Altus Power, Inc. (NYSE:AMPS) Receives $8.63 Consensus PT from Analysts

Shares of Altus Power, Inc. (NYSE:AMPS) have been assigned a consensus rating of “Buy” from the six analysts that are presently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have covered the stock in the last year is $8.86.

Several analysts recently issued reports on AMPS shares. Morgan Stanley cut their target price on shares of Altus Power from $11.00 to $9.00 and set an “overweight” rating for the company in a research report on Friday, December 8th. Roth Mkm lowered their target price on Altus Power from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, March 15th. Finally, B. Riley boosted their price target on Altus Power from $8.00 to $10.00 and gave the company a “buy” rating in a report on Monday, February 5th.

Altus Power Stock Down 1.1 %

AMPS stock opened at $4.70 on Tuesday. The company has a market cap of $747.68 million, a price-to-earnings ratio of -67.13 and a beta of 0.88. The company has a debt-to-equity ratio of 2.33, a quick ratio of 2.15 and a current ratio of 2.15. The business’s 50-day moving average is $5.86 and its two-hundred day moving average is $5.66. Altus Power has a fifty-two week low of $4.08 and a fifty-two week high of $7.28.

Insider Buying and Selling at Altus Power

In related news, insider Anthony Savino sold 34,725 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $7.02, for a total transaction of $243,769.50. Following the completion of the sale, the insider now directly owns 3,907,536 shares of the company’s stock, valued at approximately $27,430,902.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Anthony Savino sold 34,725 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $7.02, for a total transaction of $243,769.50. Following the transaction, the insider now owns 3,907,536 shares of the company’s stock, valued at approximately $27,430,902.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Dustin Weber sold 4,350 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $7.15, for a total transaction of $31,102.50. Following the transaction, the chief financial officer now directly owns 1,884,926 shares in the company, valued at approximately $13,477,220.90. The disclosure for this sale can be found here. Insiders have sold 83,673 shares of company stock worth $530,948 over the last quarter. Insiders own 31.55% of the company’s stock.

Institutional Trading of Altus Power

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Altus Power by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 3,934,964 shares of the company’s stock worth $26,876,000 after purchasing an additional 63,809 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Altus Power by 13.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 389,111 shares of the company’s stock worth $2,658,000 after purchasing an additional 45,635 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Altus Power by 22.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 41,141 shares of the company’s stock valued at $281,000 after buying an additional 7,581 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Altus Power in the 4th quarter valued at about $269,000. Finally, Barclays PLC boosted its stake in shares of Altus Power by 341.5% in the fourth quarter. Barclays PLC now owns 100,483 shares of the company’s stock worth $685,000 after buying an additional 77,726 shares during the last quarter. Hedge funds and other institutional investors own 46.55% of the company’s stock.

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.