Altus Power (NYSE:AMPS) Rating Lowered to “Hold” at Seaport Res Ptn

Altus Power (NYSE:AMPS) was downgraded by research analysts at Seaport Res Ptn from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

Several other brokerages also recently weighed in on AMPS. Roth Mkm reiterated a “buy” rating and issued a $4.50 price objective on shares of Altus Power in a research report on Wednesday, October 16th. B. Riley cut Altus Power from a “buy” rating to a “neutral” rating and lowered their target price for the company from $6.00 to $5.00 in a research report on Friday. Citigroup reduced their price target on Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. upgraded shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a research note on Thursday. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Altus Power has an average rating of “Moderate Buy” and a consensus target price of $5.06.

Altus Power Price Performance

AMPS opened at $4.87 on Thursday. The firm has a market cap of $782.29 million, a price-to-earnings ratio of 22.11 and a beta of 1.05. The company’s 50-day moving average price is $3.98 and its 200 day moving average price is $3.64. Altus Power has a fifty-two week low of $2.71 and a fifty-two week high of $7.28. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10.

Institutional Trading of Altus Power

Several institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC raised its position in Altus Power by 9.0% in the 3rd quarter. Janus Henderson Group PLC now owns 44,792 shares of the company’s stock valued at $142,000 after purchasing an additional 3,709 shares during the last quarter. HTG Investment Advisors Inc. grew its stake in shares of Altus Power by 8.6% during the third quarter. HTG Investment Advisors Inc. now owns 65,148 shares of the company’s stock valued at $207,000 after purchasing an additional 5,148 shares during the last quarter. SG Americas Securities LLC raised its position in Altus Power by 19.6% in the 4th quarter. SG Americas Securities LLC now owns 36,058 shares of the company’s stock worth $147,000 after purchasing an additional 5,912 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Altus Power by 24.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,771 shares of the company’s stock valued at $125,000 after buying an additional 6,209 shares during the period. Finally, US Bancorp DE boosted its holdings in Altus Power by 11,326.2% in the fourth quarter. US Bancorp DE now owns 9,598 shares of the company’s stock valued at $39,000 after acquiring an additional 9,514 shares during the last quarter. Institutional investors and hedge funds 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.