Altus Power, Inc. (NYSE:AMPS) Receives Consensus Recommendation of “Hold” from Brokerages

Altus Power, Inc. (NYSE:AMPS) has earned a consensus recommendation of “Hold” from the nine research firms that are covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $5.06.

AMPS has been the topic of a number of analyst reports. Seaport Res Ptn cut Altus Power from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. raised shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a report on Thursday, February 6th. UBS Group cut shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 price objective for the company. in a research note on Monday, February 10th. Finally, B. Riley downgraded shares of Altus Power from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $6.00 to $5.00 in a research report on Friday, February 7th.

Altus Power Price Performance

NYSE AMPS opened at $4.94 on Friday. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.60 and a current ratio of 0.60. The business’s fifty day moving average is $4.15 and its 200 day moving average is $3.68. The company has a market capitalization of $793.55 million, a PE ratio of 22.43 and a beta of 1.05. Altus Power has a fifty-two week low of $2.71 and a fifty-two week high of $7.07.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Altus Power by 27.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 385,699 shares of the company’s stock valued at $1,570,000 after buying an additional 83,911 shares during the last quarter. Squarepoint Ops LLC raised its holdings in shares of Altus Power by 51.3% during the 4th quarter. Squarepoint Ops LLC now owns 107,859 shares of the company’s stock worth $439,000 after acquiring an additional 36,550 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Altus Power by 11.5% during the 4th quarter. ProShare Advisors LLC now owns 49,869 shares of the company’s stock valued at $203,000 after acquiring an additional 5,143 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Altus Power by 148.3% in the fourth quarter. Millennium Management LLC now owns 652,278 shares of the company’s stock valued at $2,655,000 after purchasing an additional 389,605 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Altus Power by 13.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,121 shares of the company’s stock worth $249,000 after purchasing an additional 7,428 shares during the last quarter. Hedge funds and other 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.