Altus Power (NYSE:AMPS) Sees Strong Trading Volume

Shares of Altus Power, Inc. (NYSE:AMPS – Get Rating) saw strong trading volume on Thursday . 76,964 shares were traded during mid-day trading, a decline of 84% from the previous session’s volume of 489,507 shares.The stock last traded at $7.64 and had previously closed at $8.08.

Separately, Morgan Stanley decreased their price target on Altus Power from $10.50 to $10.00 and set an “equal weight” rating for the company in a research note on Monday, June 13th.

The company’s 50-day moving average is $6.56. The company has a debt-to-equity ratio of 1.35, a current ratio of 10.67 and a quick ratio of 10.67.

Altus Power (NYSE:AMPS – Get Rating) last released its quarterly earnings data on Thursday, March 24th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04). The firm had revenue of $21.58 million during the quarter, compared to the consensus estimate of $18.90 million. On average, equities research analysts predict that Altus Power, Inc. will post 0.05 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMPS. Liberty Mutual Group Asset Management Inc. acquired a new stake in Altus Power during the 4th quarter worth approximately $31,350,000. Telemark Asset Management LLC acquired a new stake in Altus Power during the 4th quarter worth approximately $20,900,000. Vanguard Group Inc. acquired a new stake in Altus Power during the 1st quarter worth approximately $12,973,000. Kensico Capital Management Corp acquired a new stake in Altus Power during the 4th quarter worth approximately $10,711,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in Altus Power during the 4th quarter worth approximately $7,541,000. 89.11% of the stock is owned by institutional investors.

About Altus Power (NYSE:AMPS)

Altus Power, Inc operates as a clean electrification company in the United States. It is involved in the on-site solar generation for commercial, industrial, and public customers; community solar; energy storage; and electric vehicle charging businesses. The company was founded in 2009 and is based in Stamford, Connecticut.

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