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

Shares of Altus Power, Inc. (NYSE:AMPS) have been given a consensus rating of “Moderate Buy” by the nine analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $5.21.

AMPS has been the subject of several research reports. JPMorgan Chase & Co. downgraded shares of Altus Power from a “neutral” rating to an “underweight” rating in a research report on Thursday, December 12th. Roth Mkm reaffirmed a “buy” rating and set a $4.50 price objective on shares of Altus Power in a research note on Wednesday, October 16th. Finally, Citigroup dropped their target price on Altus Power from $7.00 to $5.50 and set a “buy” rating on the stock in a report on Tuesday, October 22nd.

Institutional Investors Weigh In On Altus Power

Institutional investors and hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. raised its holdings in Altus Power by 47.2% in the 3rd quarter. Franklin Resources Inc. now owns 51,035 shares of the company’s stock valued at $161,000 after acquiring an additional 16,370 shares during the last quarter. Barclays PLC boosted its stake in Altus Power by 312.8% in the 3rd quarter. Barclays PLC now owns 115,987 shares of the company’s stock worth $369,000 after buying an additional 87,886 shares during the last quarter. XTX Topco Ltd purchased a new stake in Altus Power in the 3rd quarter valued at about $425,000. State Street Corp increased its stake in shares of Altus Power by 0.6% during the 3rd quarter. State Street Corp now owns 3,682,864 shares of the company’s stock valued at $11,712,000 after acquiring an additional 21,312 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of Altus Power by 9.0% in the third quarter. Janus Henderson Group PLC now owns 44,792 shares of the company’s stock worth $142,000 after acquiring an additional 3,709 shares during the last quarter. Hedge funds and other institutional investors own 46.55% of the company’s stock.

Altus Power Stock Performance

NYSE:AMPS opened at $4.47 on Thursday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.10. Altus Power has a 12-month low of $2.71 and a 12-month high of $7.28. The stock has a 50-day moving average price of $3.87 and a 200 day moving average price of $3.66. The stock has a market capitalization of $718.76 million, a P/E ratio of 20.32 and a beta of 1.04.

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.