Altus Power, Inc. (NYSE:AMPS) Given Average Recommendation of “Buy” by Brokerages

Shares of Altus Power, Inc. (NYSE:AMPS) have received a consensus recommendation of “Buy” from the ten research firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $5.81.

Several research analysts have recently commented on AMPS shares. UBS Group dropped their price target on shares of Altus Power from $5.50 to $5.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Citigroup cut their target price on Altus Power from $7.00 to $5.50 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Roth Mkm reiterated a “buy” rating and set a $4.50 price target on shares of Altus Power in a research note on Wednesday, October 16th. Morgan Stanley lowered Altus Power from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $8.00 to $4.00 in a report on Wednesday, August 21st. Finally, Maxim Group dropped their price target on shares of Altus Power from $5.50 to $4.50 and set a “buy” rating on the stock in a research report on Monday, August 12th.

Hedge Funds Weigh In On Altus Power

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMPS. Summit Securities Group LLC acquired a new stake in shares of Altus Power during the 2nd quarter worth approximately $39,000. Iridian Asset Management LLC CT acquired a new stake in Altus Power during the third quarter worth $40,000. HighTower Advisors LLC bought a new stake in Altus Power in the 3rd quarter valued at $41,000. Vaughan David Investments LLC IL acquired a new position in shares of Altus Power in the 2nd quarter valued at $55,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Altus Power during the 2nd quarter worth about $68,000. 46.55% of the stock is currently owned by institutional investors.

Altus Power Trading Down 6.1 %

Shares of NYSE AMPS opened at $3.85 on Wednesday. The stock has a market cap of $619.04 million, a price-to-earnings ratio of 17.50 and a beta of 0.94. The business has a 50 day simple moving average of $3.35 and a 200 day simple moving average of $3.70. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.91 and a current ratio of 0.60. Altus Power has a 52 week low of $2.71 and a 52 week high of $7.28.

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.