Altus Power, Inc. (NYSE:AMPS) Given Consensus Rating of “Hold” by Analysts

Shares of Altus Power, Inc. (NYSE:AMPS) have been given a consensus rating of “Hold” by the nine ratings firms that are presently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $5.06.

AMPS has been the subject of several recent analyst reports. B. Riley cut shares of Altus Power from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $6.00 to $5.00 in a research note on Friday, February 7th. JPMorgan Chase & Co. raised shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a research note on Thursday, February 6th. Seaport Res Ptn cut shares of Altus Power from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, UBS Group cut shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 price objective for the company. in a research note on Monday, February 10th.

Insider Transactions at Altus Power

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

Institutional Investors Weigh In On Altus Power

Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC raised its holdings in Altus Power by 135.9% during the 3rd quarter. SG Americas Securities LLC now owns 30,146 shares of the company’s stock valued at $96,000 after buying an additional 17,368 shares during the last quarter. abrdn plc raised its holdings in Altus Power by 8.7% during the 3rd quarter. abrdn plc now owns 1,444,400 shares of the company’s stock valued at $4,593,000 after buying an additional 115,300 shares during the last quarter. Iridian Asset Management LLC CT bought a new stake in Altus Power during the 3rd quarter valued at $40,000. HTG Investment Advisors Inc. raised its holdings in Altus Power by 8.6% during the 3rd quarter. HTG Investment Advisors Inc. now owns 65,148 shares of the company’s stock valued at $207,000 after buying an additional 5,148 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Altus Power during the 3rd quarter valued at $286,000. 46.55% of the stock is currently owned by institutional investors.

Altus Power Price Performance

Shares of NYSE:AMPS opened at $4.93 on Friday. The company has a 50 day moving average of $4.22 and a 200 day moving average of $3.71. The stock has a market cap of $791.92 million, a P/E ratio of 22.39 and a beta of 1.05. Altus Power has a 12 month low of $2.71 and a 12 month high of $7.01. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.10.

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.