Altus Power, Inc. (NYSE:AMPS) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Altus Power, Inc. (NYSE:AMPS) have been assigned an average rating of “Moderate Buy” from the nine ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $5.21.

Several equities analysts have recently issued reports on the stock. Citigroup cut their price objective on shares of Altus Power from $7.00 to $5.50 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. JPMorgan Chase & Co. downgraded shares of Altus Power from a “neutral” rating to an “underweight” rating in a research note on Thursday, December 12th. Finally, Roth Mkm reissued a “buy” rating and issued a $4.50 target price on shares of Altus Power in a research report on Wednesday, October 16th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMPS. Iridian Asset Management LLC CT acquired a new stake in Altus Power during the 3rd quarter worth about $40,000. HighTower Advisors LLC purchased a new stake in shares of Altus Power in the third quarter worth about $41,000. Vaughan David Investments LLC IL acquired a new stake in Altus Power during the second quarter worth about $55,000. Susquehanna Fundamental Investments LLC purchased a new position in Altus Power during the second quarter valued at approximately $68,000. Finally, Intech Investment Management LLC acquired a new position in Altus Power in the third quarter valued at approximately $86,000. 46.55% of the stock is currently owned by institutional investors and hedge funds.

Altus Power Trading Down 7.0 %

Shares of NYSE:AMPS opened at $4.09 on Thursday. The business’s 50-day moving average is $3.91 and its 200 day 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. Altus Power has a 1 year low of $2.71 and a 1 year high of $7.28. The firm has a market capitalization of $657.66 million, a P/E ratio of 18.59 and a beta of 1.05.

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.