Altus Power (NYSE:AMPS) PT Lowered to $5.50

Altus Power (NYSE:AMPS) had its price objective dropped by Citigroup from $7.00 to $5.50 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 60.58% from the stock’s current price.

AMPS has been the subject of several other research reports. Morgan Stanley lowered Altus Power from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $8.00 to $4.00 in a research note on Wednesday, August 21st. Roth Mkm reaffirmed a “buy” rating and issued a $4.50 price objective on shares of Altus Power in a research note on Wednesday, October 16th. B. Riley upgraded shares of Altus Power to a “strong-buy” rating in a research report on Tuesday, June 25th. Maxim Group cut their price target on shares of Altus Power from $5.50 to $4.50 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, UBS Group decreased their price objective on Altus Power from $5.50 to $5.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $5.94.

Altus Power Price Performance

Shares of NYSE:AMPS opened at $3.43 on Tuesday. Altus Power has a one year low of $2.71 and a one year high of $7.28. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $550.30 million, a price-to-earnings ratio of -68.50 and a beta of 0.96. The company’s fifty day moving average price is $3.18 and its 200-day moving average price is $3.76.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bouvel Investment Partners LLC boosted its holdings in Altus Power by 2.8% in the first quarter. Bouvel Investment Partners LLC now owns 305,673 shares of the company’s stock valued at $1,461,000 after acquiring an additional 8,295 shares in the last quarter. ANTIPODES PARTNERS Ltd boosted its stake in shares of Altus Power by 17.0% during the 1st quarter. ANTIPODES PARTNERS Ltd now owns 35,198 shares of the company’s stock valued at $168,000 after purchasing an additional 5,116 shares in the last quarter. Edmond DE Rothschild Holding S.A. increased its position in shares of Altus Power by 38.4% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 428,963 shares of the company’s stock valued at $2,050,000 after buying an additional 118,963 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Altus Power by 15.2% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 259,441 shares of the company’s stock worth $1,240,000 after buying an additional 34,244 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Altus Power by 7.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 44,257 shares of the company’s stock worth $212,000 after buying an additional 3,116 shares in the last quarter. Institutional investors 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.