Encompass Capital Advisors LLC Boosts Stock Position in Altus Power, Inc. (NYSE:AMPS)

Encompass Capital Advisors LLC raised its stake in Altus Power, Inc. (NYSE:AMPS) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,628,613 shares of the company’s stock after purchasing an additional 53,031 shares during the quarter. Encompass Capital Advisors LLC’s holdings in Altus Power were worth $18,144,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Summit Securities Group LLC acquired a new position in shares of Altus Power during the second quarter worth about $39,000. Vaughan David Investments LLC IL purchased a new stake in Altus Power in the 2nd quarter valued at approximately $55,000. Victory Capital Management Inc. purchased a new stake in Altus Power in the 4th quarter valued at approximately $72,000. Jacobs Levy Equity Management Inc. acquired a new position in Altus Power during the 1st quarter worth approximately $88,000. Finally, Bailard Inc. purchased a new position in shares of Altus Power during the 2nd quarter worth approximately $114,000. Institutional investors and hedge funds own 46.55% of the company’s stock.

Altus Power Price Performance

Altus Power stock opened at $3.10 on Thursday. The firm has a market capitalization of $498.45 million, a PE ratio of -61.99 and a beta of 0.96. Altus Power, Inc. has a 52 week low of $2.80 and a 52 week high of $7.28. The firm’s 50-day simple moving average is $3.42 and its 200 day simple moving average is $4.00. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 2.18.

Altus Power (NYSE:AMPS) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.13. The company had revenue of $52.46 million for 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%. On average, equities research analysts predict that Altus Power, Inc. will post 0.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AMPS. Seaport Res Ptn upgraded Altus Power to a “strong-buy” rating in a research note on Monday, June 3rd. 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 research report on Friday, August 9th. Maxim Group lowered their price target on shares of Altus Power from $5.50 to $4.50 and set a “buy” rating on the stock in a research note on Monday, August 12th. Morgan Stanley cut shares of Altus Power from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $8.00 to $4.00 in a research note on Wednesday, August 21st. Finally, Roth Mkm lowered their target price on shares of Altus Power from $5.00 to $4.50 and set a “buy” rating on the stock in a research report on Friday, August 9th. Two 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. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $6.00.

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.