Altus Power, Inc. (NYSE:AMPS) Receives Average Rating of “Buy” from Brokerages

Altus Power, Inc. (NYSE:AMPS) has received a consensus rating of “Buy” from the ten ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, six have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $5.81.

Several analysts have recently weighed in on the stock. Morgan Stanley lowered shares of Altus Power from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $8.00 to $4.00 in a research note on Wednesday, August 21st. Maxim Group dropped their price target on shares of Altus Power from $5.50 to $4.50 and set a “buy” rating on the stock in a research note on Monday, August 12th. Citigroup reduced their price objective on shares of Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. UBS Group dropped their target price on Altus Power from $5.50 to $5.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Roth Mkm reiterated a “buy” rating and issued a $4.50 price target on shares of Altus Power in a research report on Wednesday, October 16th.

Altus Power Stock Performance

AMPS stock opened at $3.88 on Wednesday. Altus Power has a 1-year low of $2.71 and a 1-year high of $7.28. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.10. The stock has a 50-day moving average price of $3.38 and a 200-day moving average price of $3.69. The firm has a market cap of $623.05 million, a PE ratio of 17.61 and a beta of 0.94.

Hedge Funds Weigh In On Altus Power

A number of institutional investors have recently made changes to their positions in AMPS. Swedbank AB bought a new stake in shares of Altus Power during the 1st quarter worth $12,589,000. Dimensional Fund Advisors LP lifted its stake in Altus Power by 37.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,974,269 shares of the company’s stock worth $11,662,000 after purchasing an additional 807,071 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its stake 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 worth $5,531,000 after purchasing an additional 745,810 shares during the last quarter. Long Focus Capital Management LLC boosted its holdings in shares of Altus Power by 427.6% in the 2nd quarter. Long Focus Capital Management LLC now owns 549,081 shares of the company’s stock worth $2,152,000 after purchasing an additional 445,000 shares in the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in shares of Altus Power during the 2nd quarter valued at about $1,085,000. Institutional investors own 46.55% of the company’s stock.

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.