Altus Power (NYSE:AMPS) Sees Strong Trading Volume – Here’s What Happened

Altus Power, Inc. (NYSE:AMPS) saw strong trading volume on Wednesday . 5,130,262 shares were traded during mid-day trading, an increase of 205% from the previous session’s volume of 1,680,100 shares.The stock last traded at $4.98 and had previously closed at $4.96.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on AMPS shares. Roth Capital downgraded Altus Power from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. Roth Mkm reaffirmed a “neutral” rating and issued a $5.00 price target on shares of Altus Power in a research note on Friday, March 21st. UBS Group downgraded Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 price objective for the company. in a research report on Monday, February 10th. B. Riley cut shares of Altus Power from a “buy” rating to a “neutral” rating and cut their target price for the stock from $6.00 to $5.00 in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. upgraded shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a report on Thursday, February 6th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $5.13.

Altus Power Price Performance

The company has a market cap of $801.30 million, a PE ratio of 22.70 and a beta of 0.94. The business has a 50 day moving average of $4.89 and a 200 day moving average of $4.13. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.60 and a quick ratio of 0.60.

Altus Power (NYSE:AMPS) last posted its earnings results on Monday, March 17th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.28). The company had revenue of $44.47 million during the quarter, compared to analysts’ expectations of $46.64 million. Altus Power had a return on equity of 4.79% and a net margin of 19.18%. As a group, research analysts predict that Altus Power, Inc. will post 0.14 EPS for the current year.

Insiders Place Their Bets

In other Altus Power news, insider Anthony Savino sold 8,823 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $4.91, for a total transaction of $43,320.93. Following the completion of the sale, the insider now 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Gregg J. Felton sold 87,048 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $4.96, for a total transaction of $431,758.08. Following the sale, the chief executive officer now owns 3,852,712 shares in the company, valued at approximately $19,109,451.52. The trade was a 2.21 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 221,422 shares of company stock valued at $1,093,796. 24.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Altus Power

A number of hedge funds and other institutional investors have recently modified their holdings of AMPS. HighTower Advisors LLC bought a new position in Altus Power in the 3rd quarter worth $41,000. Janus Henderson Group PLC boosted 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 valued at $142,000 after acquiring an additional 3,709 shares during the last quarter. State Street Corp increased its position in Altus Power by 0.6% in the third quarter. State Street Corp now owns 3,682,864 shares of the company’s stock worth $11,712,000 after purchasing an additional 21,312 shares during the last quarter. XTX Topco Ltd purchased a new stake in Altus Power during the third quarter valued at $425,000. Finally, Barclays PLC raised its stake in Altus Power by 312.8% during the third quarter. Barclays PLC now owns 115,987 shares of the company’s stock valued at $369,000 after purchasing an additional 87,886 shares in the last quarter. 46.55% of the stock is 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.