Altus Power (NYSE:AMPS) Downgraded to “Neutral” Rating by UBS Group

UBS Group cut shares of Altus Power (NYSE:AMPS) from a buy rating to a neutral rating in a report released on Monday morning, Marketbeat Ratings reports. They currently have $5.00 target price on the stock.

Several other equities analysts also recently commented on AMPS. JPMorgan Chase & Co. raised Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a research report on Thursday, February 6th. Roth Mkm reiterated a “buy” rating and set a $4.50 price objective on shares of Altus Power in a research report on Wednesday, October 16th. Citigroup reduced their target price on shares of Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. B. Riley cut shares of Altus Power from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $6.00 to $5.00 in a research note on Friday. Finally, Seaport Res Ptn cut shares of Altus Power from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $5.06.

Altus Power Stock Performance

Shares of AMPS stock opened at $4.87 on Monday. Altus Power has a 52 week low of $2.71 and a 52 week high of $7.28. The company has a market capitalization of $782.29 million, a price-to-earnings ratio of 22.11 and a beta of 1.05. The company has a 50-day simple moving average of $3.99 and a 200 day simple moving average of $3.63. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.60 and a current ratio of 0.60.

Institutional Trading of Altus Power

Large investors have recently made changes to their positions in the company. ANTIPODES PARTNERS Ltd lifted its stake in Altus Power by 59.3% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 99,181 shares of the company’s stock worth $404,000 after purchasing an additional 36,911 shares during the last quarter. Citizens Financial Group Inc. RI bought a new stake in shares of Altus Power during the 4th quarter worth $41,000. Levin Capital Strategies L.P. acquired a new stake in Altus Power in the fourth quarter valued at about $122,000. US Bancorp DE grew its position in Altus Power by 11,326.2% in the fourth quarter. US Bancorp DE now owns 9,598 shares of the company’s stock valued at $39,000 after acquiring an additional 9,514 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Altus Power by 48.1% during the fourth quarter. Bank of New York Mellon Corp now owns 267,220 shares of the company’s stock worth $1,088,000 after acquiring an additional 86,797 shares in the last quarter. Institutional investors and hedge funds 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.