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

Seaport Res Ptn lowered shares of Altus Power (NYSE:AMPS) from a strong-buy rating to a hold rating in a research report report published on Thursday morning,Zacks.com reports.

AMPS has been the subject of a number of other reports. B. Riley cut 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 note on Friday. Citigroup reduced their price objective on shares of Altus Power from $7.00 to $5.50 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Roth Mkm reissued a “buy” rating and issued a $4.50 price objective on shares of Altus Power in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. raised Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a research note on Thursday. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $5.06.

Altus Power Price Performance

Shares of NYSE:AMPS opened at $4.87 on Thursday. Altus Power has a one year low of $2.71 and a one year high of $7.28. 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 company has a market cap of $782.29 million, a price-to-earnings ratio of 22.11 and a beta of 1.05. The firm has a 50 day simple moving average of $3.98 and a 200 day simple moving average of $3.64.

Hedge Funds Weigh In On Altus Power

A number of hedge funds and other institutional investors have recently modified their holdings of AMPS. XTX Topco Ltd purchased a new position in shares of Altus Power in the 3rd quarter worth about $425,000. abrdn plc raised its stake in shares of Altus Power by 8.7% in the third 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 period. GSA Capital Partners LLP purchased a new position in shares of Altus Power during the 3rd quarter valued at $286,000. Barclays PLC grew its stake in shares of Altus Power by 312.8% during the 3rd quarter. Barclays PLC now owns 115,987 shares of the company’s stock worth $369,000 after acquiring an additional 87,886 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Altus Power by 48.1% in the 4th quarter. Bank of New York Mellon Corp now owns 267,220 shares of the company’s stock worth $1,088,000 after acquiring an additional 86,797 shares during the last quarter. Hedge funds and other institutional investors own 46.55% of the company’s stock.

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.