Altus Power (NYSE:AMPS) Stock Price Up 11.8% – Here’s What Happened

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

Analysts Set New Price Targets

A number of research firms have commented on AMPS. Citigroup lowered their target price on shares of Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Roth Mkm reaffirmed 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. lowered shares of Altus Power from a “neutral” rating to an “underweight” rating in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $5.21.

Altus Power Stock Up 12.4 %

The company has a market cap of $641.58 million, a price-to-earnings ratio of 18.14 and a beta of 1.04. The firm’s fifty day moving average price is $3.73 and its 200-day moving average price is $3.67. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.10.

Institutional Investors Weigh In On Altus Power

Several institutional investors have recently added to or reduced their stakes in AMPS. Summit Securities Group LLC bought a new stake in Altus Power in the 2nd quarter valued at $39,000. Iridian Asset Management LLC CT bought a new stake in Altus Power during the 3rd quarter worth about $40,000. HighTower Advisors LLC bought a new stake in Altus Power during the 3rd quarter worth about $41,000. Vaughan David Investments LLC IL bought a new stake in Altus Power during the 2nd quarter worth about $55,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Altus Power during the 2nd quarter worth about $68,000. 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.