Altus Power (NYSE:AMPS) Stock Rating Upgraded by JPMorgan Chase & Co.

Altus Power (NYSE:AMPS) was upgraded by equities researchers at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a note issued to investors on Thursday, MarketBeat reports. The brokerage currently has a $5.00 price objective on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 2.77% from the company’s current price.

A number of other equities research analysts also recently commented on the company. Citigroup cut their price objective on Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Roth Mkm reiterated a “buy” rating and issued a $4.50 target price on shares of Altus Power in a report on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Altus Power currently has an average rating of “Moderate Buy” and an average price target of $5.06.

Altus Power Stock Performance

AMPS opened at $4.87 on Thursday. 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 debt-to-equity ratio of 2.10, a current ratio of 0.60 and a quick ratio of 0.60. Altus Power has a 1-year low of $2.71 and a 1-year high of $7.28. The business has a 50 day moving average price of $3.98 and a two-hundred day moving average price of $3.64.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AMPS. XTX Topco Ltd bought a new stake in shares of Altus Power in the 3rd quarter valued at approximately $425,000. abrdn plc grew its stake in shares of Altus Power by 8.7% in the 3rd quarter. abrdn plc now owns 1,444,400 shares of the company’s stock valued at $4,593,000 after buying an additional 115,300 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Altus Power in the 3rd quarter valued at approximately $286,000. Barclays PLC grew its stake in shares of Altus Power by 312.8% in the 3rd quarter. Barclays PLC now owns 115,987 shares of the company’s stock valued at $369,000 after buying an additional 87,886 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Altus Power by 48.1% in the 4th quarter. Bank of New York Mellon Corp now owns 267,220 shares of the company’s stock valued at $1,088,000 after buying an additional 86,797 shares in the last quarter. Hedge funds and other 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.