Altus Power, Inc. (NYSE:AMPS) Receives Consensus Rating of “Buy” from Brokerages

Shares of Altus Power, Inc. (NYSE:AMPS) have been given an average rating of “Buy” by the nine analysts that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $6.00.

A number of research analysts have weighed in on AMPS shares. Roth Mkm lowered their target price on Altus Power from $5.00 to $4.50 and set a “buy” rating on the stock in a report on Friday, August 9th. UBS Group lowered their price target on Altus Power from $5.50 to $5.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Seaport Res Ptn raised shares of Altus Power to a “strong-buy” rating in a report on Monday, June 3rd. B. Riley upgraded Altus Power to a “strong-buy” rating in a research report on Tuesday, June 25th. Finally, JPMorgan Chase & Co. lowered Altus Power from an “overweight” rating to a “neutral” rating in a research report on Wednesday, May 15th.

Institutional Trading of Altus Power

Several institutional investors and hedge funds have recently made changes to their positions in AMPS. Summit Securities Group LLC bought a new position in Altus Power during the 2nd quarter worth about $39,000. Vaughan David Investments LLC IL purchased a new stake in Altus Power in the second quarter valued at $55,000. Susquehanna Fundamental Investments LLC acquired a new stake in Altus Power during the second quarter worth about $68,000. Victory Capital Management Inc. acquired a new stake in shares of Altus Power during the 4th quarter worth approximately $72,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Altus Power during the first quarter valued at $88,000. 46.55% of the stock is currently owned by institutional investors.

Altus Power Trading Down 1.0 %

NYSE:AMPS opened at $3.10 on Friday. The stock has a market cap of $498.08 million, a price-to-earnings ratio of -62.00 and a beta of 1.00. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 2.18. The company’s 50 day moving average price is $3.67 and its 200-day moving average price is $4.35. Altus Power has a 52 week low of $2.80 and a 52 week high of $7.28.

Altus Power (NYSE:AMPS) last issued its earnings results on Thursday, August 8th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.13. The business had revenue of $52.46 million during the quarter, compared to analyst estimates of $57.61 million. Altus Power had a return on equity of 2.52% and a net margin of 13.55%. On average, equities research analysts forecast that Altus Power will post 0.08 earnings per share for the current fiscal year.

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.