JPMorgan Chase & Co. Downgrades Altus Power (NYSE:AMPS) to Underweight

Altus Power (NYSE:AMPS) was downgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a report issued on Thursday, MarketBeat Ratings reports.

Other research analysts also recently issued reports about the company. Morgan Stanley downgraded Altus Power from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $8.00 to $4.00 in a report on Wednesday, August 21st. Citigroup cut their target price on Altus Power from $7.00 to $5.50 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Finally, Roth Mkm restated a “buy” rating and issued a $4.50 price target on shares of Altus Power in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $5.21.

Altus Power Trading Up 1.9 %

Shares of NYSE AMPS opened at $3.80 on Thursday. Altus Power has a twelve month low of $2.71 and a twelve month high of $7.28. The firm has a market cap of $611.04 million, a PE ratio of 17.27 and a beta of 1.04. The business has a fifty day simple moving average of $3.66 and a two-hundred day simple moving average of $3.69. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Summit Securities Group LLC acquired a new position in shares of Altus Power in the 2nd quarter valued at $39,000. Iridian Asset Management LLC CT purchased a new stake in Altus Power during the 3rd quarter valued at about $40,000. HighTower Advisors LLC acquired a new position in shares of Altus Power in the third quarter valued at about $41,000. Vaughan David Investments LLC IL purchased a new position in shares of Altus Power in the second quarter worth about $55,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Altus Power during the second quarter worth about $68,000. Hedge funds and other institutional investors own 46.55% of the company’s stock.

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.