Roth Mkm Reiterates Buy Rating for Altus Power (NYSE:AMPS)

Altus Power (NYSE:AMPS)‘s stock had its “buy” rating restated by stock analysts at Roth Mkm in a note issued to investors on Tuesday, Benzinga reports. They currently have a $7.00 target price on the stock. Roth Mkm’s price objective would suggest a potential upside of 89.70% from the stock’s current price.

A number of other brokerages also recently commented on AMPS. Maxim Group initiated coverage on shares of Altus Power in a research report on Wednesday, April 10th. They issued a “buy” rating and a $7.00 price objective for the company. B. Riley dropped their price target on Altus Power from $10.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $9.00 price objective on shares of Altus Power in a research report on Thursday, April 11th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $8.25.

Altus Power Trading Up 1.9 %

Shares of NYSE AMPS opened at $3.69 on Tuesday. The company’s 50 day simple moving average is $5.14 and its 200 day simple moving average is $5.53. The company has a debt-to-equity ratio of 2.33, a current ratio of 2.15 and a quick ratio of 2.15. Altus Power has a fifty-two week low of $3.40 and a fifty-two week high of $7.28. The firm has a market capitalization of $587.01 million, a P/E ratio of -52.71 and a beta of 0.88.

Altus Power (NYSE:AMPS) last released its quarterly earnings data on Thursday, March 14th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $34.19 million for the quarter, compared to the consensus estimate of $42.85 million. On average, analysts predict that Altus Power will post -0.11 EPS for the current year.

Insider Activity

In related news, CEO Gregg J. Felton purchased 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were bought at an average price of $4.78 per share, for a total transaction of $59,750.00. Following the completion of the transaction, the chief executive officer now owns 11,894,603 shares of the company’s stock, valued at $56,856,202.34. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Gregg J. Felton purchased 12,500 shares of Altus Power stock in a transaction that occurred on Thursday, March 28th. The shares were acquired at an average price of $4.78 per share, for a total transaction of $59,750.00. Following the transaction, the chief executive officer now owns 11,894,603 shares of the company’s stock, valued at approximately $56,856,202.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lars Norell sold 40,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $5.58, for a total value of $223,200.00. Following the completion of the sale, the chief executive officer now directly owns 21,654,907 shares in the company, valued at $120,834,381.06. The disclosure for this sale can be found here. In the last three months, insiders sold 83,673 shares of company stock worth $530,948. 24.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Altus Power

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Altus Power by 12.8% during the 3rd quarter. Vanguard Group Inc. now owns 3,871,155 shares of the company’s stock worth $20,324,000 after purchasing an additional 438,845 shares during the last quarter. Ardsley Advisory Partners LP raised its stake in Altus Power by 9.4% during the third quarter. Ardsley Advisory Partners LP now owns 1,125,000 shares of the company’s stock worth $5,906,000 after buying an additional 96,687 shares during the last quarter. Handelsbanken Fonder AB bought a new stake in Altus Power during the fourth quarter valued at $5,298,000. Skandinaviska Enskilda Banken AB publ grew its holdings in Altus Power by 2.0% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 678,732 shares of the company’s stock worth $3,563,000 after acquiring an additional 13,500 shares during the period. Finally, abrdn plc lifted its stake in shares of Altus Power by 1,217.7% in the 3rd quarter. abrdn plc now owns 619,300 shares of the company’s stock valued at $3,251,000 after purchasing an additional 572,300 shares during the period. 46.55% of the stock is 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.