Altus Power (NYSE:AMPS) Earns "Buy" Rating from Roth Mkm

Altus Power (NYSE:AMPS - Get Free Report)'s stock had its "buy" rating reiterated by analysts at Roth Mkm in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $7.00 price objective on the stock. Roth Mkm's target price indicates a potential upside of 90.48% from the company's current price.

Other research analysts also recently issued reports about the stock. Morgan Stanley reissued an "overweight" rating and issued a $9.00 target price on shares of Altus Power in a research report on Thursday, April 11th. B. Riley dropped their target price on shares of Altus Power from $10.00 to $7.00 and set a "buy" rating on the stock in a research report on Monday, April 22nd. Finally, Maxim Group started coverage on shares of Altus Power in a research report on Wednesday, April 10th. They issued a "buy" rating and a $7.00 target price on the stock. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $8.25.

Altus Power Price Performance

AMPS stock traded down $0.02 during trading hours on Tuesday, hitting $3.68. 1,082,400 shares of the stock traded hands, compared to its average volume of 1,101,870. The stock has a 50-day simple moving average of $5.14 and a 200 day simple moving average of $5.53. Altus Power has a one year low of $3.40 and a one year high of $7.28. The company has a market cap of $584.62 million, a P/E ratio of -52.42 and a beta of 0.88. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 2.33.

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 the consensus estimate of ($0.02) by ($0.02). Altus Power had a negative net margin of 6.03% and a negative return on equity of 0.30%. The firm had revenue of $34.19 million for the quarter, compared to the consensus estimate of $42.85 million. Equities analysts forecast that Altus Power will post -0.11 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Lars Norell sold 40,000 shares of the firm's stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $5.58, for a total transaction of $223,200.00. Following the completion of the sale, the chief executive officer now directly owns 21,654,907 shares in the company, valued at $120,834,381.06. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Altus Power news, insider Anthony Savino sold 34,725 shares of Altus Power stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $7.02, for a total value of $243,769.50. Following the completion of the sale, the insider now directly owns 3,907,536 shares in the company, valued at $27,430,902.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lars Norell sold 40,000 shares of Altus Power stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $5.58, for a total transaction of $223,200.00. Following the completion of the sale, the chief executive officer now owns 21,654,907 shares of the company's stock, valued at $120,834,381.06. 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. 24.30% of the stock is owned by company insiders.

Institutional Trading of Altus Power

Institutional investors have recently added to or reduced their stakes in the business. Bouvel Investment Partners LLC raised its position in shares of Altus Power by 2.8% in the first quarter. Bouvel Investment Partners LLC now owns 305,673 shares of the company's stock valued at $1,461,000 after purchasing an additional 8,295 shares during the period. Triad Investment Management raised its position in shares of Altus Power by 48.2% in the first quarter. Triad Investment Management now owns 58,023 shares of the company's stock valued at $277,000 after purchasing an additional 18,879 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Altus Power by 805.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,193 shares of the company's stock valued at $76,000 after purchasing an additional 9,957 shares during the period. Olympiad Research LP raised its position in shares of Altus Power by 8.2% in the fourth quarter. Olympiad Research LP now owns 62,704 shares of the company's stock valued at $428,000 after purchasing an additional 4,726 shares during the period. Finally, Edmond DE Rothschild Holding S.A. raised its position in shares of Altus Power by 1.0% in 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 purchasing an additional 3,000 shares during the period. 46.55% of the stock is currently owned by institutional investors and hedge funds.

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.