Altus Power (NYSE:AMPS) Stock Price Up 4.6% – Should You Buy?

Altus Power, Inc. (NYSE:AMPS)’s stock price rose 4.6% on Thursday . The stock traded as high as $4.16 and last traded at $4.13. Approximately 394,371 shares traded hands during trading, a decline of 64% from the average daily volume of 1,082,404 shares. The stock had previously closed at $3.95.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. UBS Group cut their target price on Altus Power from $5.50 to $5.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Roth Mkm reiterated a “buy” rating and issued a $4.50 target price on shares of Altus Power in a research report on Wednesday, October 16th. Maxim Group dropped their target price on Altus Power from $5.50 to $4.50 and set a “buy” rating on the stock in a research report on Monday, August 12th. Morgan Stanley lowered Altus Power from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $8.00 to $4.00 in a research report on Wednesday, August 21st. Finally, Citigroup dropped their target price on Altus Power from $7.00 to $5.50 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $5.81.

Altus Power Stock Down 6.2 %

The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.91 and a current ratio of 0.60. The company has a market cap of $618.23 million, a price-to-earnings ratio of 17.48 and a beta of 0.94. The business has a 50-day simple moving average of $3.35 and a 200-day simple moving average of $3.70.

Institutional Investors Weigh In On Altus Power

Hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its position in shares of Altus Power by 7.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 44,257 shares of the company’s stock worth $212,000 after acquiring an additional 3,116 shares in the last quarter. Janus Henderson Group PLC grew its stake in Altus Power by 9.0% during the 3rd quarter. Janus Henderson Group PLC now owns 44,792 shares of the company’s stock worth $142,000 after buying an additional 3,709 shares during the last quarter. HTG Investment Advisors Inc. grew its stake in Altus Power by 8.6% during the 3rd quarter. HTG Investment Advisors Inc. now owns 65,148 shares of the company’s stock worth $207,000 after buying an additional 5,148 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Altus Power by 24.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,771 shares of the company’s stock worth $125,000 after buying an additional 6,209 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in Altus Power by 14.3% during the 2nd quarter. American Century Companies Inc. now owns 72,322 shares of the company’s stock worth $284,000 after buying an additional 9,062 shares during the last quarter. Institutional investors and hedge funds own 46.55% of the company’s stock.

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.