Altus Power, Inc. (NYSE:AMPS) Receives $8.25 Average Price Target from Analysts

Shares of Altus Power, Inc. (NYSE:AMPS) have been given an average rating of “Buy” by the seven research firms that are covering the firm, MarketBeat reports. Seven analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $8.25.

AMPS has been the topic of a number of recent analyst reports. B. Riley decreased their price objective on Altus Power from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $9.00 price target on shares of Altus Power in a research note on Thursday, April 11th. Maxim Group assumed coverage on 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, Roth Mkm reiterated a “buy” rating and set a $7.00 price target on shares of Altus Power in a research report on Tuesday.

Insider Buying and Selling

In related news, insider Anthony Savino sold 34,725 shares of Altus Power stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $7.02, for a total value of $243,769.50. Following the completion of the transaction, the insider now directly owns 3,907,536 shares in the company, valued at $27,430,902.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Gregg J. Felton purchased 12,500 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were bought at an average price of $4.78 per share, for a total transaction of $59,750.00. Following the acquisition, the chief executive officer now directly owns 11,894,603 shares in the company, valued at $56,856,202.34. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anthony Savino sold 34,725 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $7.02, for a total value of $243,769.50. Following the sale, the insider now owns 3,907,536 shares in the company, valued at approximately $27,430,902.72. The disclosure for this sale can be found here. Insiders have sold a total of 43,673 shares of company stock valued at $307,748 in the last ninety days. Company insiders own 24.30% of the company’s stock.

Institutional Investors Weigh In On Altus Power

Several large investors have recently bought and sold shares of AMPS. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Altus Power in the 3rd quarter valued at about $41,000. Spinnaker Trust acquired a new stake in shares of Altus Power in the 4th quarter valued at about $69,000. Allspring Global Investments Holdings LLC boosted its position in shares of 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. acquired a new stake in Altus Power during the 4th quarter worth approximately $72,000. Finally, Tower Research Capital LLC TRC lifted its position in 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 acquiring an additional 9,957 shares during the period. Hedge funds and other institutional investors own 46.55% of the company’s stock.

Altus Power Trading Up 9.8 %

Shares of AMPS stock opened at $4.35 on Friday. The company has a current ratio of 2.15, a quick 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 company’s 50-day moving average price is $4.96 and its 200-day moving average price is $5.50. The stock has a market cap of $692.00 million, a price-to-earnings ratio of -60.42 and a beta of 0.98.

Altus Power (NYSE:AMPS) last issued its 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). Altus Power had a negative return on equity of 0.30% and a negative net margin of 6.03%. The firm had revenue of $34.19 million for the quarter, compared to analysts’ expectations of $42.85 million. As a group, equities analysts predict that Altus Power will post -0.11 earnings per share for the current year.

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.