Altus Power (NYSE:AMPS) Stock Price Down 6% – What’s Next?

Altus Power, Inc. (NYSE:AMPS) was down 6% during mid-day trading on Tuesday . The company traded as low as $3.57 and last traded at $3.58. Approximately 569,863 shares were traded during trading, a decline of 36% from the average daily volume of 885,724 shares. The stock had previously closed at $3.81.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AMPS. JPMorgan Chase & Co. lowered shares of Altus Power from a “neutral” rating to an “underweight” rating in a report on Thursday, December 12th. Roth Mkm reissued a “buy” rating and issued a $4.50 price target on shares of Altus Power in a research report on Wednesday, October 16th. Finally, Citigroup dropped 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Altus Power presently has an average rating of “Moderate Buy” and an average target price of $5.21.

Altus Power Stock Up 11.6 %

The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market capitalization of $593.83 million, a price-to-earnings ratio of 16.79 and a beta of 1.05. The business’s 50 day moving average is $3.99 and its 200 day moving average is $3.65.

Institutional Investors Weigh In On Altus Power

A number of institutional investors and hedge funds have recently modified their holdings of AMPS. Iridian Asset Management LLC CT purchased a new position in shares of Altus Power during the 3rd quarter valued at approximately $40,000. HighTower Advisors LLC acquired a new position in shares of Altus Power in the 3rd quarter valued at $41,000. Susquehanna Fundamental Investments LLC purchased a new position in Altus Power during the second quarter worth about $68,000. Intech Investment Management LLC purchased a new position in shares of Altus Power during the 3rd quarter worth approximately $86,000. Finally, SG Americas Securities LLC boosted its position in shares of Altus Power by 135.9% during the third quarter. SG Americas Securities LLC now owns 30,146 shares of the company’s stock worth $96,000 after buying an additional 17,368 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.