Altus Power (NYSE:AMPS) Shares Down 4.9% – Should You Sell?

Altus Power, Inc. (NYSE:AMPS) shares dropped 4.9% during mid-day trading on Monday . The company traded as low as $4.09 and last traded at $4.11. Approximately 111,268 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 1,070,788 shares. The stock had previously closed at $4.32.

Analyst Upgrades and Downgrades

Several research firms have commented on AMPS. Maxim Group dropped their target price on Altus Power from $5.50 to $4.50 and set a “buy” rating for the company in a research report on Monday, August 12th. Morgan Stanley downgraded shares of 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 report on Wednesday, August 21st. UBS Group decreased their price target on shares of Altus Power from $5.50 to $5.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Roth Mkm reiterated a “buy” rating and set a $4.50 price target on shares of Altus Power in a report on Wednesday, October 16th. Finally, Citigroup reduced their price objective on shares of Altus Power from $7.00 to $5.50 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Altus Power currently has a consensus rating of “Buy” and a consensus target price of $5.21.

Altus Power Stock Down 5.3 %

The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10. The stock’s 50-day simple moving average is $3.52 and its 200 day simple moving average is $3.68. The firm has a market cap of $657.66 million, a P/E ratio of 19.86 and a beta of 0.94.

Institutional Investors Weigh In On Altus Power

A number of large investors have recently bought and sold shares of the stock. Franklin Resources Inc. boosted its position in shares of Altus Power by 47.2% during the 3rd quarter. Franklin Resources Inc. now owns 51,035 shares of the company’s stock worth $161,000 after purchasing an additional 16,370 shares in the last quarter. Barclays PLC boosted its holdings 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. XTX Topco Ltd acquired a new stake in Altus Power in the third quarter valued at approximately $425,000. State Street Corp increased its holdings in shares of Altus Power by 0.6% during the third quarter. State Street Corp now owns 3,682,864 shares of the company’s stock valued at $11,712,000 after acquiring an additional 21,312 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of Altus Power by 9.0% during the third quarter. Janus Henderson Group PLC now owns 44,792 shares of the company’s stock worth $142,000 after purchasing an additional 3,709 shares during the period. 46.55% of the stock is currently owned by institutional investors and hedge funds.

About Altus Power

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.