Altus Power (NYSE:AMPS) Receives Neutral Rating from Roth Mkm

Altus Power (NYSE:AMPS - Get Free Report)'s stock had its "neutral" rating reiterated by research analysts at Roth Mkm in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $5.00 target price on the stock. Roth Mkm's price objective indicates a potential upside of 1.21% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the stock. B. Riley cut shares of Altus Power from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $6.00 to $5.00 in a research note on Friday, February 7th. JPMorgan Chase & Co. upgraded shares of Altus Power from an "underweight" rating to a "neutral" rating and set a $5.00 price objective for the company in a research report on Thursday, February 6th. Seaport Res Ptn lowered Altus Power from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 6th. Finally, 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 report on Monday, February 10th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Altus Power has a consensus rating of "Hold" and an average price target of $5.13.

Altus Power Stock Performance

Shares of AMPS stock traded up $0.01 during trading hours on Friday, hitting $4.94. The company's stock had a trading volume of 283,883 shares, compared to its average volume of 1,548,077. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.10. The company has a 50 day moving average of $4.52 and a 200 day moving average of $3.96. Altus Power has a 12-month low of $2.71 and a 12-month high of $5.50. The stock has a market cap of $794.33 million, a PE ratio of 22.45 and a beta of 0.98.

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Altus Power (NYSE:AMPS - Get Free Report) last announced 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 analyst estimates of $46.64 million. Altus Power had a return on equity of 4.79% and a net margin of 19.18%. On average, sell-side analysts forecast that Altus Power will post 0.14 EPS for the current fiscal year.

Insider Transactions at Altus Power

In other news, insider Anthony Savino sold 8,823 shares of the firm's 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 transaction, the insider now directly owns 4,088,231 shares of the company's stock, valued at approximately $20,073,214.21. This trade represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction, the chief executive officer now owns 4,023,696 shares in the company, valued at $19,756,347.36. The trade was a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,146 shares of company stock valued at $437,707 over the last ninety days. Insiders own 24.30% of the company's stock.

Hedge Funds Weigh In On Altus Power

A number of institutional investors have recently added to or reduced their stakes in the stock. Encompass Capital Advisors LLC grew its holdings in Altus Power by 20.0% in the 4th quarter. Encompass Capital Advisors LLC now owns 8,027,318 shares of the company's stock valued at $32,671,000 after buying an additional 1,336,044 shares in the last quarter. State Street Corp boosted its position in shares of Altus Power by 0.6% during the 3rd quarter. State Street Corp now owns 3,682,864 shares of the company's stock valued at $11,712,000 after acquiring an additional 21,312 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Altus Power by 7.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,648,599 shares of the company's stock valued at $14,850,000 after purchasing an additional 263,393 shares during the period. Legal & General Group Plc increased its position in Altus Power by 1.4% during the fourth quarter. Legal & General Group Plc now owns 1,905,722 shares of the company's stock worth $7,756,000 after purchasing an additional 26,760 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Altus Power by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 1,564,740 shares of the company's stock worth $6,370,000 after purchasing an additional 10,450 shares during the period. 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.