Altus Power, Inc. (NYSE:AMPS) Given Consensus Rating of “Hold” by Brokerages

Altus Power, Inc. (NYSE:AMPS) has earned a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $4.86.

A number of analysts have commented on AMPS shares. JPMorgan Chase & Co. upgraded Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a research report on Thursday, February 6th. UBS Group downgraded Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 target price on the stock. in a research report on Monday, February 10th. Roth Mkm reiterated a “neutral” rating and set a $5.00 target price on shares of Altus Power in a research report on Friday, March 21st. Seaport Res Ptn downgraded Altus Power from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Roth Capital downgraded Altus Power from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 20th.

Altus Power Trading Down 0.1%

AMPS opened at $5.00 on Friday. The firm has a market cap of $801.30 million, a price-to-earnings ratio of 22.70 and a beta of 0.94. Altus Power has a 52 week low of $2.71 and a 52 week high of $5.00. The business’s 50 day moving average is $4.99 and its two-hundred day moving average is $4.57. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10.

Altus Power (NYSE:AMPS) last released its earnings results on Monday, March 17th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $46.64 million. On average, research analysts predict that Altus Power will post 0.14 EPS for the current year.

Insider Transactions at Altus Power

In other news, insider Anthony Savino sold 29,748 shares of Altus Power stock in a transaction on Monday, April 7th. The stock was sold at an average price of $4.96, for a total value of $147,550.08. Following the completion of the sale, the insider now directly owns 4,030,459 shares of the company’s stock, valued at approximately $19,991,076.64. This trade represents a 0.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gregg J. Felton sold 87,048 shares of the firm’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $4.96, for a total value of $431,758.08. Following the completion of the transaction, the chief executive officer now owns 3,852,712 shares in the company, valued at $19,109,451.52. This represents a 2.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 132,276 shares of company stock worth $656,089. 24.30% of the stock is owned by corporate insiders.

Institutional Trading of Altus Power

Several hedge funds and other institutional investors have recently modified their holdings of AMPS. SG Americas Securities LLC boosted its stake in shares of Altus Power by 19.6% in the fourth quarter. SG Americas Securities LLC now owns 36,058 shares of the company’s stock valued at $147,000 after buying an additional 5,912 shares during the period. abrdn plc lifted its stake in shares of Altus Power by 7.3% in the 4th quarter. abrdn plc now owns 1,550,200 shares of the company’s stock valued at $6,418,000 after acquiring an additional 105,800 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Altus Power by 48.1% in the 4th quarter. Bank of New York Mellon Corp now owns 267,220 shares of the company’s stock valued at $1,088,000 after acquiring an additional 86,797 shares during the last quarter. US Bancorp DE raised its position in Altus Power by 11,326.2% during the 4th quarter. US Bancorp DE now owns 9,598 shares of the company’s stock worth $39,000 after purchasing an additional 9,514 shares during the last quarter. Finally, Levin Capital Strategies L.P. bought a new position in Altus Power during the 4th quarter worth $122,000. Institutional investors and hedge funds 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.