Altus Power (NYSE:AMPS) Trading Down 6% – Time to Sell?

Altus Power, Inc. (NYSE:AMPS) dropped 6% during trading on Tuesday . The company traded as low as $3.57 and last traded at $3.58. Approximately 569,863 shares traded hands during mid-day trading, a decline of 36% from the average daily volume of 885,724 shares. The stock had previously closed at $3.81.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AMPS shares. Roth Mkm restated a “buy” rating and set a $4.50 price objective on shares of Altus Power in a research report on Wednesday, October 16th. Citigroup reduced their price target on shares of Altus Power from $7.00 to $5.50 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. lowered Altus Power from a “neutral” rating to an “underweight” rating in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Altus Power currently has an average rating of “Moderate Buy” and an average price target of $5.21.

Altus Power Trading Down 5.1 %

The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10. The company’s fifty day moving average price is $4.00 and its two-hundred day moving average price is $3.66. The firm has a market cap of $581.29 million, a PE ratio of 16.39 and a beta of 1.05.

Institutional Investors Weigh In On Altus Power

Large investors have recently added to or reduced their stakes in the business. Iridian Asset Management LLC CT acquired a new position in Altus Power during the third quarter worth approximately $40,000. HighTower Advisors LLC purchased a new position in Altus Power in the third quarter valued at about $41,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Altus Power during the second quarter worth about $68,000. Intech Investment Management LLC bought a new stake in Altus Power during the third quarter valued at $86,000. Finally, SG Americas Securities LLC lifted its holdings in Altus Power by 135.9% in the third quarter. SG Americas Securities LLC now owns 30,146 shares of the company’s stock worth $96,000 after acquiring an additional 17,368 shares during the last quarter. 46.55% of the stock is owned by institutional investors and hedge funds.

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.