Altus Power (NYSE:AMPS) Stock Rating Lowered by Roth Capital

Roth Capital downgraded shares of Altus Power (NYSE:AMPS) from a strong-buy rating to a hold rating in a research report released on Thursday,Zacks.com reports.

AMPS has been the subject of a number of other reports. B. Riley cut shares of Altus Power from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $6.00 to $5.00 in a research note on Friday, February 7th. Roth Mkm reiterated a “neutral” rating and issued a $5.00 target price on shares of Altus Power in a research report on Friday. UBS Group lowered shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 price target on the stock. in a research report on Monday, February 10th. Seaport Res Ptn cut Altus Power from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. raised Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a research note on Thursday, February 6th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.13.

Altus Power Stock Performance

Shares of NYSE AMPS opened at $4.95 on Thursday. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.60 and a quick ratio of 0.60. The firm has a fifty day moving average price of $4.52 and a 200-day moving average price of $3.94. The stock has a market cap of $795.14 million, a PE ratio of 22.48 and a beta of 0.98. Altus Power has a 1 year low of $2.71 and a 1 year high of $5.50.

Altus Power (NYSE:AMPS) last announced its earnings results on Monday, March 17th. The company reported ($0.32) earnings per share 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 analysts’ expectations of $46.64 million. Altus Power had a net margin of 19.18% and a return on equity of 4.79%. Equities analysts anticipate that Altus Power will post 0.14 earnings per share for the current fiscal year.

Insider Activity at Altus Power

In other news, CEO Gregg J. Felton sold 71,161 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total transaction of $349,400.51. Following the completion of the transaction, the chief executive officer now directly owns 4,023,696 shares in the company, valued at approximately $19,756,347.36. The trade was a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Anthony Savino sold 8,823 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total transaction of $43,320.93. Following the transaction, 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 valued at $437,707 over the last ninety days. Corporate insiders own 24.30% of the company’s stock.

Institutional Trading of Altus Power

Several institutional investors have recently made changes to their positions in the stock. Encompass Capital Advisors LLC boosted its holdings in Altus Power by 20.0% during the fourth quarter. Encompass Capital Advisors LLC now owns 8,027,318 shares of the company’s stock valued at $32,671,000 after acquiring an additional 1,336,044 shares during the period. State Street Corp boosted its holdings in Altus Power by 0.6% in the third quarter. State Street Corp now owns 3,682,864 shares of the company’s stock valued at $11,712,000 after acquiring an additional 21,312 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Altus Power by 7.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,648,599 shares of the company’s stock worth $14,850,000 after buying an additional 263,393 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Altus Power by 1.4% in the 4th quarter. Legal & General Group Plc now owns 1,905,722 shares of the company’s stock worth $7,756,000 after purchasing an additional 26,760 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Altus Power by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,564,740 shares of the company’s stock valued at $6,370,000 after acquiring an additional 10,450 shares during the last quarter. 46.55% of the stock is currently owned by institutional investors and hedge funds.

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.