Brokerages Set Altus Power, Inc. (NYSE:AMPS) PT at $8.25

Altus Power, Inc. (NYSE:AMPS) has been given a consensus rating of “Buy” by the seven analysts that are presently covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $8.25.

AMPS has been the topic of several analyst reports. Roth Mkm reissued a “buy” rating and set a $7.00 target price on shares of Altus Power in a research report on Tuesday. B. Riley reduced their price objective on shares of Altus Power from $10.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Maxim Group began coverage on shares of Altus Power in a research report on Wednesday, April 10th. They set a “buy” rating and a $7.00 price objective for the company. Finally, Morgan Stanley restated an “overweight” rating and issued a $9.00 target price on shares of Altus Power in a report on Thursday, April 11th.

Altus Power Stock Performance

NYSE AMPS opened at $3.86 on Friday. The company has a market capitalization of $613.26 million, a price-to-earnings ratio of -56.86 and a beta of 0.88. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 2.33. Altus Power has a twelve month low of $3.40 and a twelve month high of $7.28. The stock has a fifty day simple moving average of $5.08 and a 200 day simple moving average of $5.52.

Altus Power (NYSE:AMPS) last released its quarterly earnings results on Thursday, March 14th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The company had revenue of $34.19 million during the quarter, compared to the consensus estimate of $42.85 million. Altus Power had a negative net margin of 6.03% and a negative return on equity of 0.30%. Sell-side analysts expect that Altus Power will post -0.11 EPS for the current year.

Insider Transactions at Altus Power

In other Altus Power news, CFO Dustin Weber sold 4,350 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $7.15, for a total value of $31,102.50. Following the completion of the sale, the chief financial officer now owns 1,884,926 shares of the company’s stock, valued at $13,477,220.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Dustin Weber sold 4,350 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $7.15, for a total value of $31,102.50. Following the sale, the chief financial officer now owns 1,884,926 shares in the company, valued at approximately $13,477,220.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anthony Savino sold 34,725 shares of Altus Power stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $7.02, for a total value of $243,769.50. Following the transaction, the insider now owns 3,907,536 shares of the company’s stock, valued at approximately $27,430,902.72. The disclosure for this sale can be found here. Insiders sold a total of 43,673 shares of company stock valued at $307,748 in the last quarter. 24.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Altus Power

Several large investors have recently bought and sold shares of the stock. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Altus Power in the 3rd quarter worth approximately $41,000. Spinnaker Trust purchased a new position in Altus Power in the fourth quarter worth $69,000. Allspring Global Investments Holdings LLC grew its stake in Altus Power by 196.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 13,319 shares of the company’s stock valued at $70,000 after purchasing an additional 8,826 shares during the period. Victory Capital Management Inc. purchased a new stake in shares of Altus Power during the 4th quarter valued at $72,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Altus Power by 805.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,193 shares of the company’s stock worth $76,000 after purchasing an additional 9,957 shares during the period. 46.55% of the stock is currently owned by 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.