Altus Power, Inc. (NYSE:AMPS) Receives Average Recommendation of "Buy" from Analysts

Shares of Altus Power, Inc. (NYSE:AMPS - Get Free Report) have been given an average recommendation of "Buy" by the nine ratings firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $6.00.

A number of research firms recently weighed in on AMPS. Morgan Stanley lowered shares of Altus Power from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $8.00 to $4.00 in a research note on Wednesday, August 21st. B. Riley upgraded shares of Altus Power to a "strong-buy" rating in a research note on Tuesday, June 25th. Roth Mkm reissued a "buy" rating and issued a $4.50 price objective on shares of Altus Power in a research note on Wednesday. Maxim Group dropped their target price on Altus Power from $5.50 to $4.50 and set a "buy" rating on the stock in a research report on Monday, August 12th. Finally, UBS Group cut their price target on Altus Power from $5.50 to $5.00 and set a "buy" rating on the stock in a report on Friday, August 9th.

Altus Power Trading Up 0.6 %

AMPS traded up $0.02 during trading on Friday, reaching $3.62. The company had a trading volume of 1,063,188 shares, compared to its average volume of 1,074,659. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 2.18. The business has a 50 day simple moving average of $3.16 and a 200-day simple moving average of $3.78. The stock has a market cap of $581.63 million, a P/E ratio of -72.40 and a beta of 0.96. Altus Power has a 52 week low of $2.71 and a 52 week high of $7.28.

Altus Power (NYSE:AMPS - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.13. Altus Power had a return on equity of 2.52% and a net margin of 13.55%. The firm had revenue of $52.46 million for the quarter, compared to the consensus estimate of $57.61 million. On average, equities analysts anticipate that Altus Power will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Altus Power

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Altus Power by 7.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 44,257 shares of the company's stock worth $212,000 after purchasing an additional 3,116 shares during the last quarter. ANTIPODES PARTNERS Ltd lifted its holdings in shares of Altus Power by 17.0% in the 1st quarter. ANTIPODES PARTNERS Ltd now owns 35,198 shares of the company's stock valued at $168,000 after buying an additional 5,116 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Altus Power by 24.3% in the second quarter. The Manufacturers Life Insurance Company now owns 31,771 shares of the company's stock worth $125,000 after buying an additional 6,209 shares during the last quarter. Bouvel Investment Partners LLC grew its holdings in Altus Power by 2.8% during the first quarter. Bouvel Investment Partners LLC now owns 305,673 shares of the company's stock worth $1,461,000 after acquiring an additional 8,295 shares during the period. Finally, American Century Companies Inc. grew its holdings in Altus Power by 14.3% during the second quarter. American Century Companies Inc. now owns 72,322 shares of the company's stock worth $284,000 after acquiring an additional 9,062 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.