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

Altus Power, Inc. (NYSE:AMPS) has received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the company, MarketBeat Ratings reports. 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 issued a strong buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $5.21.

A number of research firms have weighed in on AMPS. Roth Mkm restated a “buy” rating and issued a $4.50 price target on shares of Altus Power in a report on Wednesday, October 16th. JPMorgan Chase & Co. cut shares of Altus Power from a “neutral” rating to an “underweight” rating in a research report on Thursday, December 12th. Finally, Citigroup cut their price target 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.

Altus Power Stock Performance

NYSE AMPS opened at $4.47 on Thursday. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.60 and a quick ratio of 0.60. Altus Power has a 1-year low of $2.71 and a 1-year high of $7.28. The firm has a market capitalization of $718.76 million, a P/E ratio of 20.32 and a beta of 1.04. The business’s 50-day simple moving average is $3.87 and its 200-day simple moving average is $3.66.

Institutional Investors Weigh In On Altus Power

A number of institutional investors have recently modified their holdings of the business. Long Focus Capital Management LLC grew its holdings in Altus Power by 427.6% in 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of 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 buying an additional 65,327 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Altus Power by 37.2% during 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 period. XTX Topco Ltd acquired a new stake in Altus Power in the third quarter worth approximately $425,000. Finally, Franklin Resources Inc. increased its position in shares of Altus Power by 47.2% during the 3rd quarter. Franklin Resources Inc. now owns 51,035 shares of the company’s stock valued at $161,000 after purchasing an additional 16,370 shares during the period. Institutional investors 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.