Altus Power (NYSE:AMPS) Now Covered by Analysts at Maxim Group

Maxim Group started coverage on shares of Altus Power (NYSE:AMPS) in a report released on Wednesday, MarketBeat reports. The firm issued a buy rating and a $7.00 price target on the stock.

AMPS has been the topic of a number of other reports. Roth Mkm lowered their price target 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 target on shares of Altus Power from $8.00 to $10.00 and gave the stock a buy rating in a report on Monday, February 5th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of Buy and a consensus target price of $8.63.

Altus Power Trading Down 4.5 %

NYSE:AMPS opened at $4.21 on Wednesday. Altus Power has a one year low of $4.08 and a one year high of $7.28. The company has a debt-to-equity ratio of 2.33, a quick ratio of 2.15 and a current ratio of 2.15. The firm has a market cap of $669.73 million, a P/E ratio of -60.13 and a beta of 0.88. The firm has a 50-day simple moving average of $5.75 and a 200-day simple moving average of $5.61.

Altus Power (NYSE:AMPS) last issued 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). Altus Power had a negative return on equity of 0.30% and a negative net margin of 6.03%. The firm had revenue of $34.19 million during the quarter, compared to analysts’ expectations of $42.85 million. Equities analysts anticipate that Altus Power will post -0.09 EPS for the current fiscal year.

Insider Activity

In related news, insider Anthony Savino sold 34,725 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $7.02, for a total transaction of $243,769.50. Following the completion of the sale, the insider now owns 3,907,536 shares of the company’s stock, valued at approximately $27,430,902.72. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Anthony Savino sold 34,725 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $7.02, for a total transaction of $243,769.50. Following the completion of the transaction, the insider now directly owns 3,907,536 shares in the company, valued at approximately $27,430,902.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Gregg J. Felton bought 12,500 shares of Altus Power stock in a transaction dated Thursday, March 28th. The shares were acquired at an average price of $4.78 per share, with a total value of $59,750.00. Following the completion of 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. Insiders sold a total of 83,673 shares of company stock valued at $530,948 in the last 90 days. 31.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AMPS. Ensign Peak Advisors Inc purchased a new position in Altus Power in the 3rd quarter worth about $26,000. Advisors Asset Management Inc. purchased a new position in Altus Power in the 4th quarter worth about $37,000. JPMorgan Chase & Co. purchased a new position in Altus Power in the 1st quarter worth about $39,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Altus Power in the 3rd quarter worth about $41,000. Finally, Point72 Middle East FZE purchased a new position in Altus Power in the 4th quarter worth about $41,000. 46.55% of the stock is owned by institutional investors and hedge funds.

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.