Altus Power (NYSE:AMPS) Sees Unusually-High Trading Volume – Should You Buy?

Altus Power, Inc. (NYSE:AMPS) shares saw unusually-high trading volume on Friday . Approximately 8,120,103 shares were traded during trading, an increase of 133% from the previous session’s volume of 3,481,637 shares.The stock last traded at $4.88 and had previously closed at $4.87.

Analyst Ratings Changes

Several equities analysts recently commented on AMPS shares. Citigroup decreased their price objective on shares of Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. raised shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a research report on Thursday. Roth Mkm reissued a “buy” rating and set a $4.50 target price on shares of Altus Power in a report on Wednesday, October 16th. Finally, B. Riley lowered shares of Altus Power from a “buy” rating to a “neutral” rating and lowered their price target for the company from $6.00 to $5.00 in a report on Friday. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $5.06.

Altus Power Stock Performance

The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.60 and a current ratio of 0.60. The firm’s 50 day moving average price is $3.97 and its 200-day moving average price is $3.63. The firm has a market capitalization of $782.29 million, a PE ratio of 22.11 and a beta of 1.05.

Institutional Investors Weigh In On Altus Power

A number of institutional investors have recently added to or reduced their stakes in AMPS. Magnus Financial Group LLC purchased a new position in shares of Altus Power in the fourth quarter valued at approximately $333,000. Ballentine Partners LLC purchased a new position in Altus Power in the 4th quarter valued at $112,000. Barclays PLC boosted its stake in 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 purchasing an additional 87,886 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Altus Power by 798.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 73,508 shares of the company’s stock valued at $234,000 after buying an additional 65,327 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Altus Power in the third quarter valued at about $425,000. Institutional investors and hedge funds own 46.55% of the company’s stock.

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.