Altus Power (NYSE:AMPS) Stock Price Down 3.8%

Altus Power, Inc. (NYSE:AMPS) shares were down 3.8% during trading on Monday . The stock traded as low as $3.25 and last traded at $3.25. Approximately 90,510 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 1,071,899 shares. The stock had previously closed at $3.38.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AMPS. Seaport Res Ptn upgraded shares of Altus Power to a “strong-buy” rating in a report on Monday, June 3rd. Morgan Stanley cut shares of Altus Power from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $8.00 to $4.00 in a research report on Wednesday, August 21st. Roth Mkm decreased their price objective on shares of Altus Power from $5.00 to $4.50 and set a “buy” rating for the company in a report on Friday, August 9th. Maxim Group cut their target price on Altus Power from $5.50 to $4.50 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, B. Riley upgraded Altus Power to a “strong-buy” rating in a research note on Tuesday, June 25th. Two 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $6.00.

Altus Power Price Performance

The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 2.18. The stock has a market cap of $520.58 million, a PE ratio of -67.60 and a beta of 0.96. The firm’s fifty day moving average price is $3.39 and its 200 day moving average price is $3.94.

Altus Power (NYSE:AMPS) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.03 by $0.13. Altus Power had a return on equity of 2.52% and a net margin of 13.55%. The firm had revenue of $52.46 million for the quarter, compared to analyst estimates of $57.61 million. As a group, equities analysts expect that Altus Power, Inc. will post 0.08 EPS for the current fiscal year.

Institutional Trading of Altus Power

Several large investors have recently bought and sold shares of AMPS. Summit Securities Group LLC acquired a new stake in shares of Altus Power during the second quarter valued at about $39,000. Vaughan David Investments LLC IL acquired a new position in Altus Power during the second quarter worth approximately $55,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Altus Power during the second quarter worth approximately $68,000. Jacobs Levy Equity Management Inc. purchased a new position in Altus Power in the first quarter worth $88,000. Finally, Bailard Inc. purchased a new position in shares of Altus Power in the second quarter valued at $114,000. Hedge funds and other institutional investors own 46.55% of the company’s stock.

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.