Altus Power (NYSE:AMPS) Sets New 12-Month Low at $4.08

Altus Power, Inc. (NYSE:AMPS - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The stock 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.

Analysts Set New Price Targets

AMPS has been the subject of several analyst reports. B. Riley boosted their price objective on Altus Power from $8.00 to $10.00 and gave the stock a "buy" rating in a research report on Monday, February 5th. Morgan Stanley reiterated an "overweight" rating and set a $9.00 price objective on shares of Altus Power in a research report on Thursday. Roth Mkm cut their target price on shares of Altus Power from $8.00 to $7.00 and set a "buy" rating on the stock in a research note on Friday, March 15th. Finally, Maxim Group started coverage on shares of Altus Power in a research note on Wednesday, April 10th. They set a "buy" rating and a $7.00 target price on the stock. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $8.63.

Altus Power Price Performance

The company has a debt-to-equity ratio of 2.33, a current ratio of 2.15 and a quick ratio of 2.15. The firm's fifty day moving average price is $5.75 and its 200-day moving average price is $5.61.

Altus Power (NYSE:AMPS - Get Free Report) last announced its earnings results on Thursday, March 14th. The company reported ($0.04) earnings per share 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 company 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 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Gregg J. Felton purchased 12,500 shares of Altus Power stock in a transaction that occurred on Thursday, March 28th. The shares were acquired at an average price of $4.78 per share, for a total transaction of $59,750.00. Following the transaction, the chief executive officer now owns 11,894,603 shares of the company's stock, valued at approximately $56,856,202.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Lars Norell sold 40,000 shares of Altus Power stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $5.58, for a total transaction of $223,200.00. Following the completion of the transaction, the chief executive officer now owns 21,654,907 shares of the company's stock, valued at $120,834,381.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gregg J. Felton purchased 12,500 shares of Altus Power stock in a transaction on Thursday, March 28th. The stock was bought at an average price of $4.78 per share, with a total value of $59,750.00. Following the completion of the acquisition, the chief executive officer now directly owns 11,894,603 shares of the company's stock, valued at approximately $56,856,202.34. The disclosure for this purchase can be found here. Insiders have sold a total of 83,673 shares of company stock worth $530,948 in the last quarter. Corporate insiders own 31.55% of the company's stock.

Institutional Trading of Altus Power

Hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. purchased a new position in Altus Power in the 1st quarter worth approximately $39,000. Bank of New York Mellon Corp bought a new stake in Altus Power during the 1st quarter valued at $107,000. Oppenheimer & Co. Inc. raised its holdings in Altus Power by 33.3% during the 1st quarter. Oppenheimer & Co. Inc. now owns 20,000 shares of the company's stock valued at $149,000 after buying an additional 5,000 shares during the last quarter. Citigroup Inc. bought a new stake in Altus Power during the 1st quarter valued at $67,000. Finally, Vanguard Group Inc. bought a new stake in Altus Power during the 1st quarter valued at $12,973,000. 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.