Altus Power’s (AMPS) “Buy” Rating Reaffirmed at Roth Mkm

Roth Mkm reissued their buy rating on shares of Altus Power (NYSE:AMPS) in a research report sent to investors on Wednesday, Benzinga reports. Roth Mkm currently has a $4.50 price objective on the stock.

AMPS has been the subject of a number of other research reports. Morgan Stanley cut shares of Altus Power from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $8.00 to $4.00 in a research note on Wednesday, August 21st. UBS Group cut their price objective on shares of Altus Power from $5.50 to $5.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Maxim Group decreased their target price on Altus Power from $5.50 to $4.50 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, B. Riley upgraded Altus Power to a “strong-buy” rating in a research note on Tuesday, June 25th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Altus Power presently has an average rating of “Buy” and an average target price of $6.00.

Altus Power Price Performance

Shares of NYSE AMPS opened at $3.77 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 2.18. The business’s 50 day moving average price is $3.15 and its two-hundred day moving average price is $3.80. The company has a market cap of $604.93 million, a PE ratio of -75.30 and a beta of 0.96. Altus Power has a twelve month low of $2.71 and a twelve month high of $7.28.

Altus Power (NYSE:AMPS) last posted its earnings results on Thursday, August 8th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.13. Altus Power had a return on equity of 2.52% and a net margin of 13.55%. The business had revenue of $52.46 million for the quarter, compared to analyst estimates of $57.61 million. On average, analysts predict that Altus Power will post 0.08 EPS for the current year.

Institutional Investors Weigh In On Altus Power

Institutional investors have recently made changes to their positions in the stock. Triad Investment Management increased its stake in Altus Power by 48.2% during the 1st quarter. Triad Investment Management now owns 58,023 shares of the company’s stock worth $277,000 after acquiring an additional 18,879 shares during the period. Bouvel Investment Partners LLC increased its position in shares of Altus Power by 2.8% in the first quarter. Bouvel Investment Partners LLC now owns 305,673 shares of the company’s stock worth $1,461,000 after purchasing an additional 8,295 shares during the period. ANTIPODES PARTNERS Ltd grew its stake in Altus Power by 17.0% during the first quarter. ANTIPODES PARTNERS Ltd now owns 35,198 shares of the company’s stock worth $168,000 after buying an additional 5,116 shares in the last quarter. Edmond DE Rothschild Holding S.A. grew its stake in Altus Power by 38.4% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 428,963 shares of the company’s stock worth $2,050,000 after buying an additional 118,963 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Altus Power by 15.2% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 259,441 shares of the company’s stock valued at $1,240,000 after buying an additional 34,244 shares during the period. 46.55% of the stock is currently owned by institutional investors.

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.