Brokerages Set Altus Power, Inc. (NYSE:AMPS) Target Price at $5.13

Altus Power, Inc. (NYSE:AMPS - Get Free Report) has been assigned a consensus rating of "Hold" from the ten analysts that are covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $5.13.

A number of analysts recently issued reports on AMPS shares. Roth Mkm reissued a "neutral" rating and set a $5.00 target price on shares of Altus Power in a research report on Friday, March 21st. JPMorgan Chase & Co. upgraded shares of Altus Power from an "underweight" rating to a "neutral" rating and set a $5.00 price objective on the stock in a report on Thursday, February 6th. B. Riley cut shares of Altus Power from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $6.00 to $5.00 in a research report on Friday, February 7th. Seaport Res Ptn lowered Altus Power from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 6th. Finally, Roth Capital downgraded Altus Power from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 20th.

Altus Power Stock Performance

AMPS traded down $0.01 during trading on Friday, hitting $5.00. The stock had a trading volume of 5,274,621 shares, compared to its average volume of 1,748,266. Altus Power has a twelve month low of $2.71 and a twelve month high of $5.50. The firm has a market capitalization of $801.30 million, a P/E ratio of 22.70 and a beta of 0.94. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.60 and a current ratio of 0.60. The company's 50-day moving average price is $4.93 and its 200 day moving average price is $4.16.

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Altus Power (NYSE:AMPS - Get Free Report) last released its quarterly earnings results on Monday, March 17th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.28). The company had revenue of $44.47 million for the quarter, compared to analysts' expectations of $46.64 million. Altus Power had a return on equity of 4.79% and a net margin of 19.18%. On average, equities research analysts forecast that Altus Power will post 0.14 EPS for the current fiscal year.

Insider Activity

In other news, CEO Gregg J. Felton sold 71,161 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $4.91, for a total transaction of $349,400.51. Following the completion of the transaction, the chief executive officer now directly owns 4,023,696 shares in the company, valued at approximately $19,756,347.36. The trade was a 1.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Dustin Weber sold 9,162 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total transaction of $44,985.42. Following the completion of the sale, the chief financial officer now directly owns 2,002,611 shares of the company's stock, valued at $9,832,820.01. The trade was a 0.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 221,422 shares of company stock valued at $1,093,796 over the last three months. 24.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Altus Power

A number of large investors have recently bought and sold shares of AMPS. Magnus Financial Group LLC bought a new stake in Altus Power in the 4th quarter valued at $333,000. Pictet Asset Management Holding SA raised its position in Altus Power by 23.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 34,656 shares of the company's stock valued at $141,000 after purchasing an additional 6,524 shares in the last quarter. Barclays PLC raised its stake in Altus Power by 312.8% during the third quarter. Barclays PLC now owns 115,987 shares of the company's stock worth $369,000 after acquiring an additional 87,886 shares in the last quarter. Ballentine Partners LLC bought a new stake in shares of Altus Power during the fourth quarter worth $112,000. Finally, Bank of New York Mellon Corp grew its position in Altus Power by 48.1% during the 4th quarter. Bank of New York Mellon Corp now owns 267,220 shares of the company's stock worth $1,088,000 after acquiring an additional 86,797 shares during the last quarter. Institutional investors and hedge funds 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.