Altus Power (NYSE:AMPS) Shares Up 3.9%

Altus Power, Inc. (NYSE:AMPS) shot up 3.9% on Monday . The company traded as high as $4.82 and last traded at $4.80. 54,914 shares traded hands during trading, a decline of 95% from the average session volume of 1,059,106 shares. The stock had previously closed at $4.62.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AMPS. B. Riley increased their price target on Altus Power from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Roth Mkm lowered their price target on Altus Power from $8.00 to $7.00 and set a “buy” rating for the company in a report on Friday, March 15th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Altus Power presently has a consensus rating of “Buy” and a consensus target price of $8.86.

Altus Power Stock Up 4.8 %

The business has a fifty day moving average of $5.84 and a 200 day moving average of $5.64. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 2.33. The company has a market capitalization of $769.95 million, a PE ratio of -66.00 and a beta of 0.88.

Altus Power (NYSE:AMPS) last announced its quarterly earnings data on Thursday, March 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The company had revenue of $34.19 million during the quarter, compared to analysts’ expectations of $42.85 million. Altus Power had a negative net margin of 6.03% and a negative return on equity of 0.30%. Equities research analysts anticipate that Altus Power, Inc. will post -0.09 EPS for the current year.

Insider Activity

In other news, CEO Lars Norell sold 40,000 shares of Altus Power stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $5.58, for a total value of $223,200.00. Following the completion of the transaction, the chief executive officer now owns 21,654,907 shares in the company, valued at approximately $120,834,381.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Altus Power news, insider Anthony Savino sold 34,725 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $7.02, for a total value of $243,769.50. Following the completion of the sale, the insider now owns 3,907,536 shares in the company, valued at $27,430,902.72. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Lars Norell sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $5.58, for a total value 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 approximately $120,834,381.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,673 shares of company stock worth $530,948. 31.55% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Altus Power

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in Altus Power by 13.1% in the second quarter. BlackRock Inc. now owns 6,159,872 shares of the company’s stock valued at $33,263,000 after buying an additional 712,807 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Altus Power by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 3,934,964 shares of the company’s stock worth $26,876,000 after purchasing an additional 63,809 shares during the last quarter. State Street Corp raised its stake in shares of Altus Power by 26.8% during the first quarter. State Street Corp now owns 3,698,735 shares of the company’s stock worth $20,269,000 after purchasing an additional 780,823 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Altus Power by 360.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,529,144 shares of the company’s stock worth $10,445,000 after purchasing an additional 1,196,891 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Altus Power by 71.2% during the first quarter. Geode Capital Management LLC now owns 1,180,427 shares of the company’s stock worth $6,469,000 after purchasing an additional 490,886 shares during the last quarter. Hedge funds and other institutional investors own 46.55% of the company’s stock.

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.