Roth Mkm Trims Altus Power (NYSE:AMPS) Target Price to $4.50

Altus Power (NYSE:AMPS) had its target price reduced by Roth Mkm from $5.00 to $4.50 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Roth Mkm’s price target would indicate a potential upside of 42.41% from the stock’s current price.

A number of other research analysts have also commented on the stock. JPMorgan Chase & Co. lowered shares of Altus Power from an “overweight” rating to a “neutral” rating in a research note on Wednesday, May 15th. Morgan Stanley reissued an “overweight” rating and issued a $9.00 price target on shares of Altus Power in a report on Thursday, April 11th. B. Riley upgraded shares of Altus Power to a “strong-buy” rating in a report on Tuesday, June 25th. Evercore ISI decreased their target price on Altus Power from $9.00 to $7.00 and set an “outperform” rating on the stock in a report on Wednesday, May 15th. Finally, UBS Group reduced their target price on Altus Power from $5.50 to $5.00 and set a “buy” rating for the company in a report on Friday. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Altus Power currently has an average rating of “Buy” and an average price target of $6.94.

Altus Power Stock Performance

AMPS stock traded down $0.37 during mid-day trading on Friday, reaching $3.16. The company had a trading volume of 2,121,623 shares, compared to its average volume of 1,074,987. The stock has a market capitalization of $507.72 million, a P/E ratio of -63.20 and a beta of 1.00. The stock’s 50-day simple moving average is $4.11 and its two-hundred day simple moving average is $4.74. Altus Power has a one year low of $2.91 and a one year high of $7.28. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.47.

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

Insider Buying and Selling

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

Institutional Investors Weigh In On Altus Power

A number of large investors have recently bought and sold shares of AMPS. Edmond DE Rothschild Holding S.A. lifted its position in shares of Altus Power by 1.0% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 310,000 shares of the company’s stock worth $2,117,000 after buying an additional 3,000 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Altus Power by 7.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 44,257 shares of the company’s stock valued at $212,000 after purchasing an additional 3,116 shares during the last quarter. Olympiad Research LP grew its stake in Altus Power by 8.2% in the 4th quarter. Olympiad Research LP now owns 62,704 shares of the company’s stock valued at $428,000 after buying an additional 4,726 shares during the last quarter. ANTIPODES PARTNERS Ltd grew its stake in Altus Power by 17.0% in the 1st quarter. ANTIPODES PARTNERS Ltd now owns 35,198 shares of the company’s stock valued at $168,000 after buying an additional 5,116 shares during the last quarter. Finally, Bouvel Investment Partners LLC raised its holdings in Altus Power by 2.8% in the 1st quarter. Bouvel Investment Partners LLC now owns 305,673 shares of the company’s stock worth $1,461,000 after acquiring an additional 8,295 shares during the period. 46.55% of the stock is currently owned by institutional investors.

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.