Altus Power (NYSE:AMPS) Stock Price Up 5.5%

Altus Power, Inc. (NYSE:AMPS)’s share price shot up 5.5% on Thursday . The stock traded as high as $4.24 and last traded at $4.24. 221,098 shares were traded during trading, a decline of 80% from the average session volume of 1,122,792 shares. The stock had previously closed at $4.02.

Wall Street Analyst Weigh In

AMPS has been the subject of several recent research reports. Roth Mkm dropped their price target on shares of Altus Power from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, May 16th. Seaport Res Ptn raised Altus Power to a “strong-buy” rating in a research note on Monday, June 3rd. Evercore ISI dropped their price objective on Altus Power from $9.00 to $7.00 and set an “outperform” rating for the company in a research note on Wednesday, May 15th. Maxim Group assumed coverage on Altus Power in a report on Wednesday, April 10th. They set a “buy” rating and a $7.00 price objective for the company. Finally, B. Riley raised shares of Altus Power to a “strong-buy” rating in a report on Tuesday. One research analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $7.50.

Altus Power Stock Performance

The stock’s 50 day simple moving average is $4.10 and its two-hundred day simple moving average is $5.20. The company has a market capitalization of $629.83 million, a P/E ratio of -78.28 and a beta of 1.01. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.48 and a quick ratio of 1.48.

Altus Power (NYSE:AMPS) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). The firm had revenue of $40.66 million for the quarter, compared to the consensus estimate of $39.13 million. Altus Power had a negative return on equity of 1.37% and a negative net margin of 4.48%. During the same quarter in the prior year, the business earned ($0.05) EPS. As a group, research analysts expect that Altus Power, Inc. will post -0.07 earnings per share for the current year.

Insider Activity at Altus Power

In other Altus Power news, CEO Gregg J. Felton purchased 34,139 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was acquired at an average cost of $3.99 per share, with a total value of $136,214.61. Following the completion of the purchase, the chief executive officer now directly owns 12,044,603 shares in the company, valued at approximately $48,057,965.97. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Gregg J. Felton bought 34,139 shares of the stock in a transaction on Friday, June 7th. The stock was purchased at an average price of $3.99 per share, with a total value of $136,214.61. Following the completion of the purchase, the chief executive officer now owns 12,044,603 shares of the company’s stock, valued at $48,057,965.97. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Gregg J. Felton bought 82,576 shares of the business’s stock in a transaction on Friday, May 31st. The stock was purchased at an average price of $3.90 per share, for a total transaction of $322,046.40. Following the completion of the acquisition, the chief executive officer now owns 11,977,179 shares of the company’s stock, valued at approximately $46,710,998.10. The disclosure for this purchase can be found here. 24.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Altus Power by 12.8% during the third quarter. Vanguard Group Inc. now owns 3,871,155 shares of the company’s stock worth $20,324,000 after buying an additional 438,845 shares during the period. Swedbank AB bought a new stake in shares of Altus Power in the first quarter worth $12,589,000. Ardsley Advisory Partners LP boosted its holdings in Altus Power by 9.4% during the third quarter. Ardsley Advisory Partners LP now owns 1,125,000 shares of the company’s stock worth $5,906,000 after purchasing an additional 96,687 shares during the last quarter. Handelsbanken Fonder AB bought a new position in Altus Power in the fourth quarter valued at $5,298,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Altus Power in the 4th quarter valued at $3,671,000. 46.55% of the stock is owned by institutional investors and hedge funds.

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.