Altus Power, Inc. (NYSE:AMPS) Receives $5.21 Consensus Target Price from Brokerages

Altus Power, Inc. (NYSE:AMPS) has earned an average rating of “Buy” from the nine brokerages that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $5.21.

AMPS has been the topic of several research analyst reports. Citigroup dropped their target price on Altus Power from $7.00 to $5.50 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Roth Mkm restated a “buy” rating and set a $4.50 price objective on shares of Altus Power in a report on Wednesday, October 16th. Finally, Morgan Stanley downgraded shares of Altus Power from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $8.00 to $4.00 in a report on Wednesday, August 21st.

Institutional Trading of Altus Power

A number of hedge funds and other institutional investors have recently made changes to their positions in AMPS. Summit Securities Group LLC acquired a new stake in Altus Power during the second quarter worth about $39,000. Iridian Asset Management LLC CT purchased a new stake in Altus Power in the 3rd quarter worth approximately $40,000. HighTower Advisors LLC acquired a new stake in shares of Altus Power during the 3rd quarter worth approximately $41,000. Vaughan David Investments LLC IL purchased a new position in shares of Altus Power during the 2nd quarter valued at approximately $55,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Altus Power in the 2nd quarter valued at $68,000. Institutional investors and hedge funds own 46.55% of the company’s stock.

Altus Power Price Performance

NYSE AMPS opened at $3.99 on Friday. The firm’s fifty day simple moving average is $3.62 and its two-hundred day simple moving average is $3.68. The firm has a market capitalization of $641.58 million, a P/E ratio of 18.14 and a beta of 1.04. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.10. Altus Power has a 12-month low of $2.71 and a 12-month high of $7.28.

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.