Altus Power (NYSE:AMPS) Price Target Cut to $7.00

Altus Power (NYSE:AMPS) had its price target decreased by analysts at B. Riley from $10.00 to $7.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley’s price target would suggest a potential upside of 83.25% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Roth Mkm cut their price objective on Altus Power from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, March 15th. Morgan Stanley reaffirmed an “overweight” rating and set a $9.00 target price on shares of Altus Power in a report on Thursday, April 11th. Finally, Maxim Group started coverage on Altus Power in a report on Wednesday, April 10th. They set a “buy” rating and a $7.00 target price on the stock. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Altus Power presently has a consensus rating of “Buy” and an average target price of $8.25.

Altus Power Trading Up 5.5 %

NYSE AMPS opened at $3.82 on Monday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 2.33. Altus Power has a twelve month low of $3.57 and a twelve month high of $7.28. The company has a market cap of $607.69 million, a price-to-earnings ratio of -54.56 and a beta of 0.88. The business’s fifty day moving average is $5.42 and its 200 day moving average is $5.57.

Altus Power (NYSE:AMPS) last released its quarterly earnings data on Thursday, March 14th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). Altus Power had a negative net margin of 6.03% and a negative return on equity of 0.30%. The firm had revenue of $34.19 million for the quarter, compared to analyst estimates of $42.85 million. As a group, sell-side analysts expect that Altus Power will post -0.1 EPS for the current fiscal year.

Insider Transactions at Altus Power

In related news, insider Anthony Savino sold 34,725 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $7.02, for a total value of $243,769.50. Following the completion of the sale, the insider now directly owns 3,907,536 shares of the company’s stock, valued at approximately $27,430,902.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Altus Power news, insider Anthony Savino sold 34,725 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $7.02, for a total transaction of $243,769.50. Following the completion of the sale, the insider now directly owns 3,907,536 shares of the company’s stock, valued at approximately $27,430,902.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Dustin Weber sold 4,350 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $7.15, for a total value of $31,102.50. Following the sale, the chief financial officer now directly owns 1,884,926 shares of the company’s stock, valued at $13,477,220.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,673 shares of company stock valued at $530,948. Corporate insiders own 24.30% of the company’s stock.

Hedge Funds Weigh In On Altus Power

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bouvel Investment Partners LLC boosted its stake in shares of Altus Power by 2.8% in the 1st quarter. Bouvel Investment Partners LLC now owns 305,673 shares of the company’s stock worth $1,461,000 after buying an additional 8,295 shares during the last quarter. Triad Investment Management lifted its stake in Altus Power by 48.2% in the first quarter. Triad Investment Management now owns 58,023 shares of the company’s stock valued at $277,000 after purchasing an additional 18,879 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Altus Power by 805.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,193 shares of the company’s stock valued at $76,000 after purchasing an additional 9,957 shares during the last quarter. Olympiad Research LP lifted its stake in Altus Power by 8.2% in the fourth quarter. Olympiad Research LP now owns 62,704 shares of the company’s stock valued at $428,000 after purchasing an additional 4,726 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. lifted its stake in Altus Power by 1.0% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 310,000 shares of the company’s stock valued at $2,117,000 after purchasing an additional 3,000 shares during the last quarter. Hedge funds and other institutional investors own 46.55% of the company’s stock.

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.