Altus Power (NYSE:AMPS) Sets New 1-Year Low at $4.08

Altus Power, Inc. (NYSE:AMPS)’s stock price hit a new 52-week low on Monday . The company traded as low as $4.08 and last traded at $4.08, with a volume of 71212 shares. The stock had previously closed at $4.21.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AMPS shares. Maxim Group started coverage on shares of Altus Power in a report on Wednesday, April 10th. They set a “buy” rating and a $7.00 target price for the company. Morgan Stanley restated an “overweight” rating and set a $9.00 target price on shares of Altus Power in a report on Thursday, April 11th. Roth Mkm reduced their target price on shares of Altus Power from $8.00 to $7.00 and set a “buy” rating for the company in a report on Friday, March 15th. Finally, B. Riley raised their target price on shares of Altus Power from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $8.63.

Altus Power Stock Down 5.7 %

The business’s 50 day moving average is $5.68 and its 200 day moving average is $5.60. The company has a debt-to-equity ratio of 2.33, a quick ratio of 2.15 and a current ratio of 2.15. The stock has a market cap of $592.57 million, a price-to-earnings ratio of -53.21 and a beta of 0.88.

Altus Power (NYSE:AMPS) last posted its quarterly earnings data on Thursday, March 14th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). Altus Power had a negative return on equity of 0.30% and a negative net margin of 6.03%. The firm had revenue of $34.19 million during the quarter, compared to analyst estimates of $42.85 million. Equities analysts expect that Altus Power, Inc. will post -0.1 earnings per share for the current year.

Insider Buying and Selling

In other Altus Power news, insider Anthony Savino sold 34,725 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $7.02, for a total value of $243,769.50. Following the completion of the sale, the insider now owns 3,907,536 shares in the company, valued at approximately $27,430,902.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Altus Power news, insider Anthony Savino sold 34,725 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $7.02, for a total value of $243,769.50. Following the completion of the sale, the insider now owns 3,907,536 shares in the company, valued at approximately $27,430,902.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Dustin Weber sold 4,350 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $7.15, for a total transaction of $31,102.50. Following the completion of the sale, the chief financial officer now owns 1,884,926 shares of the company’s stock, valued at approximately $13,477,220.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 83,673 shares of company stock valued at $530,948. Company insiders own 31.55% of the company’s stock.

Institutional Investors Weigh In On Altus Power

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMPS. Bouvel Investment Partners LLC raised its holdings in shares of Altus Power by 2.8% during the 1st quarter. Bouvel Investment Partners LLC now owns 305,673 shares of the company’s stock valued at $1,461,000 after purchasing an additional 8,295 shares in the last quarter. Triad Investment Management raised its holdings in shares of Altus Power by 48.2% during the 1st quarter. Triad Investment Management now owns 58,023 shares of the company’s stock valued at $277,000 after purchasing an additional 18,879 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Altus Power by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 3,934,964 shares of the company’s stock valued at $26,876,000 after purchasing an additional 63,809 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Altus Power by 13.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 389,111 shares of the company’s stock valued at $2,658,000 after purchasing an additional 45,635 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Altus Power by 22.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 41,141 shares of the company’s stock valued at $281,000 after purchasing an additional 7,581 shares in the last quarter. Hedge funds and other 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.