Altus Power (NYSE:AMPS) Trading 3.4% Higher

Altus Power, Inc. (NYSE:AMPS) shot up 3.4% on Tuesday . The company traded as high as $4.00 and last traded at $3.98. 256,436 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 1,139,974 shares. The stock had previously closed at $3.85.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AMPS shares. Roth Mkm dropped their target price on shares of Altus Power from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, May 16th. B. Riley decreased their target price on Altus Power from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Morgan Stanley reissued an “overweight” rating and set a $9.00 price target on shares of Altus Power in a research report on Thursday, April 11th. Evercore ISI decreased their price objective on shares of Altus Power from $9.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday, May 15th. Finally, JPMorgan Chase & Co. lowered shares of Altus Power from an “overweight” rating to a “neutral” rating in a research note on Wednesday, May 15th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $7.50.

Altus Power Stock Up 6.7 %

The stock has a 50-day moving average of $4.32 and a 200-day moving average of $5.40. The company has a debt-to-equity ratio of 2.47, a quick ratio of 1.48 and a current ratio of 1.48.

Altus Power (NYSE:AMPS) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). The company had revenue of $40.66 million during the quarter, compared to the consensus estimate of $39.13 million. Altus Power had a negative net margin of 4.48% and a negative return on equity of 1.37%. During the same quarter in the previous year, the company posted ($0.05) earnings per share. Equities analysts expect that Altus Power, Inc. will post 0.13 EPS for the current fiscal year.

Insider Activity

In other Altus Power news, CEO Gregg J. Felton purchased 12,500 shares of Altus Power stock in a transaction on Thursday, March 28th. The stock was bought at an average price of $4.78 per share, for a total transaction of $59,750.00. Following the transaction, the chief executive officer now owns 11,894,603 shares of the company’s stock, valued at approximately $56,856,202.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 24.30% of the company’s stock.

Institutional Investors Weigh In On Altus Power

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Spinnaker Trust bought a new position in shares of Altus Power during the 4th quarter valued at about $69,000. Allspring Global Investments Holdings LLC lifted its stake in Altus Power by 196.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 13,319 shares of the company’s stock valued at $70,000 after purchasing an additional 8,826 shares during the last quarter. Victory Capital Management Inc. bought a new stake in Altus Power during the fourth quarter worth approximately $72,000. Tower Research Capital LLC TRC grew its position in Altus Power by 805.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,193 shares of the company’s stock worth $76,000 after buying an additional 9,957 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Altus Power in the first quarter valued at $88,000. 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.