Altus Power (NYSE:AMPS) PT Lowered to $7.00

Altus Power (NYSE:AMPS - Free Report) had its target price trimmed by B. Riley from $10.00 to $7.00 in a research report report published on Monday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages also recently weighed in on AMPS. Maxim Group began coverage on Altus Power in a research report on Wednesday, April 10th. They set a buy rating and a $7.00 price objective for the company. Morgan Stanley reiterated an overweight rating and issued a $9.00 target price on shares of Altus Power in a research report on Thursday, April 11th. Finally, Roth Mkm dropped their target price on Altus Power from $8.00 to $7.00 and set a buy rating for the company in a research report on Friday, March 15th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of Buy and an average price target of $8.25.

Altus Power Price Performance

Shares of NYSE:AMPS traded down $0.16 during trading on Monday, reaching $3.62. 1,101,397 shares of the company traded hands, compared to its average volume of 1,091,977. The company's 50 day moving average is $5.48 and its two-hundred day moving average is $5.57. The firm has a market capitalization of $575.87 million, a PE ratio of -51.71 and a beta of 0.88. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 2.33. Altus Power has a 52 week low of $3.61 and a 52 week high of $7.28.

Altus Power (NYSE:AMPS - Get Free Report) last announced its quarterly earnings data on Thursday, March 14th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $34.19 million for the quarter, compared to the consensus estimate of $42.85 million. As a group, sell-side analysts predict that Altus Power will post -0.1 earnings per share for the current year.

Insider Buying and Selling at Altus Power

In other news, CFO Dustin Weber sold 4,350 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $7.15, for a total value 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 $13,477,220.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Gregg J. Felton purchased 12,500 shares of the firm's stock in a transaction dated 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 purchase, the chief executive officer now owns 11,894,603 shares in the company, valued at approximately $56,856,202.34. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Dustin Weber sold 4,350 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $7.15, for a total value of $31,102.50. Following the completion of the sale, the chief financial officer now directly 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. Over the last three months, insiders sold 83,673 shares of company stock worth $530,948. 31.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Altus Power

Several institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in Altus Power during the third quarter worth approximately $140,000. DAVENPORT & Co LLC acquired a new stake in Altus Power during the third quarter worth approximately $580,000. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in Altus Power by 73.5% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 146,443 shares of the company's stock worth $769,000 after purchasing an additional 62,038 shares during the period. Bank of New York Mellon Corp grew its stake in Altus Power by 2.5% during the third quarter. Bank of New York Mellon Corp now owns 202,360 shares of the company's stock worth $1,062,000 after purchasing an additional 4,864 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Altus Power by 7.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,933 shares of the company's stock worth $267,000 after purchasing an additional 3,571 shares during the period. Institutional investors and hedge funds own 46.55% of the company's stock.

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.