Altus Power (NYSE:AMPS) Shares Up 5.9%

Altus Power, Inc. (NYSE:AMPS)’s share price was up 5.9% during mid-day trading on Friday . The company traded as high as $3.43 and last traded at $3.43. Approximately 106,120 shares traded hands during trading, a decline of 90% from the average daily volume of 1,071,782 shares. The stock had previously closed at $3.24.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AMPS. Maxim Group cut their target price 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. B. Riley upgraded Altus Power to a “strong-buy” rating in a research note on Tuesday, June 25th. Morgan Stanley downgraded Altus Power from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $8.00 to $4.00 in a research note on Wednesday, August 21st. UBS Group decreased their price objective on Altus Power from $5.50 to $5.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Roth Mkm dropped their price objective on shares of Altus Power from $5.00 to $4.50 and set a “buy” rating on the stock in a research note on Friday, August 9th. 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. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $6.00.

Altus Power Price Performance

The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 2.18. The business’s fifty day moving average is $3.40 and its 200 day moving average is $3.99. The company has a market cap of $546.69 million, a P/E ratio of -68.59 and a beta of 0.96.

Altus Power (NYSE:AMPS) last issued its 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 firm had revenue of $52.46 million for the quarter, compared to analyst estimates of $57.61 million. Altus Power had a return on equity of 2.52% and a net margin of 13.55%. As a group, sell-side analysts anticipate that Altus Power, Inc. will post 0.08 EPS for the current year.

Institutional Trading of Altus Power

Several hedge funds and other institutional investors have recently modified their holdings of AMPS. Summit Securities Group LLC bought a new position in Altus Power in the 2nd quarter worth about $39,000. Vaughan David Investments LLC IL purchased a new position in Altus Power during the second quarter valued at approximately $55,000. Susquehanna Fundamental Investments LLC bought a new stake in Altus Power during the 2nd quarter worth approximately $68,000. Victory Capital Management Inc. purchased a new stake in Altus Power in the 4th quarter worth approximately $72,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in Altus Power in the 1st quarter valued at $88,000. 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.