Altus Power, Inc. (NYSE:AMPS) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Altus Power, Inc. (NYSE:AMPS) have received an average rating of “Buy” from the six research firms that are presently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $8.86.

Several research analysts have recently weighed in on the company. Roth Mkm decreased their price target on Altus Power from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, March 15th. B. Riley boosted their target price on Altus Power from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, February 5th.

Insiders Place Their Bets

In other Altus Power news, CEO Gregg J. Felton purchased 12,500 shares of Altus Power stock in a transaction dated Thursday, March 28th. The stock was purchased at an average price 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 purchase was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Lars Norell sold 40,000 shares of the firm’s 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 sale, the chief executive officer now directly owns 21,654,907 shares in the company, valued at approximately $120,834,381.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gregg J. Felton bought 12,500 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were purchased at an average price of $4.78 per share, for a total transaction of $59,750.00. Following the purchase, the chief executive officer now owns 11,894,603 shares in the company, valued at approximately $56,856,202.34. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 83,673 shares of company stock valued at $530,948. Insiders own 31.55% of the company’s stock.

Hedge Funds Weigh In On Altus Power

Several large investors have recently made changes to their positions in the business. abrdn plc lifted its position in shares of Altus Power by 1,217.7% in the third quarter. abrdn plc now owns 619,300 shares of the company’s stock worth $3,251,000 after buying an additional 572,300 shares in the last quarter. ANTIPODES PARTNERS Ltd grew its position in Altus Power by 292.1% in the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 25,503 shares of the company’s stock valued at $127,000 after acquiring an additional 18,999 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in Altus Power by 2.0% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 678,732 shares of the company’s stock worth $3,563,000 after buying an additional 13,500 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Altus Power by 196.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 13,319 shares of the company’s stock valued at $70,000 after acquiring an additional 8,826 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Altus Power by 7.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,933 shares of the company’s stock valued at $267,000 after purchasing an additional 3,571 shares in the last quarter. 46.55% of the stock is currently owned by hedge funds and other institutional investors.

Altus Power Price Performance

Shares of AMPS opened at $4.62 on Tuesday. The company has a market capitalization of $734.95 million, a P/E ratio of -65.99 and a beta of 0.88. Altus Power has a twelve month low of $4.08 and a twelve month high of $7.28. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 2.33. The firm has a 50 day moving average of $5.84 and a 200 day moving average of $5.65.

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.