Altus Power’s (AMPS) “Buy” Rating Reaffirmed at Roth Mkm

Altus Power (NYSE:AMPS)‘s stock had its “buy” rating reissued by Roth Mkm in a report released on Tuesday, Benzinga reports. They currently have a $7.00 price objective on the stock. Roth Mkm’s price target indicates a potential upside of 89.70% from the stock’s previous close.

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

Altus Power Stock Performance

Shares of Altus Power stock opened at $3.69 on Tuesday. The firm has a market cap of $587.01 million, a PE ratio of -52.71 and a beta of 0.88. Altus Power has a 52 week low of $3.40 and a 52 week high of $7.28. The business’s fifty day simple moving average is $5.14 and its 200-day simple moving average is $5.53. 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 (NYSE:AMPS) last announced its quarterly earnings results on Thursday, March 14th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). Altus Power had a negative net margin of 6.03% and a negative return on equity of 0.30%. The company had revenue of $34.19 million for the quarter, compared to analyst estimates of $42.85 million. Equities analysts forecast that Altus Power will post -0.11 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Gregg J. Felton acquired 12,500 shares of Altus Power stock in a transaction dated Thursday, March 28th. The shares were acquired at an average cost of $4.78 per share, for a total transaction of $59,750.00. Following the acquisition, the chief executive officer now owns 11,894,603 shares of the company’s stock, valued at $56,856,202.34. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Lars Norell sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $5.58, for a total value of $223,200.00. Following the completion of the transaction, the chief executive officer now directly owns 21,654,907 shares of the company’s stock, valued at $120,834,381.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregg J. Felton purchased 12,500 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was bought at an average price of $4.78 per share, for a total transaction of $59,750.00. Following the completion of the purchase, the chief executive officer now directly owns 11,894,603 shares of the company’s stock, valued at $56,856,202.34. The disclosure for this purchase can be found here. Insiders sold 83,673 shares of company stock worth $530,948 in the last 90 days. Corporate insiders own 24.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AMPS. DekaBank Deutsche Girozentrale purchased a new position in Altus Power during the 4th quarter worth approximately $3,671,000. Vanguard Group Inc. increased its holdings in shares of Altus Power by 12.8% in the 3rd quarter. Vanguard Group Inc. now owns 3,871,155 shares of the company’s stock valued at $20,324,000 after acquiring an additional 438,845 shares during the period. abrdn plc increased its holdings 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 acquiring an additional 572,300 shares during the period. ANTIPODES PARTNERS Ltd raised its position in Altus Power by 292.1% in the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 25,503 shares of the company’s stock valued at $127,000 after purchasing an additional 18,999 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in Altus Power by 32.3% during the 4th quarter. SG Americas Securities LLC now owns 35,309 shares of the company’s stock worth $241,000 after purchasing an additional 8,617 shares during the period. Institutional investors and hedge funds own 46.55% of the company’s stock.

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.