropped their price objective on Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Finally, Morgan Stanley downgraded Altus Power from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $8.00 to $4.00 in a research report on Wednesday, August 21st.

Altus Power Price Performance

Altus Power stock opened at $3.99 on Friday. Altus Power has a 12-month low of $2.71 and a 12-month high of $7.28. 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 50-day moving average price of $3.62 and a 200-day moving average price of $3.68. The firm has a market capitalization of $641.58 million, a PE ratio of 18.14 and a beta of 1.04.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AMPS. Dimensional Fund Advisors LP boosted its stake in shares of Altus Power by 37.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,974,269 shares of the company’s stock valued at $11,662,000 after purchasing an additional 807,071 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in Altus Power by 112.1% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,411,042 shares of the company’s stock valued at $5,531,000 after acquiring an additional 745,810 shares in the last quarter. Long Focus Capital Management LLC increased its holdings in shares of Altus Power by 427.6% in the 2nd quarter. Long Focus Capital Management LLC now owns 549,081 shares of the company’s stock valued at $2,152,000 after acquiring an additional 445,000 shares during the period. Jupiter Asset Management Ltd. bought a new stake in Altus Power during the second quarter valued at about $1,085,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in Altus Power by 78.8% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 437,286 shares of the company’s stock valued at $1,714,000 after purchasing an additional 192,687 shares during the last quarter. Hedge funds and other institutional investors own 46.55% of the company’s stock.

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.