Altus Power (NYSE:AMPS) Trading Down 4.9%

Shares of Altus Power, Inc. (NYSE:AMPS) fell 4.9% during mid-day trading on Monday . The stock traded as low as $4.28 and last traded at $4.28. 42,871 shares were traded during mid-day trading, a decline of 96% from the average session volume of 1,103,008 shares. The stock had previously closed at $4.50.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AMPS. Roth Mkm lowered their price target on shares of Altus Power from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, May 16th. JPMorgan Chase & Co. lowered shares of Altus Power from an “overweight” rating to a “neutral” rating in a research note on Wednesday, May 15th. Maxim Group began coverage on shares of Altus Power in a research note on Wednesday, April 10th. They issued a “buy” rating and a $7.00 price target on the stock. Evercore ISI lowered their price target on shares of Altus Power from $9.00 to $7.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 15th. Finally, B. Riley upgraded shares of Altus Power to a “strong-buy” rating in a research note on Tuesday, June 25th. One analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $7.50.

Altus Power Trading Down 4.0 %

The firm’s 50 day moving average price is $4.16 and its two-hundred day moving average price is $5.02. 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) EPS for the quarter, meeting analysts’ consensus estimates of ($0.08). Altus Power had a negative net margin of 4.48% and a negative return on equity of 1.37%. The business had revenue of $40.66 million for the quarter, compared to analyst estimates of $39.13 million. During the same quarter in the prior year, the business earned ($0.05) EPS. Research analysts expect that Altus Power, Inc. will post -0.07 EPS for the current fiscal year.

Insider Activity at Altus Power

In other Altus Power news, CEO Gregg J. Felton acquired 82,576 shares of the business’s stock in a transaction on Friday, May 31st. The stock was purchased at an average price of $3.90 per share, with a total value of $322,046.40. Following the acquisition, the chief executive officer now directly owns 11,977,179 shares of the company’s stock, valued at approximately $46,710,998.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Altus Power news, CEO Gregg J. Felton acquired 34,139 shares of the business’s stock in a transaction on Friday, June 7th. The stock was purchased at an average price of $3.99 per share, with a total value of $136,214.61. Following the acquisition, the chief executive officer now directly owns 12,044,603 shares of the company’s stock, valued at approximately $48,057,965.97. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gregg J. Felton purchased 82,576 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were purchased at an average cost of $3.90 per share, with a total value of $322,046.40. Following the acquisition, the chief executive officer now owns 11,977,179 shares in the company, valued at approximately $46,710,998.10. The disclosure for this purchase can be found here. 24.30% of the stock is owned by company insiders.

Institutional Trading of Altus Power

A number of institutional investors and hedge funds have recently made changes to their positions in AMPS. Spinnaker Trust bought a new stake in shares of Altus Power during the 4th quarter worth approximately $69,000. Victory Capital Management Inc. bought a new position in Altus Power in the 4th quarter valued at approximately $72,000. Tower Research Capital LLC TRC lifted its stake in Altus Power by 805.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,193 shares of the company’s stock valued at $76,000 after purchasing an additional 9,957 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Altus Power in the 1st quarter valued at approximately $88,000. Finally, Levin Capital Strategies L.P. acquired a new position in Altus Power in the 1st quarter valued at approximately $143,000. 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.