Brokerages Set Altus Power, Inc. (NYSE:AMPS) Price Target at $7.50

Altus Power, Inc. (NYSE:AMPS) has been assigned an average rating of “Buy” from the nine brokerages that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $7.50.

AMPS has been the subject of a number of analyst reports. Morgan Stanley reissued an “overweight” rating and set a $9.00 target price on shares of Altus Power in a research report on Thursday, April 11th. Roth Mkm lowered their price objective on Altus Power from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, May 16th. Seaport Res Ptn raised Altus Power to a “strong-buy” rating in a research report on Monday, June 3rd. Evercore ISI lowered their price target on 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 Altus Power from an “overweight” rating to a “neutral” rating in a research note on Wednesday, May 15th.

Insider Buying and Selling

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

Institutional Investors Weigh In On Altus Power

Several hedge funds have recently bought and sold shares of the stock. Edmond DE Rothschild Holding S.A. lifted its stake in shares of Altus Power by 1.0% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 310,000 shares of the company’s stock valued at $2,117,000 after purchasing an additional 3,000 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Altus Power by 7.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 44,257 shares of the company’s stock worth $212,000 after acquiring an additional 3,116 shares during the period. Bouvel Investment Partners LLC boosted its stake in shares of Altus Power by 1.5% during the 4th quarter. Bouvel Investment Partners LLC now owns 297,378 shares of the company’s stock worth $2,031,000 after acquiring an additional 4,495 shares in the last quarter. ANTIPODES PARTNERS Ltd grew its position in shares of Altus Power by 18.0% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 30,082 shares of the company’s stock valued at $205,000 after acquiring an additional 4,579 shares during the period. Finally, Olympiad Research LP increased its stake in shares of Altus Power by 8.2% in the 4th quarter. Olympiad Research LP now owns 62,704 shares of the company’s stock valued at $428,000 after purchasing an additional 4,726 shares in the last quarter. Hedge funds and other institutional investors own 46.55% of the company’s stock.

Altus Power Trading Down 3.4 %

AMPS opened at $4.39 on Thursday. Altus Power has a 12 month low of $3.40 and a 12 month high of $7.28. The stock has a fifty day moving average price of $4.15 and a 200-day moving average price of $4.98. The firm has a market cap of $704.54 million, a price-to-earnings ratio of -87.68 and a beta of 1.00. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.47.

Altus Power (NYSE:AMPS) last announced its earnings results on Thursday, May 9th. The company reported ($0.08) EPS for the quarter, hitting 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 during the quarter, compared to the consensus estimate of $39.13 million. During the same period in the previous year, the company posted ($0.05) earnings per share. As a group, equities research analysts anticipate that Altus Power will post -0.07 earnings per share for the current fiscal year.

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.