Altus Power (NYSE:AMPS) Stock Rating Reaffirmed by Roth Mkm

Altus Power (NYSE:AMPS - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at Roth Mkm in a report released on Wednesday, Benzinga reports. They presently have a $4.50 target price on the stock. Roth Mkm's price target indicates a potential upside of 19.52% from the stock's previous close.

A number of other research firms also recently commented on AMPS. Morgan Stanley downgraded 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. Maxim Group dropped their price objective on Altus Power from $5.50 to $4.50 and set a "buy" rating for the company in a report on Monday, August 12th. UBS Group dropped their price objective on Altus Power from $5.50 to $5.00 and set a "buy" rating for the company in a report on Friday, August 9th. Finally, B. Riley upgraded Altus Power to a "strong-buy" rating in a report on Tuesday, June 25th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Altus Power currently has an average rating of "Buy" and a consensus target price of $6.00.

Altus Power Trading Up 24.7 %

AMPS traded up $0.75 during trading on Wednesday, hitting $3.77. The company's stock had a trading volume of 3,683,144 shares, compared to its average volume of 1,074,299. The firm's 50 day moving average price is $3.15 and its 200-day moving average price is $3.80. 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 stock has a market cap of $604.93 million, a PE ratio of -75.30 and a beta of 0.96. Altus Power has a twelve month low of $2.71 and a twelve month 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, beating the consensus estimate of $0.03 by $0.13. The company had revenue of $52.46 million during 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%. On average, analysts expect that Altus Power will post 0.08 earnings per share for the current year.

Institutional Trading of Altus Power

A number of institutional investors have recently added to or reduced their stakes in the business. Summit Securities Group LLC purchased a new position in Altus Power in the 2nd quarter valued at about $39,000. Vaughan David Investments LLC IL bought a new position in shares of Altus Power during the second quarter worth about $55,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Altus Power during the second quarter worth about $68,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Altus Power during the first quarter worth about $88,000. Finally, SG Americas Securities LLC lifted its position in shares of Altus Power by 135.9% during 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 hedge funds and other 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.