Altus Power (NYSE:AMPS) Shares Down 4.4% Following Analyst Downgrade

by · The Markets Daily

Altus Power, Inc. (NYSE:AMPS – Get Free Report) was down 4.4% during trading on Tuesday after Citigroup lowered their price target on the stock from $7.00 to $5.50. Citigroup currently has a buy rating on the stock. Altus Power traded as low as $3.45 and last traded at $3.45. Approximately 132,688 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 1,067,509 shares. The stock had previously closed at $3.61.

AMPS has been the subject of a number of other reports. UBS Group decreased their price objective on Altus Power from $5.50 to $5.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Morgan Stanley downgraded shares of Altus Power from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $8.00 to $4.00 in a research report on Wednesday, August 21st. B. Riley upgraded shares of Altus Power to a “strong-buy” rating in a research report on Tuesday, June 25th. Roth Mkm reiterated a “buy” rating and issued a $4.50 price objective on shares of Altus Power in a research note on Wednesday, October 16th. Finally, Maxim Group lowered their target price on shares of Altus Power from $5.50 to $4.50 and set a “buy” rating on the stock in a research report on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $5.94.

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Hedge Funds Weigh In On Altus Power

Institutional investors have recently modified their holdings of the company. Bouvel Investment Partners LLC raised its holdings in 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 buying an additional 8,295 shares during the period. ANTIPODES PARTNERS Ltd raised its stake in shares of Altus Power by 17.0% in the 1st quarter. ANTIPODES PARTNERS Ltd now owns 35,198 shares of the company’s stock valued at $168,000 after acquiring an additional 5,116 shares during the period. Edmond DE Rothschild Holding S.A. lifted its holdings in shares of Altus Power by 38.4% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 428,963 shares of the company’s stock valued at $2,050,000 after acquiring an additional 118,963 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Altus Power by 15.2% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 259,441 shares of the company’s stock worth $1,240,000 after purchasing an additional 34,244 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Altus Power by 7.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 44,257 shares of the company’s stock valued at $212,000 after purchasing an additional 3,116 shares in the last quarter. Institutional investors and hedge funds own 46.55% of the company’s stock.

Altus Power Stock Down 4.4 %

The firm has a 50-day simple moving average of $3.17 and a 200 day simple moving average of $3.76. The company has a market capitalization of $554.32 million, a PE ratio of -69.80 and a beta of 0.96. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.91 and a quick ratio of 0.91.

Altus Power (NYSE:AMPS – Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.13. Altus Power had a net margin of 13.55% and a return on equity of 2.52%. The company had revenue of $52.46 million during the quarter, compared to the consensus estimate of $57.61 million. On average, research analysts predict that Altus Power, Inc. will post 0.08 EPS for the current fiscal year.

Altus Power Company Profile

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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.

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