Altus Power, Inc. (NYSE:AMPS) Given Consensus Rating of “Buy” by Analysts

Altus Power, Inc. (NYSE:AMPS) has been assigned an average rating of “Buy” from the ten analysts that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $5.94.

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

Altus Power Trading Down 1.6 %

Shares of Altus Power stock opened at $3.43 on Friday. The firm has a market capitalization of $550.30 million, a PE ratio of -68.50 and a beta of 0.96. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 2.18. The firm’s 50 day moving average is $3.18 and its 200 day moving average is $3.76. Altus Power has a 1 year low of $2.71 and a 1 year high of $7.28.

Altus Power (NYSE:AMPS) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) 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%. Equities research analysts forecast that Altus Power will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Altus Power

Institutional investors and hedge funds have recently modified their holdings of the stock. Swedbank AB purchased a new position in Altus Power during the first quarter worth $12,589,000. Dimensional Fund Advisors LP raised its position in Altus Power by 37.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,974,269 shares of the company’s stock valued at $11,662,000 after purchasing an additional 807,071 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Altus Power by 112.1% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,411,042 shares of the company’s stock worth $5,531,000 after buying an additional 745,810 shares during the period. Long Focus Capital Management LLC grew its position in shares of Altus Power by 427.6% during the 2nd quarter. Long Focus Capital Management LLC now owns 549,081 shares of the company’s stock worth $2,152,000 after buying an additional 445,000 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in shares of Altus Power during the second quarter valued at $1,085,000. 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.