Altus Power (AMPS) – Research Analysts’ Recent Ratings Updates

Altus Power (NYSE: AMPS) has recently received a number of price target changes and ratings updates:

  • 6/3/2024 – Altus Power was upgraded by analysts at Seaport Res Ptn to a “strong-buy” rating.
  • 5/16/2024 – Altus Power had its price target lowered by analysts at Roth Mkm from $7.00 to $5.00. They now have a “buy” rating on the stock.
  • 5/15/2024 – Altus Power had its price target lowered by analysts at Evercore ISI from $9.00 to $7.00. They now have an “outperform” rating on the stock.
  • 5/15/2024 – Altus Power was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating.
  • 5/15/2024 – Altus Power had its price target lowered by analysts at B. Riley from $7.00 to $6.00. They now have a “buy” rating on the stock.
  • 4/30/2024 – Altus Power had its “buy” rating reaffirmed by analysts at Roth Mkm. They now have a $7.00 price target on the stock.
  • 4/22/2024 – Altus Power had its price target lowered by analysts at B. Riley from $10.00 to $7.00. They now have a “buy” rating on the stock.
  • 4/11/2024 – Altus Power had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $9.00 price target on the stock.
  • 4/10/2024 – Altus Power is now covered by analysts at Maxim Group. They set a “buy” rating and a $7.00 price target on the stock.

Altus Power Price Performance

Shares of NYSE AMPS traded up $0.17 during midday trading on Wednesday, reaching $4.23. 609,216 shares of the stock traded hands, compared to its average volume of 1,151,994. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.48 and a quick ratio of 1.48. The stock has a market capitalization of $679.63 million, a PE ratio of -84.58 and a beta of 1.01. Altus Power, Inc. has a one year low of $3.40 and a one year high of $7.28. The company’s 50 day moving average is $4.17 and its 200 day moving average is $5.32.

Altus Power (NYSE:AMPSGet Free Report) last posted its earnings results on Thursday, May 9th. The company reported ($0.08) EPS for the quarter, meeting analysts’ consensus estimates of ($0.08). Altus Power had a negative return on equity of 1.37% and a negative net margin of 4.48%. The firm had revenue of $40.66 million during the quarter, compared to the consensus estimate of $39.13 million. During the same period in the prior year, the company earned ($0.05) EPS. On average, equities research analysts anticipate that Altus Power, Inc. will post 0.13 earnings per share for the current year.

Insider Activity at Altus Power

In other Altus Power news, CEO Gregg J. Felton bought 82,576 shares of Altus Power stock in a transaction on Friday, May 31st. The shares were acquired at an average price of $3.90 per share, for a total transaction of $322,046.40. Following the completion of the purchase, the chief executive officer now directly owns 11,977,179 shares in the company, valued at approximately $46,710,998.10. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Gregg J. Felton purchased 12,500 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were acquired at an average price of $4.78 per share, with a total value of $59,750.00. Following the transaction, the chief executive officer now owns 11,894,603 shares of the company’s stock, valued at $56,856,202.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Gregg J. Felton purchased 82,576 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were purchased at an average cost of $3.90 per share, for a total transaction of $322,046.40. Following 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. 24.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Altus Power

Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its holdings in Altus Power by 2.5% in the third quarter. Bank of New York Mellon Corp now owns 202,360 shares of the company’s stock worth $1,062,000 after acquiring an additional 4,864 shares in the last quarter. Great Lakes Advisors LLC acquired a new stake in Altus Power in the third quarter worth about $127,000. Skandinaviska Enskilda Banken AB publ boosted its holdings in Altus Power by 2.0% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 678,732 shares of the company’s stock worth $3,563,000 after acquiring an additional 13,500 shares in the last quarter. ANTIPODES PARTNERS Ltd boosted its holdings in Altus Power by 292.1% in the third quarter. ANTIPODES PARTNERS Ltd now owns 25,503 shares of the company’s stock worth $127,000 after acquiring an additional 18,999 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new stake in Altus Power in the third quarter worth about $288,000. Institutional investors own 46.55% of the company’s stock.

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.

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