Altus Power (NYSE:AMPS) Cut to “Hold” at Roth Capital

Roth Capital lowered shares of Altus Power (NYSE:AMPS) from a strong-buy rating to a hold rating in a report issued on Thursday morning,Zacks.com reports.

Several other equities research analysts have also weighed in on the stock. B. Riley lowered 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, February 7th. Roth Mkm reiterated a “neutral” rating and set a $5.00 price target on shares of Altus Power in a research report on Friday. JPMorgan Chase & Co. raised Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a report on Thursday, February 6th. Seaport Res Ptn downgraded Altus Power from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, UBS Group cut Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 target price on the stock. in a research note on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $5.13.

Altus Power Trading Up 0.1 %

NYSE:AMPS opened at $4.95 on Thursday. The company has a market cap of $795.14 million, a PE ratio of 22.48 and a beta of 0.98. The business’s 50 day moving average is $4.52 and its two-hundred day moving average is $3.95. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10. Altus Power has a 52 week low of $2.71 and a 52 week high of $5.50.

Altus Power (NYSE:AMPS) last posted its quarterly earnings results on Monday, March 17th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.28). The firm had revenue of $44.47 million for the quarter, compared to analyst estimates of $46.64 million. Altus Power had a net margin of 19.18% and a return on equity of 4.79%. On average, analysts predict that Altus Power will post 0.14 EPS for the current year.

Insider Buying and Selling

In related news, CFO Dustin Weber sold 9,162 shares of Altus Power stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $4.91, for a total transaction of $44,985.42. Following the transaction, the chief financial officer now directly owns 2,002,611 shares of the company’s stock, valued at $9,832,820.01. The trade was a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregg J. Felton sold 71,161 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $4.91, for a total transaction of $349,400.51. Following the completion of the sale, the chief executive officer now owns 4,023,696 shares in the company, valued at approximately $19,756,347.36. This trade represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,146 shares of company stock valued at $437,707 over the last 90 days. 24.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Altus Power

Hedge funds have recently made changes to their positions in the business. GSA Capital Partners LLP bought a new stake in Altus Power during the third quarter worth approximately $286,000. Intech Investment Management LLC acquired a new stake in shares of Altus Power during the 3rd quarter valued at $86,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Altus Power by 4.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 312,205 shares of the company’s stock worth $993,000 after acquiring an additional 14,492 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Altus Power by 798.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 73,508 shares of the company’s stock worth $234,000 after acquiring an additional 65,327 shares during the last quarter. Finally, HighTower Advisors LLC acquired a new position in shares of Altus Power in the 3rd quarter worth $41,000. Institutional investors and hedge funds 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.