Analysts Set Altus Power, Inc. (NYSE:AMPS) Target Price at $5.06

Altus Power, Inc. (NYSE:AMPS) has earned an average recommendation of “Hold” from the nine ratings firms that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $5.06.

A number of research firms have recently weighed in on AMPS. B. Riley downgraded shares of Altus Power from a “buy” rating to a “neutral” rating and dropped their price target for the company from $6.00 to $5.00 in a research report on Friday, February 7th. JPMorgan Chase & Co. upgraded shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a research report on Thursday, February 6th. UBS Group downgraded shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 price target for the company. in a research report on Monday, February 10th. Finally, Seaport Res Ptn downgraded shares of Altus Power from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th.

Insider Buying and Selling at Altus Power

In other Altus Power news, CEO Gregg J. Felton sold 71,161 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total transaction of $349,400.51. Following the sale, the chief executive officer now owns 4,023,696 shares of the company’s stock, valued at approximately $19,756,347.36. The trade was a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Anthony Savino sold 8,823 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total transaction of $43,320.93. Following the sale, the insider now directly owns 4,088,231 shares in the company, valued at approximately $20,073,214.21. The trade was a 0.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,146 shares of company stock worth $437,707 over the last three months. Corporate insiders own 24.30% of the company’s stock.

Institutional Trading of Altus Power

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Altus Power by 27.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 385,699 shares of the company’s stock worth $1,570,000 after buying an additional 83,911 shares during the last quarter. Squarepoint Ops LLC grew its stake in shares of Altus Power by 51.3% in the fourth quarter. Squarepoint Ops LLC now owns 107,859 shares of the company’s stock worth $439,000 after purchasing an additional 36,550 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Altus Power by 11.5% in the fourth quarter. ProShare Advisors LLC now owns 49,869 shares of the company’s stock worth $203,000 after purchasing an additional 5,143 shares during the last quarter. Millennium Management LLC grew its stake in shares of Altus Power by 148.3% in the fourth quarter. Millennium Management LLC now owns 652,278 shares of the company’s stock worth $2,655,000 after purchasing an additional 389,605 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Altus Power by 13.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,121 shares of the company’s stock worth $249,000 after purchasing an additional 7,428 shares during the last quarter. Institutional investors own 46.55% of the company’s stock.

Altus Power Trading Up 0.1 %

Shares of AMPS stock opened at $4.95 on Tuesday. The firm has a 50 day moving average price of $4.51 and a two-hundred day moving average price of $3.93. 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 market capitalization of $795.14 million, a PE ratio of 22.48 and a beta of 0.98. Altus Power has a 12-month low of $2.71 and a 12-month high of $5.50.

Altus Power (NYSE:AMPS) last issued its quarterly earnings data on Monday, March 17th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.28). The company had revenue of $44.47 million for the quarter, compared to analyst estimates of $46.64 million. Altus Power had a return on equity of 4.79% and a net margin of 19.18%. As a group, analysts predict that Altus Power will post 0.14 earnings per share for the current year.

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.