Altus Power (NYSE:AMPS) Price Target Cut to $5.50 by Analysts at Citigroup

Altus Power (NYSE:AMPS) had its price target trimmed by Citigroup from $7.00 to $5.50 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

AMPS has been the subject of a number of other research reports. UBS Group dropped their price objective 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. B. Riley raised Altus Power to a “strong-buy” rating in a research report on Tuesday, June 25th. Morgan Stanley cut Altus Power from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $8.00 to $4.00 in a research note on Wednesday, August 21st. Maxim Group lowered their target price on Altus Power from $5.50 to $4.50 and set a “buy” rating for the company in a research note on Monday, August 12th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $4.50 price target on shares of Altus Power in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Altus Power has an average rating of “Buy” and a consensus price target of $5.94.

Altus Power Price Performance

Altus Power stock opened at $3.42 on Tuesday. The company’s 50 day simple moving average is $3.21 and its 200-day simple moving average is $3.74. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.91 and a current ratio of 0.91. Altus Power has a 1 year low of $2.71 and a 1 year high of $7.28. The company has a market capitalization of $549.50 million, a price-to-earnings ratio of -68.40 and a beta of 0.96.

Altus Power (NYSE:AMPS) last announced its 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 company had revenue of $52.46 million for the quarter, compared to analyst estimates of $57.61 million. As a group, equities research analysts expect that Altus Power will post 0.08 earnings per share for the current year.

Institutional Investors Weigh In On Altus Power

A number of institutional investors and hedge funds have recently made changes to their positions in AMPS. Swedbank AB acquired a new position in Altus Power in the 1st quarter valued at $12,589,000. Dimensional Fund Advisors LP boosted its holdings in shares of Altus Power by 37.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,974,269 shares of the company’s stock valued at $11,662,000 after acquiring an additional 807,071 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Altus Power by 112.1% during the second 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 during the period. Long Focus Capital Management LLC raised its holdings in Altus Power by 427.6% during the second quarter. Long Focus Capital Management LLC now owns 549,081 shares of the company’s stock worth $2,152,000 after purchasing an additional 445,000 shares in the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new stake in Altus Power in the second quarter valued at about $1,085,000. 46.55% of the stock is owned by hedge funds and other institutional investors.

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.