Roth Capital downgraded shares of Altus Power (NYSE:AMPS - Free Report) from a strong-buy rating to a hold rating in a research note released on Thursday,Zacks.com reports.
AMPS has been the topic of several other reports. B. Riley lowered shares of Altus Power from a "buy" rating to a "neutral" rating and cut their price objective for the company from $6.00 to $5.00 in a report on Friday, February 7th. UBS Group downgraded Altus Power from a "buy" rating to a "neutral" rating and set a $5.00 price target on the stock. in a research note on Monday, February 10th. Roth Mkm reiterated a "neutral" rating and issued a $5.00 price objective on shares of Altus Power in a report on Friday, March 21st. JPMorgan Chase & Co. raised Altus Power from an "underweight" rating to a "neutral" rating and set a $5.00 target price on the stock in a research note on Thursday, February 6th. Finally, Seaport Res Ptn lowered Altus Power from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 6th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $5.13.
Check Out Our Latest Stock Report on AMPS
Altus Power Trading Up 0.3 %
AMPS traded up $0.02 during mid-day trading on Thursday, reaching $4.96. The stock had a trading volume of 1,260,803 shares, compared to its average volume of 1,553,703. The firm's fifty day simple moving average is $4.59 and its two-hundred day simple moving average is $3.99. The stock has a market capitalization of $794.89 million, a P/E ratio of 22.52 and a beta of 0.98. Altus Power has a 52 week low of $2.71 and a 52 week high of $5.50. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.60 and a current ratio of 0.60.
Altus Power (NYSE:AMPS - Get Free Report) last posted its quarterly earnings results on Monday, March 17th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.28). The firm had revenue of $44.47 million during the quarter, compared to the consensus estimate of $46.64 million. Altus Power had a net margin of 19.18% and a return on equity of 4.79%. On average, equities analysts predict that Altus Power will post 0.14 EPS for the current year.
Insider Activity at Altus Power
In related news, CEO Gregg J. Felton sold 71,161 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total value of $349,400.51. Following the completion of the transaction, the chief executive officer now directly owns 4,023,696 shares of the company's stock, valued at approximately $19,756,347.36. This represents a 1.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anthony Savino sold 8,823 shares of Altus Power stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $4.91, for a total value of $43,320.93. Following the completion of the sale, the insider now directly owns 4,088,231 shares in the company, valued at $20,073,214.21. This represents a 0.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 89,146 shares of company stock worth $437,707. 24.30% of the stock is owned by company insiders.
Institutional Investors Weigh In On Altus Power
Several institutional investors have recently bought and sold shares of the company. Encompass Capital Advisors LLC grew its stake in shares of Altus Power by 20.0% during the 4th quarter. Encompass Capital Advisors LLC now owns 8,027,318 shares of the company's stock worth $32,671,000 after acquiring an additional 1,336,044 shares in the last quarter. Quinn Opportunity Partners LLC bought a new position in Altus Power in the fourth quarter valued at $1,887,000. Millennium Management LLC grew its position in Altus Power by 148.3% in the fourth quarter. Millennium Management LLC now owns 652,278 shares of the company's stock valued at $2,655,000 after purchasing an additional 389,605 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Altus Power by 7.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,648,599 shares of the company's stock valued at $14,850,000 after buying an additional 263,393 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in Altus Power during the 3rd quarter worth about $425,000. Institutional investors own 46.55% of the company's stock.
About Altus Power
(
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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.
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