Altus Power (NYSE:AMPS) Downgraded to “Neutral” Rating by B. Riley

Altus Power (NYSE:AMPS) was downgraded by equities researchers at B. Riley from a “buy” rating to a “neutral” rating in a report issued on Friday,Briefing.com Automated Import reports. They presently have a $5.00 target price on the stock, down from their previous target price of $6.00. B. Riley’s price objective suggests a potential upside of 2.56% from the stock’s current price.

A number of other research firms also recently commented on AMPS. JPMorgan Chase & Co. raised Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a report on Thursday. Roth Mkm restated a “buy” rating and set a $4.50 price objective on shares of Altus Power in a research note on Wednesday, October 16th. Finally, Citigroup cut their price objective on shares of Altus Power from $7.00 to $5.50 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $5.06.

Altus Power Stock Performance

Shares of AMPS stock opened at $4.88 on Friday. The business has a fifty day moving average of $3.97 and a 200 day moving average of $3.63. Altus Power has a 1 year low of $2.71 and a 1 year high of $7.28. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.60 and a quick ratio of 0.60. The firm has a market capitalization of $783.90 million, a price-to-earnings ratio of 22.16 and a beta of 1.05.

Institutional Trading of Altus Power

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMPS. Magnus Financial Group LLC purchased a new stake in shares of Altus Power during the 4th quarter worth about $333,000. Ballentine Partners LLC acquired a new position in Altus Power in the 4th quarter worth about $112,000. Barclays PLC boosted its position in Altus Power by 312.8% during the third quarter. Barclays PLC now owns 115,987 shares of the company’s stock worth $369,000 after purchasing an additional 87,886 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Altus Power by 798.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 73,508 shares of the company’s stock valued at $234,000 after purchasing an additional 65,327 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of Altus Power in the third quarter valued at approximately $425,000. Institutional investors and hedge funds own 46.55% of the company’s stock.

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.