Altus Power (NYSE:AMPS) Cut to “Neutral” at B. Riley

B. Riley lowered shares of Altus Power (NYSE:AMPS) from a buy rating to a neutral rating in a research note published on Friday morning, MarketBeat Ratings reports. They currently have $5.00 target price on the stock, down from their previous target price of $6.00.

A number of other equities research analysts have also weighed in on AMPS. JPMorgan Chase & Co. upgraded Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a research report on Thursday. Citigroup cut their price target on shares of Altus Power from $7.00 to $5.50 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Finally, Roth Mkm reaffirmed a “buy” rating and set a $4.50 target price on shares of Altus Power in a research note on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $5.06.

Altus Power Stock Performance

Altus Power stock opened at $4.87 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.10. The firm has a market cap of $782.29 million, a P/E ratio of 22.11 and a beta of 1.05. Altus Power has a 1-year low of $2.71 and a 1-year high of $7.28. The firm has a 50-day moving average of $3.98 and a 200-day moving average of $3.64.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. US Bancorp DE boosted its stake in Altus Power by 11,326.2% during the fourth quarter. US Bancorp DE now owns 9,598 shares of the company’s stock worth $39,000 after acquiring an additional 9,514 shares in the last quarter. Iridian Asset Management LLC CT bought a new stake in shares of Altus Power in the 3rd quarter worth approximately $40,000. HighTower Advisors LLC purchased a new stake in shares of Altus Power in the 3rd quarter worth approximately $41,000. Citizens Financial Group Inc. RI purchased a new stake in shares of Altus Power in the 4th quarter worth approximately $41,000. Finally, Intech Investment Management LLC bought a new position in Altus Power during the 3rd quarter valued at approximately $86,000. 46.55% of the stock is currently owned by institutional investors.

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.