Altus Power (NYSE:AMPS) Trading 5.5% Higher

Altus Power, Inc. (NYSE:AMPS)’s share price rose 5.5% during trading on Thursday . The stock traded as high as $4.24 and last traded at $4.24. Approximately 221,098 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 1,122,792 shares. The stock had previously closed at $4.02.

Analyst Ratings Changes

AMPS has been the subject of a number of analyst reports. JPMorgan Chase & Co. downgraded Altus Power from an “overweight” rating to a “neutral” rating in a research report on Wednesday, May 15th. Evercore ISI reduced their price objective on shares of Altus Power from $9.00 to $7.00 and set an “outperform” rating for the company in a research report on Wednesday, May 15th. Maxim Group initiated coverage on shares of Altus Power in a research report on Wednesday, April 10th. They issued a “buy” rating and a $7.00 target price on the stock. B. Riley upgraded shares of Altus Power to a “strong-buy” rating in a research report on Tuesday. Finally, Roth Mkm cut their price objective on Altus Power from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, May 16th. One analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $7.50.

Altus Power Trading Down 7.3 %

The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.47. The company has a market cap of $629.83 million, a PE ratio of -78.28 and a beta of 1.01. The company has a fifty day simple moving average of $4.10 and a two-hundred day simple moving average of $5.20.

Altus Power (NYSE:AMPS) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.08) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.08). The business had revenue of $40.66 million for the quarter, compared to analyst estimates of $39.13 million. Altus Power had a negative net margin of 4.48% and a negative return on equity of 1.37%. During the same period last year, the business earned ($0.05) EPS. Analysts anticipate that Altus Power, Inc. will post -0.07 EPS for the current year.

Insider Activity at Altus Power

In other news, CEO Gregg J. Felton bought 34,139 shares of Altus Power stock in a transaction dated Friday, June 7th. The stock was acquired at an average cost of $3.99 per share, with a total value of $136,214.61. Following the acquisition, the chief executive officer now owns 12,044,603 shares of the company’s stock, valued at $48,057,965.97. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In other Altus Power news, CEO Gregg J. Felton acquired 34,139 shares of the stock in a transaction on Friday, June 7th. The shares were bought at an average cost of $3.99 per share, with a total value of $136,214.61. Following the transaction, the chief executive officer now owns 12,044,603 shares of the company’s stock, valued at approximately $48,057,965.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregg J. Felton acquired 82,576 shares of the company’s stock in a transaction on Friday, May 31st. The stock was acquired at an average price of $3.90 per share, for a total transaction of $322,046.40. Following the completion of the purchase, the chief executive officer now owns 11,977,179 shares of the company’s stock, valued at approximately $46,710,998.10. The disclosure for this purchase can be found here. Insiders own 24.30% of the company’s stock.

Hedge Funds Weigh In On Altus Power

Several institutional investors have recently bought and sold shares of AMPS. AXQ Capital LP boosted its stake in shares of Altus Power by 25.5% in the third quarter. AXQ Capital LP now owns 21,078 shares of the company’s stock valued at $111,000 after buying an additional 4,278 shares in the last quarter. Ardsley Advisory Partners LP boosted its position in shares of Altus Power by 9.4% during the 3rd quarter. Ardsley Advisory Partners LP now owns 1,125,000 shares of the company’s stock worth $5,906,000 after purchasing an additional 96,687 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Altus Power by 12.8% during the 3rd quarter. Vanguard Group Inc. now owns 3,871,155 shares of the company’s stock worth $20,324,000 after purchasing an additional 438,845 shares during the period. Bouvel Investment Partners LLC increased its holdings in shares of Altus Power by 1.5% in the 4th quarter. Bouvel Investment Partners LLC now owns 297,378 shares of the company’s stock valued at $2,031,000 after purchasing an additional 4,495 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Altus Power by 32.3% in the fourth quarter. SG Americas Securities LLC now owns 35,309 shares of the company’s stock valued at $241,000 after purchasing an additional 8,617 shares during the period. 46.55% of the stock is owned by institutional investors and hedge funds.

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.