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

Shares of Altus Power, Inc. (NYSE:AMPS) have been given an average recommendation of “Buy” by the nine research firms that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $6.00.

A number of analysts have issued reports on the company. Seaport Res Ptn raised Altus Power to a “strong-buy” rating in a research note on Monday, June 3rd. B. Riley upgraded shares of Altus Power to a “strong-buy” rating in a research report on Tuesday, June 25th. Roth Mkm decreased their target price on shares of Altus Power from $5.00 to $4.50 and set a “buy” rating on the stock in a report on Friday, August 9th. UBS Group cut their price target on shares of Altus Power from $5.50 to $5.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Maxim Group decreased their price objective on Altus Power from $5.50 to $4.50 and set a “buy” rating on the stock in a report on Monday, August 12th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new stake in Altus Power during the second quarter worth about $39,000. Vaughan David Investments LLC IL purchased a new stake in Altus Power during the 2nd quarter worth approximately $55,000. Susquehanna Fundamental Investments LLC acquired a new stake in Altus Power during the 2nd quarter worth approximately $68,000. Victory Capital Management Inc. purchased a new position in Altus Power in the 4th quarter valued at approximately $72,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Altus Power in the first quarter worth $88,000. 46.55% of the stock is currently owned by institutional investors and hedge funds.

Altus Power Stock Down 5.9 %

Shares of NYSE AMPS opened at $3.18 on Tuesday. The stock has a market cap of $510.94 million, a PE ratio of -63.60 and a beta of 0.96. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 2.18. Altus Power has a 12-month low of $2.80 and a 12-month high of $7.28. The company has a 50-day moving average of $3.37 and a 200 day moving average of $3.92.

Altus Power (NYSE:AMPS) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.13. Altus Power had a return on equity of 2.52% and a net margin of 13.55%. The business had revenue of $52.46 million during the quarter, compared to analyst estimates of $57.61 million. As a group, sell-side analysts predict that Altus Power will post 0.08 EPS for the current fiscal year.

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.