Altus Power's (AMPS) Overweight Rating Reaffirmed at Morgan Stanley

Altus Power (NYSE:AMPS - Get Free Report)'s stock had its "overweight" rating reaffirmed by stock analysts at Morgan Stanley in a report released on Thursday, Benzinga reports. They currently have a $9.00 price objective on the stock. Morgan Stanley's price objective points to a potential upside of 104.08% from the company's current price.

Other equities research analysts have also issued research reports about the stock. Maxim Group assumed coverage on shares of Altus Power in a research note on Wednesday. They set a "buy" rating and a $7.00 target price on the stock. B. Riley upped their price objective on shares of Altus Power from $8.00 to $10.00 and gave the stock a "buy" rating in a report on Monday, February 5th. Finally, Roth Mkm cut their price objective on shares of Altus Power from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Friday, March 15th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Altus Power currently has a consensus rating of "Buy" and a consensus price target of $8.63.

Altus Power Trading Down 2.9 %

Shares of AMPS traded down $0.13 during trading hours on Thursday, reaching $4.41. 961,657 shares of the company traded hands, compared to its average volume of 1,061,284. The company's fifty day moving average price is $5.80 and its two-hundred day moving average price is $5.63. The company has a market capitalization of $701.54 million, a price-to-earnings ratio of -63.56 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 12 month low of $4.08 and a 12 month high of $7.28.

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). The company had revenue of $34.19 million for the quarter, compared to the consensus estimate of $42.85 million. Altus Power had a negative net margin of 6.03% and a negative return on equity of 0.30%. Equities research analysts predict that Altus Power will post -0.09 earnings per share for the current fiscal year.

Insider Transactions at Altus Power

In other news, CEO Gregg J. Felton bought 12,500 shares of the company's stock in a transaction dated 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 owns 11,894,603 shares in the company, valued at approximately $56,856,202.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Gregg J. Felton bought 12,500 shares of the company's stock in a transaction dated 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 owns 11,894,603 shares in the company, valued at approximately $56,856,202.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Anthony Savino sold 34,725 shares of the company's stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $7.02, for a total transaction of $243,769.50. Following the completion of the transaction, the insider now owns 3,907,536 shares in the company, valued at approximately $27,430,902.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 83,673 shares of company stock worth $530,948. Corporate insiders own 31.55% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMPS. Ensign Peak Advisors Inc bought a new position in Altus Power during the third quarter valued at approximately $26,000. Advisors Asset Management Inc. bought a new position in Altus Power during the fourth quarter valued at approximately $37,000. JPMorgan Chase & Co. bought a new position in Altus Power during the first quarter valued at approximately $39,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Altus Power during the third quarter valued at approximately $41,000. Finally, Point72 Middle East FZE bought a new position in Altus Power during the fourth quarter valued at approximately $41,000. 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.