Altus Power (NYSE:AMPS) Trading 3.5% Higher – Should You Buy?

Shares of Altus Power, Inc. (NYSE:AMPS) traded up 3.5% during trading on Thursday . The company traded as high as $3.44 and last traded at $3.43. 76,773 shares traded hands during trading, a decline of 93% from the average session volume of 1,032,086 shares. The stock had previously closed at $3.31.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AMPS shares. Roth Mkm reissued a “buy” rating and issued a $4.50 target price on shares of Altus Power in a report on Wednesday, October 16th. Citigroup dropped their price objective on Altus Power from $7.00 to $5.50 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. downgraded Altus Power from a “neutral” rating to an “underweight” rating in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.21.

Altus Power Price Performance

The company has a fifty day moving average price of $4.00 and a two-hundred day moving average price of $3.65. The firm has a market capitalization of $576.47 million, a price-to-earnings ratio of 16.30 and a beta of 1.05. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10.

Hedge Funds Weigh In On Altus Power

Several institutional investors have recently bought and sold shares of AMPS. Iridian Asset Management LLC CT acquired a new stake in shares of Altus Power during the 3rd quarter valued at approximately $40,000. HighTower Advisors LLC purchased a new stake in Altus Power during the third quarter worth $41,000. Susquehanna Fundamental Investments LLC acquired a new stake in Altus Power in the second quarter valued at $68,000. Intech Investment Management LLC purchased a new position in shares of Altus Power in the third quarter valued at $86,000. Finally, Ballentine Partners LLC purchased a new position in Altus Power during the 4th quarter valued at about $112,000. 46.55% of the stock is owned by institutional investors and hedge funds.

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.