Shares of Altus Power, Inc. (NYSE:AMPS – Get Free Report) traded down 4.4% during mid-day trading on Tuesday after Citigroup lowered their price target on the stock from $7.00 to $5.50. Citigroup currently has a buy rating on the stock. Altus Power traded as low as $3.45 and last traded at $3.45. 132,688 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 1,067,509 shares. The stock had previously closed at $3.61.
Several other research analysts also recently commented on AMPS. Maxim Group dropped 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. Roth Mkm reiterated a “buy” rating and issued a $4.50 target price on shares of Altus Power in a report on Wednesday, October 16th. UBS Group dropped their target price on shares of Altus Power from $5.50 to $5.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Morgan Stanley downgraded shares of 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 report on Wednesday, August 21st. Finally, B. Riley upgraded shares of Altus Power to a “strong-buy” rating in a report on Tuesday, June 25th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Altus Power currently has an average rating of “Buy” and a consensus price target of $5.94.
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Altus Power Price Performance
The stock’s 50-day moving average price is $3.18 and its 200-day moving average price is $3.76. The company has a market capitalization of $550.30 million, a price-to-earnings ratio of -68.50 and a beta of 0.96. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 2.18.
Altus Power (NYSE:AMPS – Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.13. Altus Power had a net margin of 13.55% and a return on equity of 2.52%. The company had revenue of $52.46 million for the quarter, compared to analyst estimates of $57.61 million. Equities research analysts anticipate that Altus Power, Inc. will post 0.08 earnings per share for the current year.
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.
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