Altus Power (NYSE:AMPS) Shares Gap Up – What’s Next?

Shares of Altus Power, Inc. (NYSE:AMPS) gapped up before the market opened on Monday . The stock had previously closed at $4.00, but opened at $4.20. Altus Power shares last traded at $3.88, with a volume of 101,628 shares.

Analyst Ratings Changes

Several analysts have weighed in on AMPS shares. Citigroup dropped their price objective on Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a report on Tuesday, October 22nd. JPMorgan Chase & Co. lowered shares of Altus Power from a “neutral” rating to an “underweight” rating in a report on Thursday, December 12th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $4.50 target price on shares of Altus Power in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $5.21.

Altus Power Price Performance

The company’s 50 day simple moving average is $3.94 and its 200 day simple moving average is $3.66. 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 stock has a market cap of $625.50 million, a P/E ratio of 17.68 and a beta of 1.05.

Institutional Investors Weigh In On Altus Power

Large investors have recently modified their holdings of the business. Encompass Capital Advisors LLC raised its holdings in shares of Altus Power by 1.2% during the second quarter. Encompass Capital Advisors LLC now owns 4,628,613 shares of the company’s stock worth $18,144,000 after acquiring an additional 53,031 shares during the period. State Street Corp increased its holdings in Altus Power by 0.6% during the 3rd quarter. State Street Corp now owns 3,682,864 shares of the company’s stock worth $11,712,000 after purchasing an additional 21,312 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Altus Power by 37.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,974,269 shares of the company’s stock valued at $11,662,000 after purchasing an additional 807,071 shares during the period. abrdn plc raised its stake in shares of Altus Power by 8.7% in the 3rd quarter. abrdn plc now owns 1,444,400 shares of the company’s stock valued at $4,593,000 after purchasing an additional 115,300 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Altus Power by 112.1% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 1,411,042 shares of the company’s stock valued at $5,531,000 after purchasing an additional 745,810 shares in the last quarter. 46.55% of the stock is currently owned by institutional investors.

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.