Altus Power (NYSE:AMPS) Stock Price Down 7.7%

Altus Power, Inc. (NYSE:AMPS - Get Free Report) shares dropped 7.7% during trading on Wednesday . The company traded as low as $4.43 and last traded at $4.43. Approximately 290,097 shares were traded during trading, a decline of 72% from the average daily volume of 1,052,091 shares. The stock had previously closed at $4.80.

Wall Street Analyst Weigh In

AMPS has been the subject of a number of analyst reports. Maxim Group initiated coverage on shares of Altus Power in a research note on Wednesday. They set a "buy" rating and a $7.00 price target for the company. B. Riley raised their price target on shares of Altus Power from $8.00 to $10.00 and gave the stock a "buy" rating in a research note on Monday, February 5th. Finally, Roth Mkm cut their price target on shares of Altus Power from $8.00 to $7.00 and set a "buy" rating for the company in a research note on Friday, March 15th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $8.63.

Altus Power Stock Down 5.5 %

The business's fifty day simple moving average is $5.81 and its 200 day simple moving average is $5.64. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 2.33. The stock has a market cap of $721.43 million, a price-to-earnings ratio of -63.99 and a beta of 0.88.

Altus Power (NYSE:AMPS - Get Free Report) last released its earnings results 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 business had revenue of $34.19 million for the quarter, compared to analyst estimates of $42.85 million. Equities analysts forecast that Altus Power, Inc. will post -0.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other 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 acquisition, the chief executive officer now directly owns 11,894,603 shares of the company's stock, valued at $56,856,202.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Dustin Weber sold 4,350 shares of the business's stock in a transaction on 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 transaction, the chief financial officer now owns 1,884,926 shares of the company's stock, valued at approximately $13,477,220.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gregg J. Felton purchased 12,500 shares of the firm's stock in a transaction dated Thursday, March 28th. The stock was purchased at an average cost of $4.78 per share, with a total value of $59,750.00. Following 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. 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.

Hedge Funds Weigh In On Altus Power

Several institutional investors and hedge funds have recently made changes to their positions in AMPS. Vanguard Group Inc. boosted its stake in Altus Power by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 3,934,964 shares of the company's stock worth $26,876,000 after purchasing an additional 63,809 shares during the period. Goldman Sachs Group Inc. boosted its stake in Altus Power by 13.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 389,111 shares of the company's stock worth $2,658,000 after purchasing an additional 45,635 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Altus Power by 22.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 41,141 shares of the company's stock worth $281,000 after purchasing an additional 7,581 shares during the period. GSA Capital Partners LLP acquired a new position in Altus Power in the 4th quarter worth $269,000. Finally, Barclays PLC boosted its stake in Altus Power by 341.5% in the 4th quarter. Barclays PLC now owns 100,483 shares of the company's stock worth $685,000 after purchasing an additional 77,726 shares during the period. Institutional investors and hedge funds 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.