Altus Power (NYSE:AMPS) Sets New 1-Year Low at $4.08

Altus Power, Inc. (NYSE:AMPS) hit a new 52-week low on Monday . The stock traded as low as $4.08 and last traded at $4.08, with a volume of 71212 shares changing hands. The stock had previously closed at $4.21.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. 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. B. Riley increased their price objective on shares of Altus Power from $8.00 to $10.00 and gave the company a “buy” rating in a report on Monday, February 5th. Maxim Group assumed coverage on shares of Altus Power in a report on Wednesday, April 10th. They issued a “buy” rating and a $7.00 price objective on the stock. Finally, Morgan Stanley restated an “overweight” rating and issued a $9.00 price objective on shares of Altus Power in a report on Thursday, April 11th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $8.63.

Altus Power Price Performance

The company has a debt-to-equity ratio of 2.33, a current ratio of 2.15 and a quick ratio of 2.15. The stock has a market cap of $592.57 million, a P/E ratio of -53.21 and a beta of 0.88. The company’s 50 day simple moving average is $5.68 and its 200 day simple moving average is $5.60.

Altus Power (NYSE:AMPS) last issued its earnings results on Thursday, March 14th. The company reported ($0.04) EPS 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 during the quarter, compared to the consensus estimate of $42.85 million. As a group, equities analysts forecast that Altus Power, Inc. will post -0.1 earnings per share for the current year.

Insider Buying and Selling at Altus Power

In other news, CEO Lars Norell sold 40,000 shares of the stock in a transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Lars Norell sold 40,000 shares of the stock in a transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gregg J. Felton acquired 12,500 shares of the stock in a transaction dated Thursday, March 28th. The shares were bought at an average cost of $4.78 per share, with a total value of $59,750.00. Following the transaction, the chief executive officer now directly owns 11,894,603 shares of the company’s stock, valued at $56,856,202.34. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 83,673 shares of company stock valued at $530,948. Corporate insiders own 31.55% of the company’s stock.

Institutional Investors Weigh In On Altus Power

Several large investors have recently made changes to their positions in the stock. Morgan Stanley increased its position in shares of Altus Power by 1.0% during the fourth quarter. Morgan Stanley now owns 147,479 shares of the company’s stock worth $962,000 after acquiring an additional 1,525 shares in the last quarter. Credit Suisse AG grew its position in Altus Power by 2.5% in the third quarter. Credit Suisse AG now owns 62,578 shares of the company’s stock valued at $689,000 after purchasing an additional 1,545 shares in the last quarter. Ensign Peak Advisors Inc bought a new position in Altus Power in the third quarter valued at $26,000. The Manufacturers Life Insurance Company grew its position in Altus Power by 14.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 20,095 shares of the company’s stock valued at $131,000 after purchasing an additional 2,596 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. grew its position in 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 in the last quarter. 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.