Altus Power (NYSE:AMPS) Trading Up 8.1% - Should You Buy?

Altus Power, Inc. (NYSE:AMPS - Get Free Report) shares traded up 8.1% during mid-day trading on Monday . The stock traded as high as $3.61 and last traded at $3.61. 353,337 shares changed hands during trading, a decline of 67% from the average session volume of 1,058,375 shares. The stock had previously closed at $3.34.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AMPS shares. Maxim Group cut their target price on shares of Altus Power from $5.50 to $4.50 and set a "buy" rating on the stock in a report on Monday, August 12th. Citigroup decreased their price objective on shares of Altus Power from $7.00 to $5.50 and set a "buy" rating on the stock in a research report on Tuesday, October 22nd. Roth Mkm reiterated a "buy" rating and set a $4.50 target price on shares of Altus Power in a report on Wednesday, October 16th. UBS Group reduced 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. Finally, Morgan Stanley cut Altus Power from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $8.00 to $4.00 in a report on Wednesday, August 21st. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Altus Power presently has a consensus rating of "Buy" and an average price target of $5.94.

Altus Power Stock Performance

The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market cap of $569.20 million, a P/E ratio of 25.29 and a beta of 0.94. The business's 50-day moving average price is $3.26 and its 200-day moving average price is $3.71.

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

Institutional Investors Weigh In On Altus Power

A number of institutional investors have recently bought and sold shares of the business. ANTIPODES PARTNERS Ltd boosted its stake in Altus Power by 17.0% during the first 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 last quarter. Edmond DE Rothschild Holding S.A. increased its position in Altus Power by 38.4% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 428,963 shares of the company's stock worth $2,050,000 after purchasing an additional 118,963 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Altus Power by 15.2% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 259,441 shares of the company's stock valued at $1,240,000 after purchasing an additional 34,244 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position 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 valued at $212,000 after purchasing an additional 3,116 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in Altus Power by 196.6% during the first quarter. Janus Henderson Group PLC now owns 68,309 shares of the company's stock valued at $326,000 after purchasing an additional 45,276 shares during the last quarter. 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.