The stock of Altus Power Inc. (NYSE:AMPS) last traded at $7.21, up 16.29% from the previous session.
Data from the available sources indicates that Altus Power Inc. (NYSE:AMPS) is covered by 7 analysts. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $15.00 and a low of $10.00, we find $13.00. Given the previous closing price of $6.20, this indicates a potential upside of 109.68 percent. AMPS stock price is now -2.95% away from the 50-day moving average and -11.07% away from the 200-day moving average. The market capitalization of the company currently stands at $1.13B.
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In total, 1 analysts have assigned it a hold rating, and 6 have given it a buy rating. Brokers who have rated the stock have averaged $12.57 as their price target over the next twelve months.
With the price target of $15, Evercore ISI recently initiated with Outperform rating for Altus Power Inc. (NYSE: AMPS). On November 14, 2022, JP Morgan Upgraded its previous ‘Neutral’ rating to ‘Overweight’ on the stock keeping its target price maintained at $10, while ‘UBS’ rates the stock as ‘Buy’.
In other news, GSO Altus Holdings LP, 10% Owner sold 1,050,000 shares of the company’s stock on Oct 03. The stock was sold for $11,560,500 at an average price of $11.01. Upon completion of the transaction, the 10% Owner now directly owns 20,775,125 shares in the company, valued at $149.79 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 03, 10% Owner GSO Altus Holdings LP sold 7,000,000 shares of the business’s stock. A total of $77,070,000 was realized by selling the stock at an average price of $11.01. This leaves the insider owning 21,825,125 shares of the company worth $157.36 million. Insiders disposed of 14,735,359 shares of company stock worth roughly $106.24 million over the past 1 year. A total of 58.04% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in AMPS stock. A new stake in Altus Power Inc. shares was purchased by HOOD RIVER CAPITAL MANAGEMENT LLC during the first quarter worth $14,377,000. FIRST TRUST ADVISORS LP invested $7,220,000 in shares of AMPS during the first quarter. In the first quarter, DRIEHAUS CAPITAL MANAGEMENT LLC acquired a new stake in Altus Power Inc. valued at approximately $6,123,000. CVI HOLDINGS, LLC acquired a new stake in AMPS for approximately $4,905,000. CLEAN ENERGY TRANSITION LLP purchased a new stake in AMPS valued at around $4,023,000 in the second quarter. In total, there are 139 active investors with 41.40% ownership of the company’s stock.
With an opening price of $6.36 on Wednesday morning, Altus Power Inc. (NYSE: AMPS) set off the trading day. During the past 12 months, Altus Power Inc. has had a low of $4.26 and a high of $14.72. As of last week, the company has a debt-to-equity ratio of 1.59, a current ratio of 9.70, and a quick ratio of 9.70. The fifty day moving average price for AMPS is $7.43 and a two-hundred day moving average price translates $8.11 for the stock.
The latest earnings results from Altus Power Inc. (NYSE: AMPS) was released for Jun, 2022. According to the Utilities – Renewable Company, earnings per share came in at $0.16, beating analysts’ expectations of $0 by 0.16. This compares to -$0.01 EPS in the same period last year. The net profit margin was 49.30% and return on equity was 13.40% for AMPS. The company reported revenue of $30.44 million for the quarter, compared to $20.14 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 51.15 percent. For the current quarter, analysts expect AMPS to generate $29.41M in revenue.
Altus Power Inc.(AMPS) Company Profile
Altus Power, Inc., a clean electrification company, originates, develops, owns, and operates roof, ground, and carport-based photovoltaic solar energy generation and storage systems. It serves commercial, industrial, public sector, and community solar customers. The company was founded in 2013 and is based in Stamford, Connecticut.
