Altus Power (NYSE:AMPS) Upgraded at B. Riley

Altus Power (NYSE:AMPS) was upgraded by equities research analysts at B. Riley to a “strong-buy” rating in a report released on Tuesday, Zacks.com reports.

AMPS has been the subject of a number of other research reports. Roth Mkm reduced their target price on Altus Power from $7.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, May 16th. Evercore ISI reduced their target price on Altus Power from $9.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday, May 15th. Maxim Group started coverage on Altus Power in a report on Wednesday, April 10th. They issued a “buy” rating and a $7.00 target price for the company. Morgan Stanley reissued an “overweight” rating and issued a $9.00 target price on shares of Altus Power in a report on Thursday, April 11th. Finally, Seaport Res Ptn raised Altus Power to a “strong-buy” rating in a report on Monday, June 3rd. One analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Altus Power presently has an average rating of “Buy” and an average price target of $7.50.

Altus Power Stock Performance

NYSE:AMPS opened at $4.02 on Tuesday. The firm’s fifty day moving average price is $4.08 and its 200 day moving average price is $5.22. Altus Power has a 1-year low of $3.40 and a 1-year high of $7.28. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.48 and a quick ratio of 1.48. The firm has a market cap of $645.89 million, a price-to-earnings ratio of -80.38 and a beta of 1.01.

Altus Power (NYSE:AMPS) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.08) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.08). Altus Power had a negative net margin of 4.48% and a negative return on equity of 1.37%. The firm had revenue of $40.66 million for the quarter, compared to analyst estimates of $39.13 million. During the same period last year, the firm posted ($0.05) EPS. On average, sell-side analysts expect that Altus Power will post -0.07 EPS for the current year.

Insider Transactions at Altus Power

In other news, CEO Gregg J. Felton purchased 34,139 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was acquired at an average price of $3.99 per share, with a total value of $136,214.61. Following the purchase, the chief executive officer now directly owns 12,044,603 shares of the company’s stock, valued at approximately $48,057,965.97. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Gregg J. Felton acquired 34,139 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was purchased at an average price of $3.99 per share, for a total transaction of $136,214.61. Following the transaction, the chief executive officer now owns 12,044,603 shares in the company, valued at approximately $48,057,965.97. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregg J. Felton acquired 82,576 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were bought at an average price of $3.90 per share, with a total value of $322,046.40. Following the transaction, the chief executive officer now owns 11,977,179 shares in the company, valued at approximately $46,710,998.10. The disclosure for this purchase can be found here. Corporate insiders own 24.30% of the company’s stock.

Institutional Trading of Altus Power

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Spinnaker Trust purchased a new stake in Altus Power during the 4th quarter worth about $69,000. Victory Capital Management Inc. purchased a new stake in Altus Power in the 4th quarter valued at about $72,000. Tower Research Capital LLC TRC grew its holdings in Altus Power by 805.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,193 shares of the company’s stock valued at $76,000 after buying an additional 9,957 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in Altus Power in the 1st quarter valued at about $88,000. Finally, AXQ Capital LP grew its holdings in Altus Power by 25.5% in the 3rd quarter. AXQ Capital LP now owns 21,078 shares of the company’s stock valued at $111,000 after buying an additional 4,278 shares during the period. Hedge funds and other institutional investors 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.