B. Riley Lowers Altus Power (NYSE:AMPS) Price Target to $6.00

Altus Power (NYSE:AMPS - Free Report) had its target price cut by B. Riley from $7.00 to $6.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. cut shares of Altus Power from an overweight rating to a neutral rating in a research note on Wednesday. Morgan Stanley restated an overweight rating and set a $9.00 target price on shares of Altus Power in a research report on Thursday, April 11th. Roth Mkm reaffirmed a buy rating and set a $7.00 price objective on shares of Altus Power in a report on Tuesday, April 30th. Maxim Group assumed coverage on Altus Power in a research note on Wednesday, April 10th. They issued a buy rating and a $7.00 target price on the stock. Finally, Evercore ISI cut their price target on shares of Altus Power from $9.00 to $7.00 and set an outperform rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $7.75.

Altus Power Trading Down 1.2 %

Shares of NYSE AMPS traded down $0.05 during midday trading on Wednesday, reaching $4.17. The company had a trading volume of 1,393,324 shares, compared to its average volume of 1,145,016. Altus Power has a one year low of $3.40 and a one year high of $7.28. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.47. The firm's fifty day moving average price is $4.56 and its 200-day moving average price is $5.45. The stock has a market cap of $663.36 million, a PE ratio of -83.38 and a beta of 0.98.

Altus Power (NYSE:AMPS - Get Free Report) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.08) EPS for the quarter, hitting analysts' consensus estimates of ($0.08). Altus Power had a negative return on equity of 1.37% and a negative net margin of 4.48%. The business had revenue of $40.66 million during the quarter, compared to analysts' expectations of $39.13 million. During the same quarter in the prior year, the business posted ($0.05) earnings per share. On average, equities research analysts anticipate that Altus Power will post -0.11 earnings per share for the current year.

Insider Transactions at Altus Power

In related news, CEO Gregg J. Felton bought 12,500 shares of the firm's stock in a transaction on Thursday, March 28th. The shares were purchased 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 legal filing with the SEC, which is available at the SEC website. In other Altus Power news, insider Anthony Savino sold 4,598 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $7.15, for a total transaction of $32,875.70. Following the transaction, the insider now directly owns 3,887,663 shares in the company, valued at $27,796,790.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gregg J. Felton purchased 12,500 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were purchased 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 in the company, valued at $56,856,202.34. The disclosure for this purchase can be found here. Insiders own 24.30% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Edmond DE Rothschild Holding S.A. boosted its stake in Altus Power by 1.0% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 310,000 shares of the company's stock valued at $2,117,000 after buying an additional 3,000 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Altus Power by 7.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 44,257 shares of the company's stock valued at $212,000 after buying an additional 3,116 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of 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 valued at $267,000 after buying an additional 3,571 shares during the last quarter. AXQ Capital LP raised its position in Altus Power by 25.5% during the 3rd quarter. AXQ Capital LP now owns 21,078 shares of the company's stock worth $111,000 after buying an additional 4,278 shares during the last quarter. Finally, Bouvel Investment Partners LLC boosted its stake in shares of Altus Power by 1.5% in the fourth quarter. Bouvel Investment Partners LLC now owns 297,378 shares of the company's stock worth $2,031,000 after buying an additional 4,495 shares during the last quarter. 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.