Altus Power (NYSE:AMPS) Trading Down 4.9% – What’s Next?

Altus Power, Inc. (NYSE:AMPS)’s share price dropped 4.9% during mid-day trading on Monday . The stock traded as low as $4.09 and last traded at $4.11. Approximately 111,268 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 1,070,788 shares. The stock had previously closed at $4.32.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on AMPS shares. UBS Group cut their price target on shares of Altus Power from $5.50 to $5.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Maxim Group reduced their target price on Altus Power from $5.50 to $4.50 and set a “buy” rating for the company in a report on Monday, August 12th. Citigroup decreased their target price on Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Roth Mkm reaffirmed a “buy” rating and set a $4.50 price target on shares of Altus Power in a research report on Wednesday, October 16th. Finally, Morgan Stanley downgraded Altus Power from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $8.00 to $4.00 in a report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $5.21.

Altus Power Stock Performance

The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10. The firm has a market cap of $635.16 million, a price-to-earnings ratio of 17.95 and a beta of 1.04. The stock has a fifty day moving average price of $3.54 and a 200-day moving average price of $3.68.

Institutional Investors Weigh In On Altus Power

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Summit Securities Group LLC acquired a new position in shares of Altus Power during the 2nd quarter worth $39,000. Iridian Asset Management LLC CT acquired a new position in Altus Power during the third quarter worth about $40,000. HighTower Advisors LLC purchased a new position in Altus Power in the third quarter valued at about $41,000. Vaughan David Investments LLC IL acquired a new stake in shares of Altus Power during the 2nd quarter valued at approximately $55,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Altus Power during the 2nd quarter worth approximately $68,000. Institutional investors and hedge funds 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.