Altus Power (NYSE:AMPS) Stock Price Up 6.1%

Altus Power, Inc. (NYSE:AMPS)’s stock price traded up 6.1% during mid-day trading on Wednesday . The company traded as high as $4.75 and last traded at $4.73. 245,739 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 1,088,071 shares. The stock had previously closed at $4.46.

Wall Street Analyst Weigh In

AMPS has been the topic of several research reports. Roth Mkm lowered their target price on Altus Power from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. Morgan Stanley cut their target price on shares of Altus Power from $11.00 to $9.00 and set an “overweight” rating for the company in a research report on Friday, December 8th. Northland Securities assumed coverage on shares of Altus Power in a research report on Thursday, November 30th. They set an “outperform” rating and a $10.00 target price for the company. Finally, B. Riley increased their target price on shares of Altus Power from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $8.63.

Altus Power Trading Up 0.2 %

The company has a debt-to-equity ratio of 2.33, a current ratio of 2.15 and a quick ratio of 2.15. The business’s fifty day moving average price is $5.95 and its 200-day moving average price is $5.70.

Insider Transactions at Altus Power

In related news, insider Anthony Savino sold 34,725 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $7.02, for a total value of $243,769.50. Following the sale, the insider now directly owns 3,907,536 shares of the company’s stock, valued at $27,430,902.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Anthony Savino sold 34,725 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $7.02, for a total value of $243,769.50. Following the sale, the insider now directly owns 3,907,536 shares of the company’s stock, valued at $27,430,902.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lars Norell sold 40,000 shares of the firm’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 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 123,673 shares of company stock valued at $803,348. 31.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Ensign Peak Advisors Inc purchased a new position in shares of Altus Power during the third quarter worth approximately $26,000. JPMorgan Chase & Co. bought a new position in shares of Altus Power in the first quarter worth approximately $39,000. Advisors Asset Management Inc. bought a new position in shares of Altus Power in the fourth quarter worth approximately $37,000. Royal Bank of Canada bought a new position in shares of Altus Power in the first quarter worth approximately $46,000. Finally, Point72 Middle East FZE bought a new position in shares of Altus Power in the fourth quarter worth approximately $41,000. 46.55% of the stock is owned by hedge funds and other 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.