Altus Power (NYSE:AMPS) Stock Rating Lowered by Seaport Res Ptn

Altus Power (NYSE:AMPS) was downgraded by research analysts at Seaport Res Ptn from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. B. Riley cut shares of Altus Power from a “buy” rating to a “neutral” rating and reduced their target price for the company from $6.00 to $5.00 in a research note on Friday. Citigroup decreased their price objective on Altus Power from $7.00 to $5.50 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. JPMorgan Chase & Co. upgraded Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a research note on Thursday. Finally, Roth Mkm reiterated a “buy” rating and set a $4.50 price target on shares of Altus Power in a research note on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $5.06.

Altus Power Price Performance

NYSE:AMPS opened at $4.87 on Thursday. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.60 and a quick ratio of 0.60. Altus Power has a one year low of $2.71 and a one year high of $7.28. The company has a fifty day moving average price of $3.98 and a 200 day moving average price of $3.64. The stock has a market cap of $782.29 million, a P/E ratio of 22.11 and a beta of 1.05.

Institutional Investors Weigh In On Altus Power

Large investors have recently made changes to their positions in the company. State Street Corp boosted its position in Altus Power by 0.6% in the third quarter. State Street Corp now owns 3,682,864 shares of the company’s stock valued at $11,712,000 after buying an additional 21,312 shares in the last quarter. abrdn plc grew its position in Altus Power by 7.3% during the 4th quarter. abrdn plc now owns 1,550,200 shares of the company’s stock worth $6,418,000 after acquiring an additional 105,800 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Altus Power by 4.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 312,205 shares of the company’s stock valued at $993,000 after purchasing an additional 14,492 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Altus Power by 48.1% in the fourth quarter. Bank of New York Mellon Corp now owns 267,220 shares of the company’s stock worth $1,088,000 after purchasing an additional 86,797 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Altus Power in the third quarter valued at $425,000. Institutional investors 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.