Altus Power (NYSE:AMPS) Given “Buy” Rating at Roth Mkm

Altus Power (NYSE:AMPS)‘s stock had its “buy” rating restated by equities researchers at Roth Mkm in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $7.00 price target on the stock. Roth Mkm’s target price indicates a potential upside of 81.58% from the stock’s previous close.

A number of other equities analysts also recently issued reports on AMPS. Maxim Group assumed coverage on shares of Altus Power in a report on Wednesday, April 10th. They issued a “buy” rating and a $7.00 price objective on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $9.00 price target on shares of Altus Power in a report on Thursday, April 11th. Finally, B. Riley lowered their price target on shares of Altus Power from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $8.25.

Altus Power Stock Performance

AMPS opened at $3.86 on Tuesday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 2.33. The company has a market cap of $613.26 million, a price-to-earnings ratio of -55.07 and a beta of 0.88. The company’s 50 day moving average is $5.08 and its 200 day moving average is $5.52. Altus Power has a 12-month low of $3.40 and a 12-month high of $7.28.

Altus Power (NYSE:AMPS) last posted its quarterly earnings data on Thursday, March 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The business had revenue of $34.19 million during the quarter, compared to analysts’ expectations of $42.85 million. Altus Power had a negative return on equity of 0.30% and a negative net margin of 6.03%. On average, equities research analysts predict that Altus Power will post -0.11 EPS for the current year.

Insider Activity

In other news, insider Anthony Savino sold 34,725 shares of Altus Power stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $7.02, for a total transaction of $243,769.50. Following the sale, the insider now owns 3,907,536 shares in the company, valued at $27,430,902.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Anthony Savino sold 34,725 shares of Altus Power stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $7.02, for a total transaction of $243,769.50. Following the sale, the insider now owns 3,907,536 shares in the company, valued at $27,430,902.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Dustin Weber sold 4,350 shares of Altus Power stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $7.15, for a total transaction of $31,102.50. Following the sale, the chief financial officer now owns 1,884,926 shares in the company, valued at approximately $13,477,220.90. The disclosure for this sale can be found here. Insiders have sold a total of 43,673 shares of company stock worth $307,748 over the last quarter. Insiders own 24.30% of the company’s stock.

Institutional Investors Weigh In On Altus Power

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Altus Power by 12.8% in the third quarter. Vanguard Group Inc. now owns 3,871,155 shares of the company’s stock worth $20,324,000 after purchasing an additional 438,845 shares during the last quarter. Ardsley Advisory Partners LP increased its position in Altus Power by 9.4% in 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 stake in Altus Power in the fourth quarter worth $5,298,000. Skandinaviska Enskilda Banken AB publ increased its position in Altus Power by 2.0% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 678,732 shares of the company’s stock worth $3,563,000 after purchasing an additional 13,500 shares during the last quarter. Finally, abrdn plc increased its position in Altus Power by 1,217.7% in the third quarter. abrdn plc now owns 619,300 shares of the company’s stock worth $3,251,000 after purchasing an additional 572,300 shares during the last quarter. Institutional investors own 46.55% of the company’s stock.

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.