Altus Power, Inc. (NYSE:AMPS) Given Average Rating of “Hold” by Analysts

Shares of Altus Power, Inc. (NYSE:AMPS) have been given an average rating of “Hold” by the nine brokerages that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $5.06.

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

Altus Power Price Performance

Shares of AMPS opened at $4.96 on Tuesday. The firm has a market cap of $796.74 million, a price-to-earnings ratio of 22.52 and a beta of 0.98. The stock has a 50 day moving average of $4.46 and a 200-day moving average of $3.90. The company has a current ratio of 0.60, a quick 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 issued its earnings results on Monday, March 17th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.29). Altus Power had a return on equity of 4.79% and a net margin of 19.18%. As a group, analysts forecast that Altus Power will post 0.14 EPS for the current year.

Insider Activity

In related news, CFO Dustin Weber sold 9,162 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $4.91, for a total value of $44,985.42. Following the completion of the sale, the chief financial officer now directly owns 2,002,611 shares of the company’s stock, valued at approximately $9,832,820.01. This represents a 0.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anthony Savino sold 8,823 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $4.91, for a total value of $43,320.93. Following the completion of the sale, the insider now directly owns 4,088,231 shares of the company’s stock, valued at approximately $20,073,214.21. This represents a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,146 shares of company stock valued at $437,707 over the last three months. Insiders own 24.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Altus Power by 27.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 385,699 shares of the company’s stock worth $1,570,000 after purchasing an additional 83,911 shares during the last quarter. Squarepoint Ops LLC increased its position in Altus Power by 51.3% in the 4th quarter. Squarepoint Ops LLC now owns 107,859 shares of the company’s stock worth $439,000 after purchasing an additional 36,550 shares during the last quarter. ProShare Advisors LLC increased its position in Altus Power by 11.5% in the 4th quarter. ProShare Advisors LLC now owns 49,869 shares of the company’s stock worth $203,000 after purchasing an additional 5,143 shares during the last quarter. Millennium Management LLC increased its position in Altus Power by 148.3% in the 4th quarter. Millennium Management LLC now owns 652,278 shares of the company’s stock worth $2,655,000 after purchasing an additional 389,605 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Altus Power by 13.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,121 shares of the company’s stock valued at $249,000 after acquiring an additional 7,428 shares during the last quarter. 46.55% of the stock is owned by institutional investors and hedge funds.

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.