Altus Power (NYSE:AMPS) Stock Rating Lowered by B. Riley

Altus Power (NYSE:AMPS) was downgraded by stock analysts at B. Riley from a “buy” rating to a “neutral” rating in a research note issued on Friday,Briefing.com Automated Import reports. They presently have a $5.00 price objective on the stock, down from their prior price objective of $6.00. B. Riley’s target price suggests a potential upside of 2.56% from the company’s current price.

AMPS has been the topic of several other research reports. Roth Mkm reaffirmed a “buy” rating and set a $4.50 target price on shares of Altus Power in a research note on Wednesday, October 16th. JPMorgan Chase & Co. upgraded shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a research report on Thursday. Finally, Citigroup cut their price objective on shares of Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Altus Power has an average rating of “Moderate Buy” and a consensus target price of $5.06.

Altus Power Stock Performance

NYSE AMPS opened at $4.88 on Friday. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.60 and a quick ratio of 0.60. Altus Power has a 1-year low of $2.71 and a 1-year high of $7.28. The company has a market cap of $783.90 million, a PE ratio of 22.16 and a beta of 1.05. The stock’s 50 day simple moving average is $3.97 and its 200-day simple moving average is $3.63.

Institutional Trading of Altus Power

Several hedge funds have recently made changes to their positions in AMPS. XTX Topco Ltd acquired a new position in Altus Power in the third quarter valued at approximately $425,000. abrdn plc raised its position in Altus Power by 8.7% in the third quarter. abrdn plc now owns 1,444,400 shares of the company’s stock valued at $4,593,000 after purchasing an additional 115,300 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Altus Power in the 3rd quarter valued at $286,000. Barclays PLC grew its holdings in shares of Altus Power by 312.8% during the 3rd quarter. Barclays PLC now owns 115,987 shares of the company’s stock worth $369,000 after purchasing an additional 87,886 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Altus Power by 48.1% during the 4th quarter. Bank of New York Mellon Corp now owns 267,220 shares of the company’s stock worth $1,088,000 after purchasing an additional 86,797 shares during the last quarter. Hedge funds and other 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.