Altus Power (NYSE:AMPS) Lowered to Hold Rating by Roth Capital

Altus Power (NYSE:AMPS) was downgraded by stock analysts at Roth Capital from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

Several other brokerages have also weighed in on AMPS. JPMorgan Chase & Co. raised Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a report on Thursday, February 6th. Seaport Res Ptn lowered Altus Power from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. Roth Mkm reaffirmed a “neutral” rating and issued a $5.00 price objective on shares of Altus Power in a report on Friday. B. Riley cut shares of Altus Power from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $6.00 to $5.00 in a report on Friday, February 7th. Finally, UBS Group lowered shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 price target for the company. in a report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Altus Power has a consensus rating of “Hold” and an average target price of $5.13.

Altus Power Stock Performance

Altus Power stock opened at $4.95 on Thursday. Altus Power has a 52 week low of $2.71 and a 52 week high of $5.50. 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 market cap of $795.14 million, a P/E ratio of 22.48 and a beta of 0.98. The stock has a 50 day moving average of $4.52 and a 200-day moving average of $3.94.

Altus Power (NYSE:AMPS) last posted its quarterly earnings data on Monday, March 17th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). The company had revenue of $44.47 million for the quarter, compared to the consensus estimate of $46.64 million. Altus Power had a net margin of 19.18% and a return on equity of 4.79%. On average, analysts expect that Altus Power will post 0.14 EPS for the current fiscal year.

Insider Activity at Altus Power

In other Altus Power news, CEO Gregg J. Felton sold 71,161 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total transaction of $349,400.51. Following the completion of the transaction, the chief executive officer now owns 4,023,696 shares in the company, valued at approximately $19,756,347.36. The trade was a 1.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Anthony Savino sold 8,823 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total value of $43,320.93. Following the completion of the transaction, the insider now directly owns 4,088,231 shares of the company’s stock, valued at approximately $20,073,214.21. The trade was a 0.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,146 shares of company stock worth $437,707 in the last ninety days. 24.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Altus Power

Institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC raised its position in shares of Altus Power by 9.0% during the 3rd quarter. Janus Henderson Group PLC now owns 44,792 shares of the company’s stock worth $142,000 after buying an additional 3,709 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Altus Power by 8.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 54,512 shares of the company’s stock valued at $222,000 after acquiring an additional 4,395 shares during the period. ProShare Advisors LLC raised its holdings in Altus Power by 11.5% during the fourth quarter. ProShare Advisors LLC now owns 49,869 shares of the company’s stock worth $203,000 after purchasing an additional 5,143 shares in the last quarter. SG Americas Securities LLC lifted its position in Altus Power by 19.6% in the fourth quarter. SG Americas Securities LLC now owns 36,058 shares of the company’s stock worth $147,000 after purchasing an additional 5,912 shares during the period. Finally, Pictet Asset Management Holding SA boosted its stake in Altus Power by 23.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 34,656 shares of the company’s stock valued at $141,000 after purchasing an additional 6,524 shares in the last quarter. Institutional investors and hedge funds 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.