Altus Power (NYSE:AMPS) Stock Rating Reaffirmed by Roth Mkm

Altus Power (NYSE:AMPS)‘s stock had its “buy” rating restated by Roth Mkm in a research note issued on Wednesday, Benzinga reports. They currently have a $4.50 price target on the stock. Roth Mkm’s target price suggests a potential upside of 25.00% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley cut shares of Altus Power from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $8.00 to $4.00 in a research note on Wednesday, August 21st. B. Riley upgraded Altus Power to a “strong-buy” rating in a research report on Tuesday, June 25th. UBS Group lowered their price objective on Altus Power from $5.50 to $5.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Maxim Group lowered their price target on shares of Altus Power from $5.50 to $4.50 and set a “buy” rating on the stock in a report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $6.00.

Altus Power Stock Performance

Shares of NYSE AMPS opened at $3.60 on Wednesday. Altus Power has a 12 month low of $2.71 and a 12 month high of $7.28. The company has a market cap of $578.42 million, a P/E ratio of -72.00 and a beta of 0.96. The business’s 50 day moving average is $3.15 and its two-hundred day moving average is $3.79. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 2.18.

Altus Power (NYSE:AMPS) last announced its earnings results on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.13. Altus Power had a net margin of 13.55% and a return on equity of 2.52%. The business had revenue of $52.46 million for the quarter, compared to analyst estimates of $57.61 million. On average, equities analysts expect that Altus Power will post 0.08 EPS for the current year.

Hedge Funds Weigh In On Altus Power

Several institutional investors have recently bought and sold shares of AMPS. Encompass Capital Advisors LLC increased its stake in shares of Altus Power by 1.2% in the second quarter. Encompass Capital Advisors LLC now owns 4,628,613 shares of the company’s stock valued at $18,144,000 after buying an additional 53,031 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Altus Power by 37.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,974,269 shares of the company’s stock valued at $11,662,000 after acquiring an additional 807,071 shares in the last quarter. Swedbank AB bought a new position in shares of Altus Power in the first quarter worth about $12,589,000. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Altus Power by 112.1% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 1,411,042 shares of the company’s stock worth $5,531,000 after purchasing an additional 745,810 shares in the last quarter. Finally, Long Focus Capital Management LLC grew its stake in shares of Altus Power by 427.6% during the second quarter. Long Focus Capital Management LLC now owns 549,081 shares of the company’s stock valued at $2,152,000 after purchasing an additional 445,000 shares during the last quarter. Institutional investors 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.