Altus Power Inc. (NYSE:AMPS) does about 810.79K shares in volume on a normal day but saw 614865 shares change hands in Friday trading. The company now has a market cap of 1.12B USD. Its current market price is $7.24, marking an increase of 0.84% compared to the previous close of $7.18. The 52 week high reached by this stock is $14.72 whilst the lowest price level in 52 weeks is $4.26. The script in recent trading has seen the stock touch a high of $7.365 and a low of $7.05.
Altus Power Inc. (AMPS) has a 20-day trading average at $7.70 and the current price is -50.80% off the 52-week high compared with 69.95% distance from its 52-week low. The 50-day simple moving average of the closing price is $7.29 and its 200-day simple moving average is $8.24. If we look at the stock’s price movements over the week, volatility stands at 4.61%, which increases to 5.26% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 44.51 to suggest the stock is neutral.
7 analysts observing the Altus Power Inc. (AMPS) stock have set the 12-month price targets for the company’s shares at between $10.00 and $15.00. The consensus objective for the share price is $12.29, suggesting that the stock has a potential upside of 41.09% over the period. The median price target is 39.67% away from the current levels at $12.00.
FactSet Research has provided data showing that 7 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 7 analysts have rated it as a buy and 0 have advised that investors hold their positions. The consensus recommendation rating is Buy.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on January 10, 2023 when Morgan Stanley upgraded the stock to “Overweight” and issued a price target of $12. JP Morgan upgraded its price target at $10.
The current price level is -6.51%, -0.53%, and -12.05% away from its SMA20, SMA50, and SMA200 respectively, with the AMPS price moving above the 50-day SMA on February 17. Altus Power Inc. (AMPS) stock is down -2.16% over the week and -8.35% over the past month. Its price is 11.04% year-to-date and 4.62% over the past year.
The company’s next earnings report is expected on 05/15/2023.
Its 12-month price target is $12.00. To reach the target analysts have set, the stock logically needs to grow 41.09 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $10.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $15.00.
Outstanding shares total 154.46M with insiders holding 60.05% of the shares and institutional holders owning 42.45% of the company’s common stock. The company has a return on investment of 3.60% and return on equity of 13.40%. The price to earnings ratio (P/E ratio) amounts to 108.06 while the forward price to earnings ratio is 79.56. Price to book ratio is 3.28 and price to sales ratio is 11.72.
According to a U.S. Securities and Exchange Commission filing, Invesco Solar ETF has reduced its position in Altus Power Inc. (AMPS) to 2,107,401 shares, mirroring a recent drop by -0.50%. Invesco Solar ETF dumped 10548.0 shares of Altus Power Inc. common stock bringing its total worth to about $16.9 million at the end of recent close, SEC documents show. Invesco Solar ETF isn’t the only investment manager who changed stakes and is followed by Invesco WilderHill Clean Energy E, which added 2583.0 shares to end up with 1,651,309 shares worth $13.24 million.
