Altus Power, Inc. (NYSE:AMPS) Receives Average Recommendation of “Hold” from Analysts

Shares of Altus Power, Inc. (NYSE:AMPS) have been given an average recommendation of “Hold” by the nine brokerages that are currently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $5.06.

Several analysts recently weighed in on AMPS shares. UBS Group downgraded Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 target price for the company. in a research note on Monday, February 10th. JPMorgan Chase & Co. upgraded Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a research note on Thursday, February 6th. B. Riley downgraded Altus Power from a “buy” rating to a “neutral” rating and decreased their target price for the company from $6.00 to $5.00 in a research note on Friday, February 7th. Finally, Seaport Res Ptn downgraded Altus Power from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th.

Insiders Place Their Bets

In related news, CEO Gregg J. Felton sold 71,161 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total transaction of $349,400.51. Following the completion of the transaction, the chief executive officer now owns 4,023,696 shares in the company, valued at $19,756,347.36. This trade represents a 1.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anthony Savino sold 8,823 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total value of $43,320.93. Following the transaction, the insider now owns 4,088,231 shares of the company’s stock, valued at $20,073,214.21. This trade represents a 0.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,146 shares of company stock worth $437,707. 24.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Altus Power

Several hedge funds and other institutional investors have recently modified their holdings of AMPS. Encompass Capital Advisors LLC increased its holdings in Altus Power by 20.0% during the 4th quarter. Encompass Capital Advisors LLC now owns 8,027,318 shares of the company’s stock valued at $32,671,000 after purchasing an additional 1,336,044 shares in the last quarter. State Street Corp increased its holdings in Altus Power by 0.6% during the 3rd quarter. State Street Corp now owns 3,682,864 shares of the company’s stock valued at $11,712,000 after purchasing an additional 21,312 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Altus Power by 7.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,648,599 shares of the company’s stock valued at $14,850,000 after purchasing an additional 263,393 shares in the last quarter. Legal & General Group Plc increased its holdings in Altus Power by 1.4% during the 4th quarter. Legal & General Group Plc now owns 1,905,722 shares of the company’s stock valued at $7,756,000 after purchasing an additional 26,760 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Altus Power by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,564,740 shares of the company’s stock valued at $6,370,000 after purchasing an additional 10,450 shares in the last quarter. Institutional investors own 46.55% of the company’s stock.

Altus Power Stock Performance

Shares of NYSE AMPS opened at $4.96 on Tuesday. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.60 and a current ratio of 0.60. The firm has a market cap of $796.74 million, a price-to-earnings ratio of 22.52 and a beta of 0.98. The business’s 50-day simple moving average is $4.46 and its 200-day simple moving average is $3.90. Altus Power has a 52 week low of $2.71 and a 52 week high of $5.50.

Altus Power (NYSE:AMPS) last announced its earnings results on Monday, March 17th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.29). Altus Power had a net margin of 19.18% and a return on equity of 4.79%. As a group, equities research analysts expect that Altus Power will post 0.14 earnings per share for the current fiscal year.

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.