Altus Power’s (AMPS) “Neutral” Rating Reiterated at Roth Mkm

Roth Mkm reaffirmed their neutral rating on shares of Altus Power (NYSE:AMPS) in a research report sent to investors on Friday morning,Benzinga reports. They currently have a $5.00 target price on the stock.

Other analysts also recently issued research reports about the stock. UBS Group downgraded shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 target price for the company. in a research report on Monday, February 10th. JPMorgan Chase & Co. upgraded shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a research report on Thursday, February 6th. B. Riley lowered shares of Altus Power from a “buy” rating to a “neutral” rating and dropped their target price for the company from $6.00 to $5.00 in a report on Friday, February 7th. Finally, Seaport Res Ptn downgraded Altus Power from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.13.

Altus Power Price Performance

Shares of NYSE:AMPS opened at $4.95 on Friday. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.60 and a current ratio of 0.60. Altus Power has a 52 week low of $2.71 and a 52 week high of $5.50. The firm has a market cap of $795.14 million, a PE ratio of 22.48 and a beta of 0.98. The firm’s fifty day moving average is $4.52 and its 200-day moving average is $3.94.

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

Insider Transactions at Altus Power

In related news, insider Anthony Savino sold 8,823 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total value of $43,320.93. Following the transaction, the insider now directly owns 4,088,231 shares in the company, valued at $20,073,214.21. This trade represents a 0.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gregg J. Felton sold 71,161 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total transaction of $349,400.51. Following the sale, the chief executive officer now owns 4,023,696 shares of the company’s stock, valued at $19,756,347.36. This trade represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,146 shares of company stock valued at $437,707 in the last 90 days. 24.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Altus Power

A number of institutional investors and hedge funds have recently made changes to their positions in AMPS. Encompass Capital Advisors LLC raised its position in Altus Power by 20.0% in the 4th quarter. Encompass Capital Advisors LLC now owns 8,027,318 shares of the company’s stock valued at $32,671,000 after buying an additional 1,336,044 shares during the last quarter. State Street Corp raised its holdings in shares of Altus Power by 0.6% in the third quarter. State Street Corp now owns 3,682,864 shares of the company’s stock valued at $11,712,000 after purchasing an additional 21,312 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Altus Power by 7.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,648,599 shares of the company’s stock valued at $14,850,000 after purchasing an additional 263,393 shares in the last quarter. Legal & General Group Plc boosted its holdings in Altus Power by 1.4% during the fourth quarter. Legal & General Group Plc now owns 1,905,722 shares of the company’s stock worth $7,756,000 after purchasing an additional 26,760 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Altus Power by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 1,564,740 shares of the company’s stock worth $6,370,000 after purchasing an additional 10,450 shares during the last quarter. 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.