Altus Power (NYSE:AMPS) Downgraded to Hold Rating by Seaport Res Ptn

Seaport Res Ptn lowered shares of Altus Power (NYSE:AMPS) from a strong-buy rating to a hold rating in a research note issued to investors on Thursday morning,Zacks.com reports.

A number of other analysts also recently issued reports on the company. Roth Mkm reaffirmed a “buy” rating and issued a $4.50 target price on shares of Altus Power in a research report on Wednesday, October 16th. JPMorgan Chase & Co. raised Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a report on Thursday. B. Riley cut shares of Altus Power from a “buy” rating to a “neutral” rating and cut their price target for the company from $6.00 to $5.00 in a research note on Friday. Finally, Citigroup dropped their target price on shares of Altus Power from $7.00 to $5.50 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Altus Power has an average rating of “Moderate Buy” and an average price target of $5.06.

Altus Power Stock Down 0.1 %

AMPS stock opened at $4.87 on Thursday. The business has a 50-day moving average of $3.98 and a 200-day moving average of $3.64. Altus Power has a fifty-two week low of $2.71 and a fifty-two week high of $7.28. The stock has a market capitalization of $782.29 million, a P/E 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.

Hedge Funds Weigh In On Altus Power

A number of hedge funds have recently bought and sold shares of the business. Citizens Financial Group Inc. RI acquired a new stake in shares of Altus Power in the fourth quarter valued at approximately $41,000. Levin Capital Strategies L.P. acquired a new position in Altus Power in the fourth quarter valued at about $122,000. US Bancorp DE lifted its position in Altus Power by 11,326.2% during the fourth quarter. US Bancorp DE now owns 9,598 shares of the company’s stock worth $39,000 after purchasing an additional 9,514 shares during the period. Bank of New York Mellon Corp grew its stake in Altus Power by 48.1% during the fourth quarter. Bank of New York Mellon Corp now owns 267,220 shares of the company’s stock worth $1,088,000 after buying an additional 86,797 shares in the last quarter. Finally, abrdn plc increased its holdings in Altus Power by 7.3% in the 4th quarter. abrdn plc now owns 1,550,200 shares of the company’s stock valued at $6,418,000 after buying an additional 105,800 shares during the period. 46.55% of the stock is 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.