Altus Power (NYSE:AMPS) Stock Rating Reaffirmed by Morgan Stanley

Altus Power (NYSE:AMPS)‘s stock had its “overweight” rating reissued by equities researchers at Morgan Stanley in a research note issued to investors on Thursday, Benzinga reports. They currently have a $9.00 target price on the stock. Morgan Stanley’s target price suggests a potential upside of 113.78% from the stock’s current price.

AMPS has been the topic of a number of other reports. Maxim Group initiated coverage on shares of Altus Power in a research note on Wednesday. They issued a “buy” rating and a $7.00 price target on the stock. Roth Mkm lowered their price target on shares of Altus Power from $8.00 to $7.00 and set a “buy” rating for the company in a report on Friday, March 15th. Finally, B. Riley raised their price objective on Altus Power from $8.00 to $10.00 and gave the company a “buy” rating in a report on Monday, February 5th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $8.63.

Altus Power Stock Down 4.5 %

NYSE AMPS opened at $4.21 on Thursday. The business has a fifty day moving average price of $5.75 and a two-hundred day moving average price of $5.61. The stock has a market capitalization of $669.73 million, a PE ratio of -60.13 and a beta of 0.88. Altus Power has a fifty-two week low of $4.08 and a fifty-two week high of $7.28. The company has a debt-to-equity ratio of 2.33, a current ratio of 2.15 and a quick ratio of 2.15.

Altus Power (NYSE:AMPS) last announced its quarterly earnings data on Thursday, March 14th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The business had revenue of $34.19 million for the quarter, compared to the consensus estimate of $42.85 million. Altus Power had a negative return on equity of 0.30% and a negative net margin of 6.03%. Equities analysts expect that Altus Power will post -0.09 earnings per share for the current fiscal year.

Insider Activity at Altus Power

In other Altus Power news, CEO Lars Norell sold 40,000 shares of Altus Power stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $5.58, for a total transaction of $223,200.00. Following the transaction, the chief executive officer now directly owns 21,654,907 shares of the company’s stock, valued at approximately $120,834,381.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Anthony Savino sold 34,725 shares of the stock in a transaction on Wednesday, February 14th. The shares were 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 in the company, valued at $27,430,902.72. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Lars Norell sold 40,000 shares of Altus Power stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $5.58, for a total transaction of $223,200.00. Following the transaction, the chief executive officer now directly owns 21,654,907 shares of the company’s stock, valued at approximately $120,834,381.06. The disclosure for this sale can be found here. Insiders sold 83,673 shares of company stock worth $530,948 over the last three months. Company insiders own 31.55% of the company’s stock.

Institutional Trading of Altus Power

A number of institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. acquired a new position in Altus Power in the first quarter valued at approximately $39,000. Bank of New York Mellon Corp acquired a new position in shares of Altus Power during the 1st quarter valued at $107,000. Oppenheimer & Co. Inc. boosted its stake in Altus Power by 33.3% during the first quarter. Oppenheimer & Co. Inc. now owns 20,000 shares of the company’s stock worth $149,000 after acquiring an additional 5,000 shares in the last quarter. Citigroup Inc. acquired a new stake in Altus Power in the first quarter worth $67,000. Finally, Vanguard Group Inc. bought a new stake in Altus Power in the first quarter valued at $12,973,000. 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.