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

Altus Power, Inc. (NYSE:AMPS) has earned an average rating of “Moderate Buy” from the nine ratings firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $5.21.

A number of analysts have recently weighed in on the company. Morgan Stanley cut Altus Power from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $8.00 to $4.00 in a research report on Wednesday, August 21st. 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 research note on Tuesday, October 22nd. JPMorgan Chase & Co. cut Altus Power from a “neutral” rating to an “underweight” rating in a research report on Thursday. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $4.50 price objective on shares of Altus Power in a report on Wednesday, October 16th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new stake in shares of Altus Power in the 2nd quarter worth $39,000. Iridian Asset Management LLC CT purchased a new stake in Altus Power during the third quarter worth about $40,000. HighTower Advisors LLC purchased a new stake in Altus Power during the 3rd quarter worth approximately $41,000. Vaughan David Investments LLC IL acquired a new stake in shares of Altus Power in the second quarter valued at $55,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Altus Power in the 2nd quarter valued at about $68,000. 46.55% of the stock is owned by institutional investors and hedge funds.

Altus Power Stock Up 1.9 %

NYSE:AMPS opened at $3.80 on Friday. The company’s 50-day simple moving average is $3.66 and its 200-day simple moving average is $3.68. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.60 and a current ratio of 0.60. Altus Power has a fifty-two week low of $2.71 and a fifty-two week high of $7.28. The stock has a market capitalization of $611.02 million, a P/E ratio of 17.27 and a beta of 1.04.

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.