Altus Power, Inc. (NYSE:AMPS) Receives Consensus Recommendation of “Hold” from Brokerages

Altus Power, Inc. (NYSE:AMPS) has been assigned a consensus rating of “Hold” from the ten brokerages that are presently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $5.13.

AMPS has been the topic of several analyst reports. JPMorgan Chase & Co. raised shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a research report on Thursday, February 6th. Roth Mkm reaffirmed a “neutral” rating and issued a $5.00 target price on shares of Altus Power in a report on Friday, March 21st. Roth Capital cut shares of Altus Power from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. UBS Group cut shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 target price on the stock. in a report on Monday, February 10th. Finally, Seaport Res Ptn cut shares of Altus Power from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th.

Insider Activity

In related news, insider Anthony Savino sold 8,823 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $4.91, for a total value of $43,320.93. Following the sale, the insider now owns 4,088,231 shares in the company, valued at $20,073,214.21. This represents a 0.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gregg J. Felton sold 71,161 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $4.91, for a total transaction of $349,400.51. Following the completion of the sale, the chief executive officer now owns 4,023,696 shares in the company, valued at $19,756,347.36. This represents a 1.74% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 221,422 shares of company stock worth $1,093,796. Company insiders own 24.30% of the company’s stock.

Institutional Investors Weigh In On Altus Power

A number of institutional investors have recently added to or reduced their stakes in AMPS. Barclays PLC grew its position in shares of Altus Power by 312.8% during the 3rd quarter. Barclays PLC now owns 115,987 shares of the company’s stock valued at $369,000 after acquiring an additional 87,886 shares during the period. Avanza Fonder AB bought a new position in shares of Altus Power during the 4th quarter valued at approximately $213,000. Ballentine Partners LLC bought a new position in shares of Altus Power during the 4th quarter valued at approximately $112,000. Magnus Financial Group LLC bought a new position in shares of Altus Power during the 4th quarter valued at approximately $333,000. Finally, SG Americas Securities LLC grew its position in shares of Altus Power by 19.6% during the 4th quarter. SG Americas Securities LLC now owns 36,058 shares of the company’s stock valued at $147,000 after acquiring an additional 5,912 shares during the period. 46.55% of the stock is owned by institutional investors.

Altus Power Price Performance

Shares of AMPS stock opened at $5.00 on Wednesday. Altus Power has a 12-month low of $2.71 and a 12-month high of $5.00. The firm has a market capitalization of $801.30 million, a price-to-earnings ratio of 22.70 and a beta of 0.94. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10. The firm has a fifty day moving average of $4.97 and a 200-day moving average of $4.40.

Altus Power (NYSE:AMPS) last posted its quarterly earnings data on Monday, March 17th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.28). Altus Power had a net margin of 19.18% and a return on equity of 4.79%. The company had revenue of $44.47 million during the quarter, compared to the consensus estimate of $46.64 million. On average, equities research analysts forecast that Altus Power will post 0.14 earnings per share for the current year.

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.