Roth Mkm Reaffirms “Neutral” Rating for Altus Power (NYSE:AMPS)

Altus Power (NYSE:AMPS)‘s stock had its “neutral” rating reaffirmed by analysts at Roth Mkm in a report issued on Friday,Benzinga reports. They presently have a $5.00 price objective on the stock. Roth Mkm’s price objective points to a potential upside of 1.11% from the stock’s previous close.

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

Altus Power Stock Up 0.1 %

Shares of AMPS stock traded up $0.01 on Friday, hitting $4.95. The stock had a trading volume of 176,586 shares, compared to its average volume of 1,533,484. Altus Power has a one year low of $2.71 and a one year high of $5.50. The business has a 50 day moving average price of $4.51 and a 200 day moving average price of $3.93. The company has a market cap of $795.14 million, a PE ratio of 22.48 and a beta of 0.98. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10.

Altus Power (NYSE:AMPS) last posted its quarterly earnings results on Monday, March 17th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.28). The business had revenue of $44.47 million during the quarter, compared to the consensus estimate of $46.64 million. Altus Power had a net margin of 19.18% and a return on equity of 4.79%. Research analysts anticipate that Altus Power will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Altus Power news, CFO Dustin Weber sold 9,162 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 value of $44,985.42. Following the sale, the chief financial officer now owns 2,002,611 shares of the company’s stock, valued at $9,832,820.01. The trade was a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gregg J. Felton sold 71,161 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total value of $349,400.51. Following the transaction, the chief executive officer now owns 4,023,696 shares of the company’s stock, valued at approximately $19,756,347.36. This represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 89,146 shares of company stock worth $437,707. Company insiders own 24.30% of the company’s stock.

Institutional Trading of Altus Power

Several hedge funds have recently modified their holdings of the stock. US Bancorp DE grew its position in shares of Altus Power by 11,326.2% during the fourth quarter. US Bancorp DE now owns 9,598 shares of the company’s stock worth $39,000 after buying an additional 9,514 shares in the last quarter. SevenBridge Financial Group LLC acquired a new position in Altus Power in the fourth quarter valued at $41,000. One68 Global Capital LLC purchased a new position in shares of Altus Power during the fourth quarter worth about $41,000. Citizens Financial Group Inc. RI purchased a new stake in shares of Altus Power in the 4th quarter valued at about $41,000. Finally, Bayesian Capital Management LP acquired a new stake in shares of Altus Power in the 4th quarter valued at about $44,000. 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.