Altus Power (NYSE:AMPS) Trading Down 4.8%

Altus Power, Inc. (NYSE:AMPS) was down 4.8% during mid-day trading on Monday . The company traded as low as $3.34 and last traded at $3.34. Approximately 355,439 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 1,075,836 shares. The stock had previously closed at $3.51.

Analysts Set New Price Targets

A number of analysts recently issued reports on AMPS shares. Roth Mkm lowered their price target on Altus Power from $5.00 to $4.50 and set a “buy” rating for the company in a report on Friday, August 9th. Maxim Group lowered their price target on Altus Power from $5.50 to $4.50 and set a “buy” rating for the company in a report on Monday, August 12th. Seaport Res Ptn upgraded Altus Power to a “strong-buy” rating in a report on Monday, June 3rd. UBS Group lowered their target price on Altus Power from $5.50 to $5.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, B. Riley upgraded Altus Power to a “strong-buy” rating in a report on Tuesday, June 25th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $6.00.

Altus Power Stock Performance

The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 2.18. The firm has a 50-day moving average of $3.50 and a 200-day moving average of $4.05. The stock has a market capitalization of $528.61 million, a price-to-earnings ratio of -65.60 and a beta of 0.96.

Altus Power (NYSE:AMPS) last released its earnings results on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.13. Altus Power had a return on equity of 2.52% and a net margin of 13.55%. The firm had revenue of $52.46 million for the quarter, compared to the consensus estimate of $57.61 million. As a group, sell-side analysts predict that Altus Power, Inc. will post 0.08 earnings per share for the current year.

Institutional Investors Weigh In On Altus Power

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMPS. Swedbank AB acquired a new stake in Altus Power during the 1st quarter worth about $12,589,000. Dimensional Fund Advisors LP grew its position in Altus Power by 37.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,974,269 shares of the company’s stock worth $11,662,000 after purchasing an additional 807,071 shares during the period. Skandinaviska Enskilda Banken AB publ grew its position in Altus Power by 112.1% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,411,042 shares of the company’s stock worth $5,531,000 after purchasing an additional 745,810 shares during the period. Long Focus Capital Management LLC grew its position in Altus Power by 427.6% during the 2nd quarter. Long Focus Capital Management LLC now owns 549,081 shares of the company’s stock worth $2,152,000 after purchasing an additional 445,000 shares during the period. Finally, Jupiter Asset Management Ltd. acquired a new stake in Altus Power during the 2nd quarter worth about $1,085,000. 46.55% of the stock is owned by institutional investors and hedge funds.

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.