Altus Power (NYSE:AMPS) Downgraded to “Hold” Rating by Roth Capital

Roth Capital lowered shares of Altus Power (NYSE:AMPS) from a strong-buy rating to a hold rating in a report released on Thursday morning,Zacks.com reports.

A number of other equities analysts have also weighed in on the stock. UBS Group lowered shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 target price for the company. in a research note on Monday, February 10th. B. Riley cut Altus Power from a “buy” rating to a “neutral” rating and reduced their price target for the company from $6.00 to $5.00 in a research report on Friday, February 7th. Seaport Res Ptn downgraded shares of Altus Power from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. Roth Mkm reaffirmed a “neutral” rating and set a $5.00 price objective on shares of Altus Power in a research report on Friday. Finally, JPMorgan Chase & Co. upgraded Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a research note on Thursday, February 6th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $5.13.

Altus Power Trading Up 0.1 %

Shares of NYSE AMPS opened at $4.95 on Thursday. Altus Power has a twelve month low of $2.71 and a twelve month high of $5.50. The stock has a market cap of $795.14 million, a price-to-earnings ratio of 22.48 and a beta of 0.98. 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 company’s fifty day moving average is $4.52 and its 200-day moving average is $3.94.

Altus Power (NYSE:AMPS) last posted its earnings results on Monday, March 17th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). Altus Power had a net margin of 19.18% and a return on equity of 4.79%. The business had revenue of $44.47 million during the quarter, compared to analyst estimates of $46.64 million. Equities research analysts predict that Altus Power will post 0.14 EPS for the current year.

Insider Transactions at Altus Power

In related news, insider Anthony Savino sold 8,823 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $4.91, for a total value of $43,320.93. Following the sale, the insider now directly owns 4,088,231 shares in the company, valued at approximately $20,073,214.21. The trade was a 0.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Gregg J. Felton sold 71,161 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total value of $349,400.51. Following the sale, the chief executive officer now owns 4,023,696 shares in the company, valued at approximately $19,756,347.36. The trade was a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,146 shares of company stock worth $437,707 in the last quarter. 24.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Altus Power

A number of institutional investors and hedge funds have recently modified their holdings of the company. Magnus Financial Group LLC purchased a new stake in shares of Altus Power in the 4th quarter valued at about $333,000. Barclays PLC raised its position in Altus Power by 312.8% during the 3rd quarter. Barclays PLC now owns 115,987 shares of the company’s stock valued at $369,000 after purchasing an additional 87,886 shares during the last quarter. Ballentine Partners LLC bought a new stake in Altus Power in the fourth quarter valued at $112,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Altus Power by 798.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 73,508 shares of the company’s stock valued at $234,000 after buying an additional 65,327 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of Altus Power during the third quarter valued at approximately $425,000. 46.55% of the stock is owned by hedge funds and other 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.