Roth Mkm Reaffirms Buy Rating for Altus Power (NYSE:AMPS)

Roth Mkm restated their buy rating on shares of Altus Power (NYSE:AMPS) in a research note issued to investors on Wednesday, Benzinga reports. Roth Mkm currently has a $4.50 price objective on the stock.

Several other brokerages have also issued reports on AMPS. Maxim Group cut their price target on Altus Power from $5.50 to $4.50 and set a “buy” rating on the stock in a report on Monday, August 12th. B. Riley upgraded Altus Power to a “strong-buy” rating in a report on Tuesday, June 25th. Morgan Stanley lowered Altus Power from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $8.00 to $4.00 in a report on Wednesday, August 21st. Finally, UBS Group cut their price target on Altus Power from $5.50 to $5.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $6.00.

Altus Power Trading Up 0.6 %

NYSE AMPS opened at $3.62 on Wednesday. The business has a 50 day simple moving average of $3.16 and a 200 day simple moving average of $3.79. Altus Power has a one year low of $2.71 and a one year high of $7.28. The stock has a market capitalization of $581.63 million, a P/E ratio of -72.40 and a beta of 0.96. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.91 and a quick ratio of 0.91.

Altus Power (NYSE:AMPS) last released its earnings results on Thursday, August 8th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.03 by $0.13. The business had revenue of $52.46 million during the quarter, compared to analysts’ expectations of $57.61 million. Altus Power had a return on equity of 2.52% and a net margin of 13.55%. Research analysts expect that Altus Power will post 0.08 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Triad Investment Management increased its position in shares of Altus Power by 48.2% during the first quarter. Triad Investment Management now owns 58,023 shares of the company’s stock valued at $277,000 after acquiring an additional 18,879 shares during the last quarter. Bouvel Investment Partners LLC increased its position in shares of Altus Power by 2.8% during the first quarter. Bouvel Investment Partners LLC now owns 305,673 shares of the company’s stock valued at $1,461,000 after acquiring an additional 8,295 shares during the last quarter. ANTIPODES PARTNERS Ltd increased its position in shares of Altus Power by 17.0% during the first quarter. ANTIPODES PARTNERS Ltd now owns 35,198 shares of the company’s stock valued at $168,000 after acquiring an additional 5,116 shares during the last quarter. Edmond DE Rothschild Holding S.A. increased its position in shares of Altus Power by 38.4% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 428,963 shares of the company’s stock valued at $2,050,000 after acquiring an additional 118,963 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Altus Power by 15.2% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 259,441 shares of the company’s stock valued at $1,240,000 after acquiring an additional 34,244 shares during 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.