Altus Power (NYSE:AMPS) Trading 5.6% Higher - Time to Buy?

Altus Power, Inc. (NYSE:AMPS - Get Free Report)'s stock price was up 5.6% on Friday . The company traded as high as $3.59 and last traded at $3.59. Approximately 170,938 shares traded hands during trading, a decline of 84% from the average daily volume of 1,062,441 shares. The stock had previously closed at $3.40.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AMPS. UBS Group decreased their price target on Altus Power from $5.50 to $5.00 and set a "buy" rating for the company in a report on Friday, August 9th. Morgan Stanley downgraded Altus Power from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $8.00 to $4.00 in a report on Wednesday, August 21st. Citigroup cut their price target on Altus Power from $7.00 to $5.50 and set a "buy" rating on the stock in a report on Tuesday. Maxim Group lowered their price objective on shares of Altus Power from $5.50 to $4.50 and set a "buy" rating for the company in a research note on Monday, August 12th. Finally, Roth Mkm reiterated a "buy" rating and set a $4.50 target price on shares of Altus Power in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $5.94.

Altus Power Price Performance

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 stock has a market capitalization of $549.50 million, a P/E ratio of -67.60 and a beta of 0.96. The business's 50 day simple moving average is $3.20 and its two-hundred day simple moving average is $3.75.

Altus Power (NYSE:AMPS - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $57.61 million. As a group, sell-side analysts forecast that Altus Power, Inc. will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Altus Power

Large investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its holdings in 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 acquiring an additional 3,116 shares during the period. ANTIPODES PARTNERS Ltd raised its stake in shares of Altus Power by 17.0% during the 1st quarter. ANTIPODES PARTNERS Ltd now owns 35,198 shares of the company's stock worth $168,000 after purchasing an additional 5,116 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Altus Power by 24.3% in the 2nd 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. American Century Companies Inc. grew its position in Altus Power by 14.3% during the second quarter. American Century Companies Inc. now owns 72,322 shares of the company's stock valued at $284,000 after buying an additional 9,062 shares during the period. Finally, Summit Securities Group LLC purchased a new stake in Altus Power during the second quarter worth about $39,000. 46.55% of the stock is currently owned by institutional investors.

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.