Altus Power, Inc. (NYSE:AMPS) Receives Average Rating of “Moderate Buy” from Brokerages

Altus Power, Inc. (NYSE:AMPS) has received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, five have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $5.21.

AMPS has been the subject of several analyst reports. Roth Mkm reaffirmed a “buy” rating and set a $4.50 price target on shares of Altus Power in a research note on Wednesday, October 16th. Citigroup lowered their target price on Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. lowered Altus Power from a “neutral” rating to an “underweight” rating in a research report on Thursday, December 12th.

Hedge Funds Weigh In On Altus Power

Institutional investors and hedge funds have recently modified their holdings of the business. Iridian Asset Management LLC CT acquired a new position in shares of Altus Power during the 3rd quarter valued at $40,000. HighTower Advisors LLC bought a new stake in Altus Power in the third quarter valued at $41,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Altus Power during the second quarter valued at about $68,000. Intech Investment Management LLC bought a new position in shares of Altus Power during the 3rd quarter worth about $86,000. Finally, SG Americas Securities LLC grew its stake in shares of Altus Power by 135.9% in the 3rd quarter. SG Americas Securities LLC now owns 30,146 shares of the company’s stock valued at $96,000 after buying an additional 17,368 shares during the period. 46.55% of the stock is currently owned by institutional investors.

Altus Power Stock Performance

Altus Power stock opened at $3.75 on Monday. The business has a 50 day moving average of $3.99 and a 200-day moving average of $3.64. The company has a market capitalization of $602.20 million, a P/E ratio of 17.02 and a beta of 1.05. Altus Power has a 1 year low of $2.71 and a 1 year high of $7.28. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.60 and a quick ratio of 0.60.

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.