Altus Power (NYSE:AMPS) Price Target Cut to $5.50 by Analysts at Citigroup

Altus Power (NYSE:AMPS - Free Report) had its price objective trimmed by Citigroup from $7.00 to $5.50 in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the company. 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. B. Riley raised Altus Power to a "strong-buy" rating in a research report on Tuesday, June 25th. Roth Mkm reaffirmed a "buy" rating and issued a $4.50 target price on shares of Altus Power in a research report on Wednesday, October 16th. Morgan Stanley lowered Altus Power from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $8.00 to $4.00 in a research report on Wednesday, August 21st. Finally, UBS Group dropped their target price on Altus Power from $5.50 to $5.00 and set a "buy" rating on the stock in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $5.94.

Altus Power Stock Performance

Shares of AMPS stock traded down $0.13 on Tuesday, hitting $3.48. 853,825 shares of the stock traded hands, compared to its average volume of 1,071,044. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $559.14 million, a PE ratio of -69.80 and a beta of 0.96. Altus Power has a 1-year low of $2.71 and a 1-year high of $7.28. The company's fifty day moving average is $3.17 and its 200 day moving average is $3.76.

Altus Power (NYSE:AMPS - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, beating 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 business had revenue of $52.46 million for the quarter, compared to analyst estimates of $57.61 million. On average, equities research analysts predict that Altus Power will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Altus Power

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Summit Securities Group LLC bought a new stake in shares of Altus Power in the 2nd quarter valued at about $39,000. Vaughan David Investments LLC IL bought a new stake in Altus Power during the second quarter valued at $55,000. Susquehanna Fundamental Investments LLC bought a new stake in Altus Power during the second quarter valued at $68,000. Jacobs Levy Equity Management Inc. purchased a new stake in Altus Power during the first quarter valued at about $88,000. Finally, SG Americas Securities LLC grew its stake in shares of Altus Power by 135.9% in the third quarter. SG Americas Securities LLC now owns 30,146 shares of the company's stock worth $96,000 after purchasing an additional 17,368 shares during the last quarter. 46.55% of the stock is owned by institutional investors and hedge funds.

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.