Altus Power (NYSE:AMPS) Price Target Lowered to $7.00 at B. Riley

Altus Power (NYSE:AMPS) had its price objective trimmed by B. Riley from $10.00 to $7.00 in a research note published on Monday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages have also recently issued reports on AMPS. Roth Mkm decreased their price target on shares of Altus Power from $8.00 to $7.00 and set a buy rating for the company in a research report on Friday, March 15th. 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 price target for the company. Finally, Morgan Stanley restated an overweight rating and issued a $9.00 price target on shares of Altus Power in a research report on Thursday, April 11th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of Buy and an average price target of $8.25.

Altus Power Price Performance

AMPS stock opened at $3.62 on Monday. The company has a 50 day simple moving average of $5.48 and a 200 day simple moving average of $5.57. The stock has a market cap of $575.87 million, a price-to-earnings ratio of -51.71 and a beta of 0.88. Altus Power has a 1 year low of $3.61 and a 1 year high of $7.28. The company has a debt-to-equity ratio of 2.33, a current ratio of 2.15 and a quick ratio of 2.15.

Altus Power (NYSE:AMPS) last released its quarterly earnings data on Thursday, March 14th. The company reported ($0.04) earnings per share (EPS) 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 analyst estimates of $42.85 million. Altus Power had a negative return on equity of 0.30% and a negative net margin of 6.03%. Research analysts anticipate that Altus Power will post -0.1 EPS for the current fiscal year.

Insider Transactions 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 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 available at this link. In related 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 transaction, the chief executive officer now directly 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 SEC, which can be accessed through this hyperlink. Also, CFO Dustin Weber sold 4,350 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $7.15, for a total transaction of $31,102.50. Following the transaction, the chief financial officer now directly owns 1,884,926 shares in the company, valued at $13,477,220.90. The disclosure for this sale can be found here. Insiders sold a total of 83,673 shares of company stock worth $530,948 over the last three months. 31.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Edmond DE Rothschild Holding S.A. lifted its stake 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 buying an additional 3,000 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Altus Power by 7.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,933 shares of the company’s stock valued at $267,000 after buying an additional 3,571 shares in the last quarter. AXQ Capital LP lifted its stake in shares of Altus Power by 25.5% in the third quarter. AXQ Capital LP now owns 21,078 shares of the company’s stock valued at $111,000 after buying an additional 4,278 shares in the last quarter. Bouvel Investment Partners LLC lifted its stake in shares of Altus Power by 1.5% in the fourth quarter. Bouvel Investment Partners LLC now owns 297,378 shares of the company’s stock valued at $2,031,000 after buying an additional 4,495 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd raised its holdings in shares of Altus Power by 18.0% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 30,082 shares of the company’s stock valued at $205,000 after purchasing an additional 4,579 shares during the last quarter. 46.55% of the stock is owned by institutional investors.

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.