Altus Power (NYSE:AMPS) Trading Up 3.5% – Here’s What Happened

Shares of Altus Power, Inc. (NYSE:AMPS) shot up 3.5% on Thursday . The stock traded as high as $3.44 and last traded at $3.43. 76,773 shares were traded during trading, a decline of 93% from the average session volume of 1,032,086 shares. The stock had previously closed at $3.31.

Analysts Set New Price Targets

AMPS has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut Altus Power from a “neutral” rating to an “underweight” rating in a research note on Thursday, December 12th. Roth Mkm reissued a “buy” rating and set a $4.50 target price on shares of Altus Power in a research note on Wednesday, October 16th. Finally, Citigroup cut their price target on shares of Altus Power from $7.00 to $5.50 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $5.21.

Altus Power Stock Up 1.5 %

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 $602.20 million, a P/E ratio of 17.02 and a beta of 1.05. The firm’s 50 day moving average price is $3.99 and its two-hundred day moving average price is $3.65.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Iridian Asset Management LLC CT acquired a new position in shares of Altus Power during the 3rd quarter worth about $40,000. HighTower Advisors LLC acquired a new position in Altus Power during the third quarter valued at approximately $41,000. Susquehanna Fundamental Investments LLC bought a new position in Altus Power in the second quarter valued at approximately $68,000. Intech Investment Management LLC acquired a new position in shares of Altus Power during the 3rd quarter worth approximately $86,000. Finally, SG Americas Securities LLC raised its stake in shares of Altus Power by 135.9% during the 3rd quarter. SG Americas Securities LLC now owns 30,146 shares of the company’s stock worth $96,000 after purchasing an additional 17,368 shares in the last quarter. Institutional investors 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.