Altus Power (NYSE:AMPS) Trading Down 3.5% – Time to Sell?

Altus Power, Inc. (NYSE:AMPS)’s share price dropped 3.5% on Friday . The company traded as low as $4.10 and last traded at $4.12. Approximately 48,519 shares were traded during trading, a decline of 96% from the average daily volume of 1,106,812 shares. The stock had previously closed at $4.27.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AMPS shares. JPMorgan Chase & Co. lowered Altus Power from a “neutral” rating to an “underweight” rating in a report on Thursday, December 12th. Roth Mkm reaffirmed a “buy” rating and issued a $4.50 price target on shares of Altus Power in a research report on Wednesday, October 16th. Finally, Citigroup decreased their price objective on Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.21.

Altus Power Stock Performance

The company has a market capitalization of $680.17 million, a price-to-earnings ratio of 19.23 and a beta of 1.04. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a 50 day simple moving average of $3.80 and a two-hundred day simple moving average of $3.67.

Hedge Funds Weigh In On Altus Power

Several hedge funds have recently added to or reduced their stakes in AMPS. Long Focus Capital Management LLC lifted its position in shares of 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 buying an additional 445,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Altus Power by 798.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 73,508 shares of the company’s stock worth $234,000 after acquiring an additional 65,327 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Altus Power by 37.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,974,269 shares of the company’s stock valued at $11,662,000 after acquiring an additional 807,071 shares during the last quarter. XTX Topco Ltd acquired a new position in Altus Power in the third quarter valued at $425,000. Finally, Skandinaviska Enskilda Banken AB publ boosted its stake in Altus Power by 112.1% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 1,411,042 shares of the company’s stock valued at $5,531,000 after acquiring an additional 745,810 shares in the last quarter. 46.55% of the stock is currently owned by hedge funds and other institutional investors.

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.