Altus Power (NYSE:AMPS) Sees Unusually-High Trading Volume – Still a Buy?

Altus Power, Inc. (NYSE:AMPS) shares saw an uptick in trading volume on Wednesday . 5,130,262 shares were traded during trading, an increase of 205% from the previous session’s volume of 1,680,100 shares.The stock last traded at $4.98 and had previously closed at $4.96.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AMPS shares. Seaport Res Ptn lowered shares of Altus Power from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. Roth Capital downgraded Altus Power from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. B. Riley lowered Altus Power from a “buy” rating to a “neutral” rating and cut their target price for the company from $6.00 to $5.00 in a research report on Friday, February 7th. UBS Group downgraded shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 price target for the company. in a research report on Monday, February 10th. Finally, Roth Mkm reiterated a “neutral” rating and set a $5.00 price objective on shares of Altus Power in a research note on Friday, March 21st. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $5.13.

Altus Power Stock Performance

The company has a market capitalization of $799.70 million, a price-to-earnings ratio of 22.66 and a beta of 0.94. The stock has a 50 day simple moving average of $4.83 and a 200 day simple moving average of $4.10. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10.

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

Insider Buying and Selling at Altus Power

In other 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 completion of the transaction, the insider now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Gregg J. Felton sold 71,161 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total value of $349,400.51. Following the transaction, the chief executive officer now directly owns 4,023,696 shares in the company, valued at $19,756,347.36. This trade represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,146 shares of company stock valued at $437,707 in the last ninety days. Company insiders own 24.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Magnus Financial Group LLC bought a new position in Altus Power during the 4th quarter valued at $333,000. Barclays PLC raised its position in Altus Power by 312.8% in the third quarter. Barclays PLC now owns 115,987 shares of the company’s stock worth $369,000 after acquiring an additional 87,886 shares in the last quarter. Ballentine Partners LLC acquired a new stake in Altus Power in the 4th quarter valued at about $112,000. Bank of New York Mellon Corp boosted its position in shares of Altus Power by 48.1% during 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 purchasing an additional 86,797 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Altus Power in the 3rd quarter worth approximately $425,000. 46.55% of the stock is currently owned by institutional investors.

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.