Altus Power, Inc. (NYSE:AMPS) Receives $5.21 Consensus Price Target from Analysts

Altus Power, Inc. (NYSE:AMPS) has been given a consensus rating of “Moderate Buy” by the nine ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $5.21.

AMPS has been the topic of several recent research reports. Roth Mkm reiterated a “buy” rating and issued a $4.50 price objective on shares of Altus Power in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lowered Altus Power from a “neutral” rating to an “underweight” rating in a research report on Thursday, December 12th. Finally, Citigroup lowered their price target on shares of Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a report on Tuesday, October 22nd.

Altus Power Stock Performance

Shares of AMPS stock opened at $4.40 on Thursday. The company has a 50 day moving average price of $3.89 and a 200-day moving average price of $3.66. The firm has a market capitalization of $707.50 million, a PE ratio of 20.00 and a beta of 1.05. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10. Altus Power has a 52 week low of $2.71 and a 52 week high of $7.28.

Hedge Funds Weigh In On Altus Power

Hedge funds have recently added to or reduced their stakes in the stock. Encompass Capital Advisors LLC raised its stake in Altus Power by 1.2% in the second quarter. Encompass Capital Advisors LLC now owns 4,628,613 shares of the company’s stock worth $18,144,000 after buying an additional 53,031 shares in the last quarter. State Street Corp raised its position in Altus Power by 0.6% during the third quarter. State Street Corp now owns 3,682,864 shares of the company’s stock valued at $11,712,000 after acquiring an additional 21,312 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Altus Power by 37.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,974,269 shares of the company’s stock valued at $11,662,000 after buying an additional 807,071 shares during the period. abrdn plc grew its holdings in Altus Power by 8.7% in the third quarter. abrdn plc now owns 1,444,400 shares of the company’s stock valued at $4,593,000 after purchasing an additional 115,300 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in Altus Power by 112.1% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,411,042 shares of the company’s stock worth $5,531,000 after acquiring an additional 745,810 shares in the last quarter. 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.