Altus Power (NYSE:AMPS) Trading Down 6.6% – Should You Sell?

Shares of Altus Power, Inc. (NYSE:AMPS) traded down 6.6% during trading on Tuesday . The company traded as low as $3.51 and last traded at $3.52. 557,030 shares traded hands during trading, a decline of 48% from the average session volume of 1,066,061 shares. The stock had previously closed at $3.77.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Roth Mkm restated a “buy” rating and set a $4.50 target price on shares of Altus Power in a report on Wednesday, October 16th. Citigroup dropped their price target on shares of Altus Power from $7.00 to $5.50 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. UBS Group dropped their price target on shares of Altus Power from $5.50 to $5.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Maxim Group lowered their target price on shares of Altus Power from $5.50 to $4.50 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, Morgan Stanley cut shares of Altus Power from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $8.00 to $4.00 in a research note on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Altus Power currently has an average rating of “Buy” and a consensus price target of $5.94.

Altus Power Stock Down 5.0 %

The stock has a market cap of $575.21 million, a PE ratio of -70.60 and a beta of 0.96. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.91 and a current ratio of 0.91. The company’s 50-day moving average price is $3.22 and its 200 day moving average price is $3.72.

Altus Power (NYSE:AMPS) last released its earnings results on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.13. The company had revenue of $52.46 million during the quarter, compared to analyst estimates of $57.61 million. Altus Power had a net margin of 13.55% and a return on equity of 2.52%. As a group, analysts forecast that Altus Power, Inc. will post 0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Summit Securities Group LLC bought a new position in shares of Altus Power during the 2nd quarter valued at approximately $39,000. Iridian Asset Management LLC CT bought a new stake in Altus Power in the third quarter worth $40,000. Vaughan David Investments LLC IL bought a new stake in Altus Power in the second quarter worth $55,000. Susquehanna Fundamental Investments LLC purchased a new stake in Altus Power in the second quarter worth $68,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Altus Power in the first quarter worth $88,000. 46.55% of the stock is currently 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.