Altus Power (NYSE:AMPS) Sees Unusually-High Trading Volume – Here’s Why

Altus Power, Inc. (NYSE:AMPS) shares saw strong trading volume on Wednesday . 5,130,262 shares were traded during trading, an increase of 205% from the previous session’s volume of 1,680,100 shares.The stock last traded at $4.98 and had previously closed at $4.96.

Analysts Set New Price Targets

Several analysts have recently commented on AMPS shares. Roth Capital cut Altus Power from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. JPMorgan Chase & Co. raised Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a report on Thursday, February 6th. Roth Mkm reaffirmed a “neutral” rating and set a $5.00 price target on shares of Altus Power in a research note on Friday, March 21st. B. Riley cut shares of Altus Power from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $6.00 to $5.00 in a research note on Friday, February 7th. Finally, UBS Group lowered shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 target price on the stock. in a research report on Monday, February 10th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $5.13.

Altus Power Trading Up 0.5 %

The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.60 and a current ratio of 0.60. The business has a fifty day simple moving average of $4.83 and a 200 day simple moving average of $4.10. The stock has a market cap of $799.70 million, a price-to-earnings ratio of 22.66 and a beta of 0.94.

Altus Power (NYSE:AMPS) last announced its earnings results on Monday, March 17th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.28). The firm had revenue of $44.47 million during the quarter, compared to analyst estimates of $46.64 million. Altus Power had a net margin of 19.18% and a return on equity of 4.79%. As a group, equities analysts anticipate that Altus Power, Inc. will post 0.14 EPS for the current year.

Insider Transactions at Altus Power

In related news, insider Anthony Savino sold 8,823 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total value of $43,320.93. Following the completion of the sale, the insider now directly owns 4,088,231 shares in the company, valued at approximately $20,073,214.21. The trade was a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gregg J. Felton sold 71,161 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total transaction of $349,400.51. Following the transaction, the chief executive officer now directly owns 4,023,696 shares in the company, valued at approximately $19,756,347.36. This represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,146 shares of company stock worth $437,707 over the last quarter. 24.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Altus Power

Institutional investors have recently added to or reduced their stakes in the company. Encompass Capital Advisors LLC grew its holdings in shares of Altus Power by 20.0% during the 4th quarter. Encompass Capital Advisors LLC now owns 8,027,318 shares of the company’s stock worth $32,671,000 after purchasing an additional 1,336,044 shares during the period. Quinn Opportunity Partners LLC acquired a new stake in shares of Altus Power in the fourth quarter worth $1,887,000. Millennium Management LLC raised its stake in shares of Altus Power by 148.3% in the 4th quarter. Millennium Management LLC now owns 652,278 shares of the company’s stock valued at $2,655,000 after acquiring an additional 389,605 shares during the period. Dimensional Fund Advisors LP increased its holdings in Altus Power by 7.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,648,599 shares of the company’s stock valued at $14,850,000 after purchasing an additional 263,393 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in Altus Power in the third quarter valued at about $425,000. Hedge funds and other institutional investors own 46.55% of the company’s stock.

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.