Altus Power (NYSE:AMPS) Cut to Hold at Seaport Res Ptn

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

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. raised shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a report on Thursday. Citigroup dropped their price objective on Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a report on Tuesday, October 22nd. B. Riley cut Altus Power from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $6.00 to $5.00 in a report on Friday. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $4.50 price target on shares of Altus Power in a research note on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $5.06.

Altus Power Stock Performance

Altus Power stock opened at $4.87 on Thursday. Altus Power has a 1 year low of $2.71 and a 1 year high of $7.28. The company’s 50-day moving average is $3.98 and its two-hundred day moving average is $3.64. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.10. The company has a market cap of $782.29 million, a PE ratio of 22.11 and a beta of 1.05.

Institutional Trading of Altus Power

Hedge funds have recently bought and sold shares of the stock. Magnus Financial Group LLC acquired a new stake in shares of Altus Power during the fourth quarter worth $333,000. Ballentine Partners LLC bought a new position in shares of Altus Power during the fourth quarter worth about $112,000. Barclays PLC raised its position in Altus Power by 312.8% in the 3rd quarter. Barclays PLC now owns 115,987 shares of the company’s stock valued at $369,000 after buying an additional 87,886 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Altus Power by 798.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 73,508 shares of the company’s stock valued at $234,000 after acquiring an additional 65,327 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in Altus Power during the 3rd quarter worth approximately $425,000. 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.