Altus Power (NYSE:AMPS) Stock Price Down 4.9% – Time to Sell?

Altus Power, Inc. (NYSE:AMPS) shares fell 4.9% on Monday . The stock traded as low as $4.09 and last traded at $4.11. 111,268 shares were traded during trading, a decline of 90% from the average session volume of 1,070,788 shares. The stock had previously closed at $4.32.

Wall Street Analyst Weigh In

A number of brokerages have commented on AMPS. Maxim Group decreased their price objective on Altus Power from $5.50 to $4.50 and set a “buy” rating for the company in a report on Monday, August 12th. UBS Group decreased their price objective on shares of Altus Power from $5.50 to $5.00 and set a “buy” rating for the company in a report on Friday, August 9th. Citigroup decreased their price target on shares of Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Morgan Stanley cut Altus Power from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $8.00 to $4.00 in a research report on Wednesday, August 21st. Finally, Roth Mkm restated a “buy” rating and issued a $4.50 price objective on shares of Altus Power in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Altus Power has a consensus rating of “Buy” and an average price target of $5.21.

Altus Power Stock Performance

The stock has a market capitalization of $657.66 million, a P/E ratio of 19.86 and a beta of 0.94. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10. The company has a 50-day moving average price of $3.52 and a two-hundred day moving average price of $3.68.

Institutional Trading of Altus Power

Several institutional investors and hedge funds have recently bought and sold shares of AMPS. Franklin Resources Inc. grew its position in shares of Altus Power by 47.2% during the 3rd quarter. Franklin Resources Inc. now owns 51,035 shares of the company’s stock valued at $161,000 after purchasing an additional 16,370 shares in the last quarter. Barclays PLC increased its holdings in shares of Altus Power by 312.8% in the 3rd quarter. Barclays PLC now owns 115,987 shares of the company’s stock worth $369,000 after buying an additional 87,886 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Altus Power during the 3rd quarter valued at $425,000. State Street Corp lifted its holdings in shares of Altus Power by 0.6% during the 3rd quarter. State Street Corp now owns 3,682,864 shares of the company’s stock worth $11,712,000 after acquiring an additional 21,312 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in Altus Power by 9.0% in the third quarter. Janus Henderson Group PLC now owns 44,792 shares of the company’s stock valued at $142,000 after acquiring an additional 3,709 shares during the last quarter. 46.55% of the stock is currently owned by hedge funds and other institutional investors.

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.