Analysts Set Altus Power, Inc. (NYSE:AMPS) Target Price at $5.06

Altus Power, Inc. (NYSE:AMPS) has earned an average rating of “Hold” from the nine analysts that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $5.06.

A number of research firms recently weighed in on AMPS. Seaport Res Ptn lowered shares of Altus Power from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. B. Riley downgraded shares of Altus Power from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $6.00 to $5.00 in a research note on Friday, February 7th. JPMorgan Chase & Co. raised shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a report on Thursday, February 6th. Finally, UBS Group lowered Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 target price for the company. in a report on Monday, February 10th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Encompass Capital Advisors LLC boosted its position in Altus Power by 20.0% in the fourth quarter. Encompass Capital Advisors LLC now owns 8,027,318 shares of the company’s stock valued at $32,671,000 after buying an additional 1,336,044 shares during the last quarter. State Street Corp raised its stake in Altus Power by 0.6% in the 3rd quarter. State Street Corp now owns 3,682,864 shares of the company’s stock valued at $11,712,000 after purchasing an additional 21,312 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Altus Power by 7.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,648,599 shares of the company’s stock worth $14,850,000 after purchasing an additional 263,393 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Altus Power by 1.4% in the fourth quarter. Legal & General Group Plc now owns 1,905,722 shares of the company’s stock valued at $7,756,000 after purchasing an additional 26,760 shares during the period. Finally, Geode Capital Management LLC raised its position in Altus Power by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,564,740 shares of the company’s stock valued at $6,370,000 after purchasing an additional 10,450 shares during the period. 46.55% of the stock is owned by institutional investors and hedge funds.

Altus Power Trading Down 0.5 %

Shares of NYSE AMPS opened at $4.91 on Friday. Altus Power has a twelve month low of $2.71 and a twelve month high of $7.01. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10. The business has a fifty day simple moving average of $4.17 and a two-hundred day simple moving average of $3.69. The firm has a market cap of $788.72 million, a PE ratio of 22.30 and a beta of 1.05.

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.