Altus Power (NYSE:AMPS) Rating Lowered to Underweight at JPMorgan Chase & Co.

Altus Power (NYSE:AMPS - Get Free Report) was downgraded by stock analysts at JPMorgan Chase & Co. from a "neutral" rating to an "underweight" rating in a research report issued to clients and investors on Thursday, MarketBeat.com reports.

Other analysts also recently issued research reports about the stock. Morgan Stanley downgraded shares of Altus Power from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $8.00 to $4.00 in a report on Wednesday, August 21st. Roth Mkm restated a "buy" rating and set a $4.50 price objective on shares of Altus Power in a report on Wednesday, October 16th. Finally, Citigroup decreased their price objective on shares of Altus Power from $7.00 to $5.50 and set a "buy" rating for the company in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Altus Power presently has an average rating of "Moderate Buy" and a consensus price target of $5.21.

Altus Power Stock Down 6.7 %

Shares of AMPS traded down $0.27 during trading hours on Thursday, reaching $3.76. 1,125,694 shares of the stock traded hands, compared to its average volume of 1,073,412. 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 stock has a fifty day simple moving average of $3.63 and a 200 day simple moving average of $3.69. Altus Power has a 52 week low of $2.71 and a 52 week high of $7.28. The company has a market cap of $604.59 million, a price-to-earnings ratio of 16.82 and a beta of 1.04.

Hedge Funds Weigh In On Altus Power

Hedge funds have recently bought and sold shares of the company. Summit Securities Group LLC purchased a new position in Altus Power during the second quarter valued at approximately $39,000. Iridian Asset Management LLC CT purchased a new position in Altus Power during the third quarter valued at approximately $40,000. HighTower Advisors LLC purchased a new position in Altus Power during the third quarter valued at approximately $41,000. Vaughan David Investments LLC IL purchased a new position in Altus Power during the second quarter valued at approximately $55,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Altus Power during the second quarter valued at approximately $68,000. 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.