Altus Power (NYSE:AMPS – Get Free Report) was downgraded by JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued to investors on Wednesday, MarketBeat.com reports.
A number of other brokerages also recently issued reports on AMPS. Roth Mkm restated a “buy” rating and issued a $7.00 price objective on shares of Altus Power in a research note on Tuesday, April 30th. B. Riley reduced their price objective on Altus Power from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Maxim Group started coverage on Altus Power in a report on Wednesday, April 10th. They issued a “buy” rating and a $7.00 price objective for the company. Finally, Morgan Stanley reissued an “overweight” rating and issued a $9.00 price objective on shares of Altus Power in a report on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.50.
Get Our Latest Analysis on Altus Power
Altus Power Stock Down 4.1 %
Shares of NYSE:AMPS opened at $4.00 on Wednesday. The company has a market capitalization of $636.32 million, a PE ratio of -80.00 and a beta of 0.98. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.48 and a quick ratio of 1.48. The business has a fifty day moving average price of $4.51 and a two-hundred day moving average price of $5.44. Altus Power has a 1 year low of $3.40 and a 1 year high of $7.28.
Altus Power (NYSE:AMPS – Get Free Report) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). The firm had revenue of $40.66 million during the quarter, compared to the consensus estimate of $39.13 million. Altus Power had a negative return on equity of 1.37% and a negative net margin of 4.48%. During the same quarter in the prior year, the company earned ($0.05) EPS. Analysts forecast that Altus Power will post -0.11 earnings per share for the current year.
Insiders Place Their Bets
In related news, CEO Gregg J. Felton bought 12,500 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was acquired at an average price of $4.78 per share, for a total transaction of $59,750.00. Following the purchase, the chief executive officer now directly owns 11,894,603 shares in the company, valued at $56,856,202.34. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 24.30% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in AMPS. DekaBank Deutsche Girozentrale bought a new stake in shares of Altus Power during the 4th quarter valued at about $3,671,000. Vanguard Group Inc. boosted its position in shares of Altus Power by 12.8% during the 3rd quarter. Vanguard Group Inc. now owns 3,871,155 shares of the company’s stock valued at $20,324,000 after acquiring an additional 438,845 shares during the last quarter. abrdn plc boosted its position in shares of Altus Power by 1,217.7% during the 3rd quarter. abrdn plc now owns 619,300 shares of the company’s stock valued at $3,251,000 after acquiring an additional 572,300 shares during the last quarter. Handelsbanken Fonder AB bought a new stake in shares of Altus Power during the 4th quarter valued at about $5,298,000. Finally, ANTIPODES PARTNERS Ltd boosted its position in shares of Altus Power by 292.1% during the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 25,503 shares of the company’s stock valued at $127,000 after acquiring an additional 18,999 shares during the last quarter. 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.
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Source: defenseworld.net
