Altus Power (NYSE:AMPS) Receives Buy Rating from Roth Mkm

Roth Mkm restated their buy rating on shares of Altus Power (NYSE:AMPS) in a research report released on Tuesday morning, Benzinga reports. The firm currently has a $7.00 price objective on the stock.

Several other analysts also recently commented on AMPS. B. Riley cut their price objective on shares of Altus Power from $10.00 to $7.00 and set a buy rating on the stock in a research report on Monday, April 22nd. Maxim Group began coverage on shares of Altus Power in a report on Wednesday, April 10th. They set a buy rating and a $7.00 price target on the stock. Finally, Morgan Stanley restated an overweight rating and issued a $9.00 price objective on shares of Altus Power in a report on Thursday, April 11th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of Buy and a consensus price target of $8.25.

Altus Power Stock Performance

Shares of AMPS opened at $3.68 on Tuesday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 2.33. The stock has a market cap of $584.62 million, a P/E ratio of -52.49 and a beta of 0.88. The business’s 50 day moving average price is $5.14 and its 200-day moving average price is $5.53. Altus Power has a 52 week low of $3.40 and a 52 week high of $7.28.

Altus Power (NYSE:AMPS) last released its earnings results on Thursday, March 14th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.02). Altus Power had a negative return on equity of 0.30% and a negative net margin of 6.03%. The company had revenue of $34.19 million during the quarter, compared to the consensus estimate of $42.85 million. Equities research analysts anticipate that Altus Power will post -0.11 earnings per share for the current fiscal year.

Insider Activity at Altus Power

In other news, CEO Lars Norell sold 40,000 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $5.58, for a total transaction of $223,200.00. Following the transaction, the chief executive officer now directly owns 21,654,907 shares of the company’s stock, valued at approximately $120,834,381.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Anthony Savino sold 34,725 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $7.02, for a total value of $243,769.50. Following the transaction, the insider now owns 3,907,536 shares of the company’s stock, valued at $27,430,902.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Lars Norell sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $5.58, for a total transaction of $223,200.00. Following the sale, the chief executive officer now directly owns 21,654,907 shares of the company’s stock, valued at $120,834,381.06. The disclosure for this sale can be found here. Insiders have sold a total of 83,673 shares of company stock worth $530,948 over the last quarter. Company insiders own 24.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC bought a new position in Altus Power in the 3rd quarter worth $140,000. Bank of New York Mellon Corp raised its stake in shares of Altus Power by 2.5% in the third quarter. Bank of New York Mellon Corp now owns 202,360 shares of the company’s stock worth $1,062,000 after buying an additional 4,864 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Altus Power by 7.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,933 shares of the company’s stock valued at $267,000 after buying an additional 3,571 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Altus Power by 196.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 13,319 shares of the company’s stock valued at $70,000 after buying an additional 8,826 shares in the last quarter. Finally, CHICAGO TRUST Co NA bought a new position in shares of Altus Power during the 3rd quarter valued at approximately $127,000. 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.