Altus Power (NYSE:AMPS – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday, Zacks.com reports. The firm presently has a $8.00 price objective on the stock. Zacks Investment Research‘s target price points to a potential upside of 10.19% from the stock’s previous close.

According to Zacks, “Altus Power Inc. is creating a clean electrification ecosystem, serving its commercial, public sector and community solar customers with locally-sited solar generation, energy storage and EV-charging stations. Altus Power Inc., formerly known as CBRE Acquisition Holdings Inc., is based in Stamford, Connecticut. “

Separately, Morgan Stanley initiated coverage on Altus Power in a report on Thursday, April 7th. They issued an “equal weight” rating and a $10.50 price target for the company.

Shares of AMPS traded up $0.10 during trading on Monday, reaching $7.26. The company’s stock had a trading volume of 15,742 shares, compared to its average volume of 447,964. The business’s fifty day moving average price is $6.57. Altus Power has a twelve month low of $4.26 and a twelve month high of $11.35. The company has a quick ratio of 10.67, a current ratio of 10.67 and a debt-to-equity ratio of 1.35.

Altus Power (NYSE:AMPS – Get Rating) last announced its earnings results on Thursday, March 24th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04). The business had revenue of $21.58 million during the quarter, compared to the consensus estimate of $18.90 million. On average, equities analysts expect that Altus Power will post 0.05 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Liberty Mutual Group Asset Management Inc. acquired a new position in Altus Power during the 4th quarter worth $31,350,000. Telemark Asset Management LLC acquired a new position in Altus Power during the 4th quarter worth $20,900,000. Vanguard Group Inc. acquired a new stake in shares of Altus Power in the first quarter valued at $12,973,000. Kensico Capital Management Corp acquired a new stake in shares of Altus Power in the fourth quarter valued at $10,711,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in shares of Altus Power in the fourth quarter valued at $7,541,000. Hedge funds and other institutional investors own 89.11% of the company’s stock.

About Altus Power (Get Rating)

Altus Power, Inc operates as a clean electrification company in the United States. It is involved in the on-site solar generation for commercial, industrial, and public customers; community solar; energy storage; and electric vehicle charging businesses. The company was founded in 2009 and is based in Stamford, Connecticut.

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