Altus Power (NYSE:AMPS) Stock Rating Lowered by Roth Capital

Altus Power (NYSE:AMPS) was downgraded by research analysts at Roth Capital from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. Seaport Res Ptn lowered shares of Altus Power from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. Roth Mkm reiterated a “neutral” rating and issued a $5.00 price target on shares of Altus Power in a research note on Friday. JPMorgan Chase & Co. upgraded shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a research note on Thursday, February 6th. UBS Group lowered shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 price target on the stock. in a research note on Monday, February 10th. Finally, B. Riley lowered shares of Altus Power from a “buy” rating to a “neutral” rating and lowered their price target for the company from $6.00 to $5.00 in a research note on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently 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 12 month low of $2.71 and a 12 month high of $5.50. 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 simple moving average is $4.52 and its 200 day simple moving average is $3.94. The firm has a market cap of $795.14 million, a price-to-earnings ratio of 22.48 and a beta of 0.98.

Altus Power (NYSE:AMPS) last issued its quarterly earnings data on Monday, March 17th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). Altus Power had a return on equity of 4.79% and a net margin of 19.18%. The company had revenue of $44.47 million for the quarter, compared to analyst estimates of $46.64 million. As a group, research analysts forecast that Altus Power will post 0.14 EPS for the current fiscal year.

Insider Activity

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

Institutional Trading of Altus Power

Hedge funds and other institutional investors have recently modified their holdings of the stock. US Bancorp DE boosted its holdings in shares of Altus Power by 11,326.2% during the 4th quarter. US Bancorp DE now owns 9,598 shares of the company’s stock worth $39,000 after buying an additional 9,514 shares during the period. HighTower Advisors LLC bought a new stake in shares of Altus Power during the 3rd quarter worth about $41,000. Citizens Financial Group Inc. RI bought a new stake in shares of Altus Power during the 4th quarter worth about $41,000. SevenBridge Financial Group LLC bought a new stake in shares of Altus Power during the 4th quarter worth about $41,000. Finally, One68 Global Capital LLC bought a new stake in Altus Power in the 4th quarter valued at about $41,000. Institutional investors 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.