Altus Power (NYSE:AMPS) Trading 11.8% Higher – Still a Buy?

Altus Power, Inc. (NYSE:AMPS) rose 11.8% on Monday . The stock traded as high as $4.40 and last traded at $3.97. Approximately 2,036,637 shares traded hands during trading, an increase of 86% from the average daily volume of 1,093,010 shares. The stock had previously closed at $3.55.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Citigroup cut their price target on Altus Power from $7.00 to $5.50 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Roth Mkm reissued a “buy” rating and set a $4.50 target price on shares of Altus Power in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. downgraded shares of Altus Power from a “neutral” rating to an “underweight” rating in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Altus Power currently has an average rating of “Moderate Buy” and an average target price of $5.21.

Altus Power Trading Up 1.0 %

The business has a fifty day moving average of $3.77 and a 200-day moving average of $3.67. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market capitalization of $662.48 million, a P/E ratio of 18.73 and a beta of 1.04.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its stake in Altus Power by 37.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,974,269 shares of the company’s stock valued at $11,662,000 after purchasing an additional 807,071 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in 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 valued at $5,531,000 after purchasing an additional 745,810 shares during the period. Long Focus Capital Management LLC raised its stake in Altus Power by 427.6% in the 2nd quarter. Long Focus Capital Management LLC now owns 549,081 shares of the company’s stock valued at $2,152,000 after acquiring an additional 445,000 shares during the period. Jupiter Asset Management Ltd. bought a new position in Altus Power during the second quarter worth about $1,085,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in shares of Altus Power by 78.8% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 437,286 shares of the company’s stock worth $1,714,000 after purchasing an additional 192,687 shares in the last quarter. 46.55% of the stock is currently owned by institutional investors and hedge funds.

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.