Altus Power (NYSE:AMPS – Get Free Report)‘s stock had its “overweight” rating reissued by equities researchers at Morgan Stanley in a note issued to investors on Thursday, Benzinga reports. They presently have a $9.00 price target on the stock. Morgan Stanley’s price target would indicate a potential upside of 113.78% from the company’s current price.
Several other brokerages also recently issued reports on AMPS. B. Riley upped their price objective on Altus Power from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Maxim Group assumed coverage on shares of Altus Power in a research note on Wednesday. They issued a “buy” rating and a $7.00 target price for the company. Finally, Roth Mkm decreased their price target on shares of Altus Power from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $8.63.
Check Out Our Latest Analysis on Altus Power
Altus Power Stock Performance
NYSE:AMPS opened at $4.21 on Thursday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 2.33. The company has a market capitalization of $669.73 million, a P/E ratio of -60.13 and a beta of 0.88. The firm has a 50-day moving average price of $5.75 and a two-hundred day moving average price of $5.61. Altus Power has a twelve month low of $4.08 and a twelve month high of $7.28.
Altus Power (NYSE:AMPS – Get Free Report) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). Altus Power had a negative return on equity of 0.30% and a negative net margin of 6.03%. The business had revenue of $34.19 million for the quarter, compared to analysts’ expectations of $42.85 million. As a group, research analysts expect that Altus Power will post -0.09 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, insider Anthony Savino sold 34,725 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $7.02, for a total value of $243,769.50. Following the completion of the sale, the insider now directly owns 3,907,536 shares in the company, valued at $27,430,902.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Anthony Savino sold 34,725 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $7.02, for a total value of $243,769.50. Following the transaction, the insider now directly owns 3,907,536 shares of the company’s stock, valued at approximately $27,430,902.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gregg J. Felton bought 12,500 shares of Altus Power stock in a transaction that occurred on Thursday, March 28th. The stock was purchased at an average price of $4.78 per share, for a total transaction of $59,750.00. Following the acquisition, the chief executive officer now directly owns 11,894,603 shares of the company’s stock, valued at approximately $56,856,202.34. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 83,673 shares of company stock valued at $530,948. Insiders own 31.55% of the company’s stock.
Institutional Trading of Altus Power
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ensign Peak Advisors Inc purchased a new stake in Altus Power during the third quarter worth approximately $26,000. JPMorgan Chase & Co. purchased a new stake in Altus Power during the 1st quarter worth $39,000. Advisors Asset Management Inc. purchased a new stake in Altus Power during the 4th quarter worth $37,000. Royal Bank of Canada acquired a new stake in Altus Power in the 1st quarter valued at $46,000. Finally, Point72 Middle East FZE purchased a new position in Altus Power in the fourth quarter valued at about $41,000. Institutional investors and hedge funds 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.
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Source: defenseworld.net
