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

Altus Power, Inc. (NYSE:AMPS) has earned a consensus rating of “Buy” from the ten brokerages that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $5.81.

Several research analysts recently commented on the company. Morgan Stanley cut Altus Power from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $8.00 to $4.00 in a research note on Wednesday, August 21st. Maxim Group decreased their price target 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. Roth Mkm restated a “buy” rating and issued a $4.50 target price on shares of Altus Power in a research note on Wednesday, October 16th. Citigroup reduced their price objective on Altus Power from $7.00 to $5.50 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Finally, UBS Group lowered their price objective on shares of Altus Power from $5.50 to $5.00 and set a “buy” rating for the company in a research report on Friday, August 9th.

Altus Power Stock Performance

Shares of AMPS stock opened at $3.85 on Wednesday. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.60 and a quick ratio of 0.91. The company’s fifty day moving average price is $3.35 and its two-hundred day moving average price is $3.70. The firm has a market capitalization of $619.04 million, a P/E ratio of 17.50 and a beta of 0.94. Altus Power has a 12 month low of $2.71 and a 12 month high of $7.28.

Institutional Investors Weigh In On Altus Power

Hedge funds and other institutional investors have recently modified their holdings of the stock. Summit Securities Group LLC bought a new position in Altus Power during the 2nd quarter valued at $39,000. Iridian Asset Management LLC CT bought a new stake in Altus Power in the third quarter worth about $40,000. HighTower Advisors LLC acquired a new stake in Altus Power in the 3rd quarter valued at about $41,000. Vaughan David Investments LLC IL bought a new position in shares of Altus Power during the 2nd quarter valued at about $55,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Altus Power in the 2nd quarter worth approximately $68,000. 46.55% of the stock is currently owned by institutional investors.

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.