Altus Power's (AMPS) "Neutral" Rating Reaffirmed at Roth Mkm

Altus Power (NYSE:AMPS - Get Free Report)'s stock had its "neutral" rating reaffirmed by equities research analysts at Roth Mkm in a research note issued to investors on Friday,Benzinga reports. They presently have a $5.00 target price on the stock. Roth Mkm's price objective would suggest a potential upside of 1.01% from the stock's previous close.

AMPS has been the topic of several other research reports. UBS Group cut shares of 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. JPMorgan Chase & Co. upgraded Altus Power from an "underweight" rating to a "neutral" rating and set a $5.00 target price on the stock 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, B. Riley downgraded Altus Power from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $6.00 to $5.00 in a research note on Friday, February 7th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Altus Power has a consensus rating of "Hold" and a consensus target price of $5.13.

Altus Power Price Performance

Shares of NYSE:AMPS traded up $0.01 during trading on Friday, hitting $4.95. 1,768,249 shares of the company's stock were exchanged, compared to its average volume of 1,554,054. The business's 50-day simple moving average is $4.56 and its 200 day simple moving average is $3.98. The company has a market cap of $795.94 million, a price-to-earnings ratio of 22.50 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 current ratio of 0.60 and a quick ratio of 0.60.

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

Insider Activity

In related news, 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 transaction of $43,320.93. Following the completion of the transaction, the insider now directly owns 4,088,231 shares of the company's stock, valued at approximately $20,073,214.21. The trade was a 0.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Dustin Weber sold 9,162 shares of the stock in a transaction dated Thursday, February 20th. The stock was 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 in the company, valued at $9,832,820.01. This trade represents a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,146 shares of company stock valued at $437,707. 24.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Altus Power

A number of large investors have recently bought and sold shares of the business. Encompass Capital Advisors LLC increased its stake in Altus Power by 20.0% in the fourth quarter. Encompass Capital Advisors LLC now owns 8,027,318 shares of the company's stock worth $32,671,000 after purchasing an additional 1,336,044 shares during the period. Quinn Opportunity Partners LLC bought a new stake in Altus Power during the 4th quarter valued at about $1,887,000. Millennium Management LLC lifted its holdings in Altus Power by 148.3% during the 4th quarter. Millennium Management LLC now owns 652,278 shares of the company's stock valued at $2,655,000 after buying an additional 389,605 shares in the last quarter. Dimensional Fund Advisors LP boosted its position 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 period. Finally, XTX Topco Ltd bought a new position in Altus Power in the 3rd quarter worth about $425,000. Hedge funds and other institutional investors 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.