Altus Power (NYSE:AMPS) Cut to Hold at Roth Capital

Altus Power (NYSE:AMPS) was downgraded by stock analysts at Roth Capital from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

Several other equities research analysts also recently weighed in on the company. UBS Group downgraded Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 price target for the company. in a report on Monday, February 10th. Seaport Res Ptn cut shares of Altus Power from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. upgraded shares of 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, February 6th. B. Riley downgraded shares of Altus Power from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $6.00 to $5.00 in a research report on Friday, February 7th. Finally, Roth Mkm reiterated a “neutral” rating and set a $5.00 target price on shares of Altus Power in a research report on Friday. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $5.13.

Altus Power Price Performance

Shares of NYSE:AMPS opened at $4.95 on Thursday. Altus Power has a one year low of $2.71 and a one year high of $5.50. The stock has a market capitalization of $795.14 million, a price-to-earnings ratio of 22.48 and a beta of 0.98. The company has a 50-day simple moving average of $4.52 and a 200-day simple moving average of $3.94. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.60 and a current ratio of 0.60.

Altus Power (NYSE:AMPS) last posted its quarterly earnings data on Monday, March 17th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.28). Altus Power had a net margin of 19.18% and a return on equity of 4.79%. The company had revenue of $44.47 million for the quarter, compared to analysts’ expectations of $46.64 million. On average, analysts predict that Altus Power will post 0.14 EPS for the current year.

Insider Transactions at Altus Power

In other Altus Power news, CFO Dustin Weber sold 9,162 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total transaction of $44,985.42. Following the completion of the transaction, the chief financial officer now owns 2,002,611 shares of the company’s stock, valued at approximately $9,832,820.01. This trade represents a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Anthony Savino sold 8,823 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total transaction of $43,320.93. Following the completion of the transaction, the insider now directly owns 4,088,231 shares of the company’s stock, valued at approximately $20,073,214.21. This represents a 0.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,146 shares of company stock valued at $437,707 in the last quarter. 24.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Altus Power

Large investors have recently bought and sold shares of the stock. US Bancorp DE increased its stake in Altus Power by 11,326.2% during the fourth quarter. US Bancorp DE now owns 9,598 shares of the company’s stock worth $39,000 after acquiring an additional 9,514 shares during the last quarter. HighTower Advisors LLC purchased a new position in Altus Power in the 3rd quarter worth approximately $41,000. Citizens Financial Group Inc. RI acquired a new stake in Altus Power in the fourth quarter valued at approximately $41,000. SevenBridge Financial Group LLC purchased a new stake in shares of Altus Power during the fourth quarter valued at approximately $41,000. Finally, One68 Global Capital LLC acquired a new position in shares of Altus Power during the fourth quarter worth $41,000. 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.