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

Altus Power, Inc. (NYSE:AMPS) has been given a consensus recommendation of “Buy” by the nine analysts that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $6.00.

Several analysts have recently issued reports on AMPS shares. Morgan Stanley lowered Altus Power from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $8.00 to $4.00 in a report on Wednesday, August 21st. UBS Group decreased their target price on shares of Altus Power from $5.50 to $5.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Roth Mkm dropped their target price on shares of Altus Power from $5.00 to $4.50 and set a “buy” rating for the company in a research report on Friday, August 9th. Seaport Res Ptn upgraded shares of Altus Power to a “strong-buy” rating in a research report on Monday, June 3rd. Finally, Maxim Group lowered their price objective on shares of Altus Power from $5.50 to $4.50 and set a “buy” rating for the company in a research report on Monday, August 12th.

Institutional Trading of Altus Power

A number of hedge funds have recently added to or reduced their stakes in AMPS. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Altus Power by 14.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 297,713 shares of the company’s stock worth $1,167,000 after buying an additional 38,272 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Altus Power during the 2nd quarter worth $68,000. 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 acquiring an additional 445,000 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Altus Power by 24.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,771 shares of the company’s stock worth $125,000 after purchasing an additional 6,209 shares in the last quarter. Finally, Encompass Capital Advisors LLC raised its position in Altus Power by 1.2% in the second quarter. Encompass Capital Advisors LLC now owns 4,628,613 shares of the company’s stock valued at $18,144,000 after purchasing an additional 53,031 shares during the last quarter. Institutional investors and hedge funds own 46.55% of the company’s stock.

Altus Power Price Performance

NYSE:AMPS opened at $3.27 on Tuesday. Altus Power has a 52 week low of $2.80 and a 52 week high of $7.28. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.91 and a current ratio of 0.91. The firm’s 50-day simple moving average is $3.47 and its 200 day simple moving average is $4.03. The firm has a market cap of $525.40 million, a price-to-earnings ratio of -65.40 and a beta of 0.96.

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

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.