Altus Power (NYSE:AMPS) Sees Large Volume Increase - Here's Why

Altus Power, Inc. (NYSE:AMPS - Get Free Report) shares saw unusually-high trading volume on Wednesday . Approximately 5,130,262 shares were traded during trading, an increase of 205% from the previous session's volume of 1,680,100 shares.The stock last traded at $4.98 and had previously closed at $4.96.

Analyst Upgrades and Downgrades

AMPS has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised shares of Altus Power from an "underweight" rating to a "neutral" rating and set a $5.00 price target on the stock in a research report on Thursday, February 6th. B. Riley downgraded shares of Altus Power from a "buy" rating to a "neutral" rating and dropped their price target for the company from $6.00 to $5.00 in a research report on Friday, February 7th. Roth Capital downgraded Altus Power from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 20th. Roth Mkm restated a "neutral" rating and set a $5.00 price objective on shares of Altus Power in a research note on Friday, March 21st. Finally, UBS Group downgraded Altus Power from a "buy" rating to a "neutral" rating and set a $5.00 target price for the company. in a research report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, Altus Power has an average rating of "Hold" and an average target price of $5.13.

Altus Power Price Performance

The business has a fifty day moving average price of $4.91 and a 200 day moving average price of $4.15. The company has a market cap of $800.50 million, a price-to-earnings ratio of 22.68 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.

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

Insider Buying and Selling at Altus Power

In related news, CFO Dustin Weber sold 9,162 shares of Altus Power 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anthony Savino sold 8,823 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total transaction of $43,320.93. Following the sale, the insider now directly owns 4,088,231 shares in the company, valued at $20,073,214.21. The trade was a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 221,422 shares of company stock worth $1,093,796 over the last quarter. Corporate insiders own 24.30% of the company's stock.

Institutional Trading of Altus Power

A number of institutional investors and hedge funds have recently bought and sold shares of AMPS. US Bancorp DE grew its position in shares of Altus Power by 11,326.2% in the 4th quarter. US Bancorp DE now owns 9,598 shares of the company's stock valued at $39,000 after buying an additional 9,514 shares during the last quarter. HighTower Advisors LLC acquired a new position in shares of Altus Power in the third quarter worth approximately $41,000. Citizens Financial Group Inc. RI bought a new stake in Altus Power in the fourth quarter valued at approximately $41,000. SevenBridge Financial Group LLC acquired a new stake in Altus Power during the 4th quarter valued at approximately $41,000. Finally, One68 Global Capital LLC bought a new position in Altus Power during the 4th quarter worth approximately $41,000. 46.55% of the stock is currently owned by institutional investors and hedge funds.

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.