Altus Power (NYSE:AMPS) Shares Up 3.5% – Still a Buy?

Altus Power, Inc. (NYSE:AMPS)’s stock price was up 3.5% during trading on Thursday . The stock traded as high as $3.44 and last traded at $3.43. Approximately 76,773 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 1,032,086 shares. The stock had previously closed at $3.31.

Analyst Ratings Changes

AMPS has been the subject of a number of research reports. Roth Mkm restated a “buy” rating and set a $4.50 target price on shares of Altus Power in a research note on Wednesday, October 16th. Citigroup cut their price objective on shares of Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. cut Altus Power from a “neutral” rating to an “underweight” rating in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Altus Power currently has an average rating of “Moderate Buy” and a consensus target price of $5.21.

Altus Power Trading Up 1.5 %

The company has a debt-to-equity ratio of 2.10, a current ratio of 0.60 and a quick ratio of 0.60. The company has a market capitalization of $602.20 million, a price-to-earnings ratio of 17.02 and a beta of 1.05. The business’s 50-day moving average price is $3.99 and its two-hundred day moving average price is $3.65.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Iridian Asset Management LLC CT bought a new stake in Altus Power during the third quarter worth $40,000. HighTower Advisors LLC acquired a new position in shares of Altus Power during the 3rd quarter worth $41,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Altus Power during the 2nd quarter worth $68,000. Intech Investment Management LLC bought a new stake in shares of Altus Power during the 3rd quarter worth $86,000. Finally, Ballentine Partners LLC acquired a new stake in Altus Power in the fourth quarter valued at about $112,000. 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.