Altus Power (NYSE:AMPS) Shares Gap Down – Time to Sell?

Altus Power, Inc. (NYSE:AMPS)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $3.59, but opened at $3.49. Altus Power shares last traded at $3.47, with a volume of 90,805 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on AMPS shares. Roth Mkm restated a “buy” rating and set a $4.50 target price on shares of Altus Power in a research report on Wednesday, October 16th. Citigroup decreased their price objective on 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. cut Altus Power from a “neutral” rating to an “underweight” rating in a report on Thursday, December 12th. One 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $5.21.

Altus Power Stock Performance

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 company has a market capitalization of $558.78 million, a PE ratio of 15.80 and a beta of 1.05. The firm’s 50-day simple moving average is $4.01 and its 200-day simple moving average is $3.66.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Iridian Asset Management LLC CT bought a new position in shares of Altus Power during the 3rd quarter worth $40,000. HighTower Advisors LLC purchased a new stake in Altus Power in the third quarter worth about $41,000. Susquehanna Fundamental Investments LLC bought a new position in Altus Power during the 2nd quarter worth about $68,000. Intech Investment Management LLC purchased a new position in Altus Power during the 3rd quarter valued at about $86,000. Finally, SG Americas Securities LLC raised its holdings in shares of Altus Power by 135.9% in the 3rd quarter. SG Americas Securities LLC now owns 30,146 shares of the company’s stock valued at $96,000 after purchasing an additional 17,368 shares in the last quarter. 46.55% of the stock is currently owned by hedge funds and other 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.