Altus Power (NYSE:AMPS) Coverage Initiated at Maxim Group

Maxim Group began coverage on shares of Altus Power (NYSE:AMPS - Free Report) in a research note issued to investors on Wednesday, MarketBeat reports. The firm issued a buy rating and a $7.00 target price on the stock.

AMPS has been the subject of several other research reports. B. Riley upped their target price on Altus Power from $8.00 to $10.00 and gave the stock a buy rating in a research report on Monday, February 5th. Roth Mkm cut their price target on Altus Power from $8.00 to $7.00 and set a buy rating on the stock in a research note on Friday, March 15th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus price target of $8.63.

Altus Power Trading Down 5.5 %

Altus Power stock traded down $0.26 during midday trading on Wednesday, reaching $4.54. The stock had a trading volume of 951,972 shares, compared to its average volume of 1,062,720. Altus Power has a twelve month low of $4.08 and a twelve month high of $7.28. The stock has a market capitalization of $721.43 million, a PE ratio of -64.78 and a beta of 0.88. 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's 50-day simple moving average is $5.80 and its 200 day simple moving average is $5.63.

Altus Power (NYSE:AMPS - Get Free Report) last issued 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 company had revenue of $34.19 million for the quarter, compared to analyst estimates of $42.85 million. Analysts expect that Altus Power will post -0.09 EPS for the current year.

Insider Buying and Selling

In other news, CEO Gregg J. Felton acquired 12,500 shares of the business's stock in a transaction on Thursday, March 28th. The shares were purchased at an average price of $4.78 per share, for a total transaction of $59,750.00. Following the completion of the purchase, the chief executive officer now directly 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 through the SEC website. In other Altus Power news, CEO Lars Norell sold 40,000 shares of the company's stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $5.58, for a total transaction of $223,200.00. Following the sale, the chief executive officer now owns 21,654,907 shares in the company, valued at $120,834,381.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gregg J. Felton acquired 12,500 shares of the business's stock in a transaction on Thursday, March 28th. The shares were purchased at an average price of $4.78 per share, for a total transaction of $59,750.00. Following the purchase, the chief executive officer now directly owns 11,894,603 shares of the company's stock, valued at $56,856,202.34. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 83,673 shares of company stock worth $530,948. 31.55% of the stock is currently owned by corporate insiders.

Institutional Trading of Altus Power

A number of institutional investors and hedge funds have recently made changes to their positions in AMPS. Ensign Peak Advisors Inc acquired a new stake in shares of Altus Power during the 3rd quarter worth approximately $26,000. Advisors Asset Management Inc. bought a new position in Altus Power in the 4th quarter worth approximately $37,000. JPMorgan Chase & Co. bought a new position in Altus Power in the 1st quarter worth approximately $39,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Altus Power in the 3rd quarter worth approximately $41,000. Finally, Point72 Middle East FZE bought a new position in Altus Power in the 4th quarter worth approximately $41,000. 46.55% of the stock is currently owned by institutional investors and hedge funds.

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.