Altus Power, Inc. (NYSE:AMPS) Given Average Recommendation of “Buy” by Brokerages

Shares of Altus Power, Inc. (NYSE:AMPS) have earned a consensus recommendation of “Buy” from the nine research firms that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $6.00.

A number of research analysts have weighed in on AMPS shares. UBS Group cut their price target on shares of Altus Power from $5.50 to $5.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. B. Riley raised shares of Altus Power to a “strong-buy” rating in a research note on Tuesday, June 25th. Morgan Stanley downgraded Altus Power from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $8.00 to $4.00 in a research note on Wednesday, August 21st. Roth Mkm decreased their price objective on Altus Power from $5.00 to $4.50 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Seaport Res Ptn upgraded Altus Power to a “strong-buy” rating in a research note on Monday, June 3rd.

Altus Power Price Performance

Shares of AMPS stock opened at $3.27 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 2.18. Altus Power has a 12-month low of $2.80 and a 12-month high of $7.28. The firm has a fifty day moving average of $3.47 and a 200-day moving average of $4.03. The firm has a market capitalization of $525.40 million, a price-to-earnings ratio of -65.40 and a beta of 0.96.

Altus Power (NYSE:AMPS) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.13. Altus Power had a return on equity of 2.52% and a net margin of 13.55%. The company had revenue of $52.46 million during the quarter, compared to the consensus estimate of $57.61 million. On average, equities research analysts forecast that Altus Power will post 0.08 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AMPS. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Altus Power by 14.8% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 297,713 shares of the company’s stock valued at $1,167,000 after buying an additional 38,272 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Altus Power in the second quarter valued at $68,000. Long Focus Capital Management LLC grew its position in shares of Altus Power by 427.6% in the 2nd quarter. Long Focus Capital Management LLC now owns 549,081 shares of the company’s stock valued at $2,152,000 after acquiring an additional 445,000 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Altus Power by 24.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,771 shares of the company’s stock worth $125,000 after purchasing an additional 6,209 shares during the last quarter. Finally, Encompass Capital Advisors LLC raised its holdings in shares of Altus Power by 1.2% in the 2nd quarter. Encompass Capital Advisors LLC now owns 4,628,613 shares of the company’s stock valued at $18,144,000 after purchasing an additional 53,031 shares during the period. 46.55% of the stock is currently owned by institutional investors.

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.