Altus Power (NYSE:AMPS) Downgraded by Roth Capital to “Hold”

Altus Power (NYSE:AMPS) was downgraded by stock analysts at Roth Capital from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. JPMorgan Chase & Co. upgraded shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a research report on Thursday, February 6th. Roth Mkm restated a “neutral” rating and issued a $5.00 target price on shares of Altus Power in a research report on Friday. B. Riley cut shares of Altus Power from a “buy” rating to a “neutral” rating and dropped their target price for the company from $6.00 to $5.00 in a research report on Friday, February 7th. Seaport Res Ptn cut shares of Altus Power from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, UBS Group cut shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 target price for the company. in a research report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.13.

Altus Power Stock Performance

NYSE AMPS opened at $4.95 on Thursday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10. The company has a market capitalization of $795.14 million, a P/E ratio of 22.48 and a beta of 0.98. Altus Power has a 12-month low of $2.71 and a 12-month high of $5.50. The firm has a 50-day moving average price of $4.52 and a two-hundred day moving average price of $3.94.

Altus Power (NYSE:AMPS) last issued its earnings results on Monday, March 17th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.28). The firm had revenue of $44.47 million during the quarter, compared to analyst estimates of $46.64 million. Altus Power had a net margin of 19.18% and a return on equity of 4.79%. Analysts anticipate that Altus Power will post 0.14 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Dustin Weber sold 9,162 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total transaction of $44,985.42. Following the sale, the chief financial officer now owns 2,002,611 shares in the company, valued at $9,832,820.01. The trade was a 0.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Anthony Savino sold 8,823 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total value of $43,320.93. Following the sale, the insider now owns 4,088,231 shares in the company, valued at $20,073,214.21. This represents a 0.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,146 shares of company stock worth $437,707 in the last 90 days. Insiders own 24.30% of the company’s stock.

Institutional Investors Weigh In On Altus Power

Hedge funds and other institutional investors have recently bought and sold shares of the company. US Bancorp DE grew its position in Altus Power by 11,326.2% during the 4th quarter. US Bancorp DE now owns 9,598 shares of the company’s stock worth $39,000 after acquiring an additional 9,514 shares during the last quarter. HighTower Advisors LLC bought a new stake in shares of Altus Power in the 3rd quarter valued at about $41,000. Citizens Financial Group Inc. RI bought a new stake in shares of Altus Power in the 4th quarter valued at about $41,000. SevenBridge Financial Group LLC bought a new stake in shares of Altus Power in the 4th quarter valued at about $41,000. Finally, One68 Global Capital LLC bought a new stake in shares of Altus Power in the 4th quarter valued at about $41,000. 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.